Takaful Market to Grow at 18% CAGR to 2019 Forecasts a New Research Report at RnRMarketResearch.com
Pune, MH (PRWEB) October 06, 2015 -- The Global Takaful Market 2015 – 2019 report analysts says most of the mature and developing takaful markets are experiencing dearth of technical expertise in product innovation and sales. Potential markets such as the GCC and APAC have low insurance penetration, providing growth opportunities to insurance companies. They are striving to obtain technical expertise to innovate takaful products that meet the needs of their clients.
Complete report on Takaful market spread across 58 pages, analyzing 3 major companies and supported with 27 data exhibits is now available at http://www.rnrmarketresearch.com/global-takaful-market-market-research-2015-2019-market-report.html.
The analysts forecast global takaful market to grow at a CAGR of 18.64% over the period 2014-2019.
According to the Global Takaful Market Research 2015 – 2019 report, Low market penetration of takaful products in emerging markets has created huge opportunities for insurance market players. Market expansion strategies are crucial to enhance the takaful business.
Further, the takaful market report states that the low market penetration for Shariah insurance products in most of the emerging markets is attributed to several factors. The majority of the population in these markets is still in the low-income bracket and the awareness level about takaful products and their benefits are inadequate.
The concept of takaful is based on the following:
• Mutual guarantee: The objective of takaful is to agree and contribute funds to a common pool of funds that will take care of a defined set of loss, which is recovered from the pool of funds, and the surplus funds are distributed among the policyholders
• Ownership of funds: All the policyholders who contribute toward takaful funds are the owners of the pool of funds. They are the ones who receive the funds in the event of loss, and they also receive the surplus funds at the end of each year
• Investment parameter: The only parameter that matters to an investor here is the compliance of the product with Sharia principles, which prohibits interest
• Management: Takaful products are offered and managed by takaful operators or insurance companies. Order a Copy of Global Takaful Market Report at http://www.rnrmarketresearch.com/contacts/purchase?rname=420263.
Covered in this report
This report covers the current scenario and the growth prospects of the global takaful market for the period of 2015-2019. The two major products in the global takaful market include:
• life/family takaful
• General takaful
• To calculate the market size, the report considers the total value of takaful considerations or funds collected by policyholders toward life/family takaful and general takaful.
The report, Global Takaful Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, GCC, and ROW; it also covers the landscape of the global takaful market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
The following companies are the key players in the Global Takaful Market: Kuwait Finance House, Dubai Islamic Bank and Malayan Banking Berhad. The Other Prominent Vendors in the market are: Bank Mandiri, HSBC Amanah Takaful, and PT. Asuransi Jiwa BRINGIN JIWA SEJAHTERA.
Key market driver
• Rapid economic growth in emerging countries
• For a full, detailed list, view our report
Key market challenge
• Development of human resource personnel
• For a full, detailed list, view our report
Key market trend
• Growing geographic expansion
• For a full, detailed list, view our report
List of Exhibits
Exhibit 01: Product/solution offerings
Exhibit 02: Mudarabah model
Exhibit 03: Wakalah model
Exhibit 04: Hybrid model
Exhibit 05: Takaful market segmentation by products
Exhibit 06: Life/family takaful product segmentation
Exhibit 07: General takaful product segmentation
Exhibit 08: Global takaful market ($ billions)
Exhibit 09: Global takaful market by geographical segmentation
Exhibit 10: Five forces analysis
Exhibit 11: Global takaful market segmentation by product
Exhibit 12: Global life/family takaful market 2015-2019 ($ billions)
Exhibit 13: Global general takaful market 2015-2019 ($ billions)
Exhibit 14: Global takaful market by geographical segmentation 2014
Exhibit 15: Takaful market in GCC ($ billions)
Exhibit 16: Takaful market in APAC 2015-2019 ($ billions)
Exhibit 17: Takaful market in ROW 2015-2019 ($ billions)
Exhibit 18: Impact of drivers
Exhibit 19: Impact of drivers and challenges
Exhibit 20: Business segmentation by revenue 2014
Exhibit 21: Business segmentation by revenue 2013 and 2014 ($ millions)
Exhibit 22: Geographical segmentation by revenue 2014
Exhibit 23: Business segmentation by net operating revenue 2014
Exhibit 24: Business segmentation by net operating revenue 2013 and 2014 ($ millions)
Exhibit 25: Geographical segmentation by revenue 2014
Exhibit 26: Maybank: Business segmentation 2014 by revenue
Exhibit 27: Maybank: Business segmentation by revenue 2013 and 2014 ($ billion)
Explore Other Report by Infiniti Research at http://www.rnrmarketresearch.com/publisher/Infiniti-Research-Limited.html.
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Ritesh Tiwari, RnRMarketResearch, http://www.rnrmarketresearch.com/, +1 (888) 391-5441, [email protected]
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