Family takaful to hit $5.6b by 2016

According to a report released at the opening of the 8th Annual World Takaful Conference (WTC) in Dubai on Monday, the growth of family takaful has outperformed the growth in conventional life insurance, with an annual growth rate of 32 per cent. Its gross contributions are set to treble to $5.6 billion by 2016. However, the latest industry data reveals a slight deceleration in the growth rates. A critical factor that will determine the industry's success is the existence of players with the right quality, as well their readiness to respond to new market opportunities. The report addresses the increased need for a pertinent reference source to help industry leaders navigate the evolving family takaful landscape.