Prudential Indonesia to Penetrate Indonesia’s Takaful Market Further

Speaking at a webinar titled ‘Reimagining the Future of Indonesia’s Economy’, on the 19th of August 2020, Prudential Indonesia’s President Director, Jens Reisch, announced plans to expand further into Indonesia’s Shariah-based insurance market. Reisch stated that this expansion was supported by growing demand for Shariah-based insurance products and services, adding that the nature of Shariah-compliant products made it suitable for everyone.

Reisch noted that Indonesia lagged behind other countries with regards to Shariah finance (banking and insurance) market penetration, with the country’s Shariah finance sector accounting for lower than 9% of Indonesia’s total financial assets...