Etiqa and AIA form distribution partnership for Takaful

Global demand for Takaful continues to rise as consumers increasingly prioritise financial solutions aligned with their personal values. The global Takaful market is projected to grow from $36.5bn in 2025 to $63.6bn by 2030, representing a compound annual growth rate of 11.7%1. Since launching its Takaful offerings, Etiqa Insurance Singapore has seen strong and accelerating momentum, supported by rising consumer awareness and growing confidence in Shariah-compliant financial protection.

Creating a unified Takaful ecosystem in Singapore

The partnership brings together the complementary strengths of both insurers to build a more cohesive and accessible Takaful ecosystem. Together, the two organisations are positioned to significantly expand the availability, understanding and adoption of Takaful solutions in Singapore.

Etiqa Insurance Singapore, Acting CEO, Ms Claudia Soh, said that this partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore. “By leveraging AIA’s extensive distribution network and strong presence within the Muslim community, we can scale Takaful solutions more effectively and reach customer groups that have historically been underserved. As demand for values-aligned financial planning grows, this collaboration reinforces our commitment to inclusive and responsible insurance.”

AIA Singapore, chief distribution officer, Mr Alvin Fu, said that the partnership with Etiqa is a pivotal step in their commitment to inclusivity and that they are excited to work together. “By integrating Etiqa’s Shariah compliant expertise with our highly professional AIA insurance representatives, we can serve a wider customer base, close protection gaps and help more families live Healthier, Longer, Better Lives,” he said.

Bringing Takaful to the masses

While rooted in Islamic principles, Shariah-compliant, values-based Takaful solutions serve a broad spectrum of customers and appeal to increasingly values-driven consumers seeking ethical, transparent and socially responsible financial protection and savings solutions beyond the Muslim community. Beyond distribution, Etiqa Insurance Singapore shares a long-term commitment to raising awareness, understanding and adoption of Takaful solutions across Singapore. Through educational programmes and community engagement initiatives, the partnership aims to enhance financial literacy, deepen understanding of Takaful principles and bring Takaful education directly to underserved communities, empowering consumers to make informed decisions on protection and savings.