Thinking Outside The Box For Takaful

Speaking to the media present at the event, David McLean, Chief Executive of the World Takaful Conference said that “the global Takaful industry has been experiencing double digit growth rates with the GCC and Malaysia being the major contributors.

However the latest industry data reveals a slight deceleration in the growth rates.

A critical factor that will determine the success in taking the industry to the next level of development is the existence of players with the right quality and calibre, as well their readiness in terms of capacity and capability to formulate and execute successful strategies in response to new market opportunities. To achieve this, it is essential that key players in the industry remain profitable in the long run and the current slowdown makes it even more challenging for Takaful operators to maintain momentum while boosting profitability.

This calls for taking proactive steps and rethinking strategies to overcome diverse challenges to sustain the forward growth momentum.”