Top 5 Companies in the Global Takaful Market in 2025

The global takaful market reached a value of about USD 33.91 Billion in 2024. The market is projected to grow at a CAGR of 13.00% in the forecast period of 2025-2034 to reach around USD 115.11 Billion by 2034.

Takaful is a Sharia-compliant Islamic insurance policy in which community members contribute money or a percentage of their wages to a pooling programme that protects them from loss or damage. The primary premise of takaful is that everyone is responsible for working together and protecting one another. Muslims make up a fifth of the world's population, and their numbers are likely to grow in the future, boosting the business globally.

Growing product awareness is one of the most important factors in increasing market penetration. The majority of the Muslim population is unprotected due to a lack of knowledge about the takaful market's extensive range of solutions. Region-wise, the Gulf Cooperation Council (GCC) is the leading region in the global takaful market. The takaful market in the GCC region is witnessing increased growth owing to the presence of a vast and affluent Muslim population.

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Top 5 Global Takaful Companies:

1. JamaPunji (SECP)

The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. The Securities and Exchange Commission of Pakistan (SECP) recognised the importance of investor education and hence, initiated an investor education program, ‘Jamapunji’. The purpose of Jamapunji is to equip the general public with skills and knowledge to make informed financial decisions and manage their money wisely.

2. Qatar Islamic Insurance

Qatar Islamic insurance is founded on the cooperative principle. Policy-holders’ premiums, which are considered to be donations, form the general fund from which any claims are met. Insurance investment assets which are represented by insurance funds that accumulate over the retained surpluses reserves, provisions and so on, are invested by the company’s shareholders on behalf of the policyholders.

3. Salama Islamic Arab Insurance Company

Salama Islamic Arab Insurance Company is one of the largest and the oldest takaful provider. It has been a pioneer in the takaful industry since its incorporation to its present-day distinction as the leading Sharia’h compliant insurance solution provider. Salama provides vehicle takaful, health takaful, family takaful, and general takaful to its customers. General takaful includes cargo, properties, and business interruption insurances.

4. Takaful Brunei Darussalam

Takaful Brunei Darussalam is the holding company of two leading Islamic insurance companies, Takaful Brunei Am Sdn Bhd (TBA) and Takaful Brunei Keluarga Sdn Bhd (TBK) in compliance with the Takaful Order, 2008. The offering of Takaful provides a shariah compliant and holistic financial approach protecting assets against calamities whilst fulfilling one’s Islamic and moral obligations to the community complementing Brunei’s Malay Islamic Monarchy values.

5. Prudential BSN Takaful Berhad

Prudential BSN is the country's leading Takaful operator that provides financial security to the Malaysian population and their families. The company offers a wide and growing range of family takaful products, covering life and medical protection, savings, education and corporate, all of which are governed by the requirements of shariah law.