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International

Takaful penetration shows highest growth in five years

April 27, 2022 Reprints

Data from the Malaysian Takaful Association showed that takaful penetration in Malaysia increased to 18.6% in 2021 compared to 16.9% in 2020, reflecting the highest growth in five years, Middle East Insurance Review reported citing Bernama News Agency. Total business in-force gross contributions reached 7.4 billion Malaysian ringgits ($1.7 billion) in 2021, reflecting more than 21% year-on-year growth.

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Takaful penetration shows highest growth in five years

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