Etiqa Insurance Singapore and AIA Singapore have announced a strategic partnership to enhance the accessibility of Shariah-compliant Takaful solutions throughout Singapore. This collaboration seeks to advance the Islamic insurance landscape by offering ethical, transparent, and socially responsible financial solutions to a wider audience, including both Muslim and non-Muslim customers.
Under this agreement, Etiqa’s suite of Family Takaful products will be distributed via AIA Singapore and AIA Financial Advisers. This distribution channel, the largest in the nation, comprises over 6,300 professional AIA insurance representatives, significantly increasing the reach and choice for customers seeking values-aligned protection and savings options.
The global Takaful market is experiencing significant growth, projected to expand from $36.5b in 2025 to $63.6b by 2030, with a compound annual growth rate of 11.7%. Etiqa Insurance Singapore has noted strong momentum in its Takaful offerings, driven by rising consumer awareness and confidence in Shariah-compliant financial protection.
Claudia Soh, Acting CEO of Etiqa Insurance Singapore, stated, “This partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore.” Alvin Fu, Chief Distribution Officer at AIA Singapore, added, “By integrating Etiqa’s Shariah-compliant expertise with our professional representatives, we can serve a wider customer base.”
The partnership also aims to raise awareness and understanding of Takaful solutions through educational programmes and community engagement, empowering consumers to make informed decisions on financial protection and savings.
