0
0
Pru Life UK, the first insurer in the Philippines to receive a Takaful or Islamic insurance license from the Insurance Commission, has embarked on a Takaful education roadshow. This aims to educate and engage key stakeholders—including select agents, the media, and local communities—on Shari’ah and Takaful. Pilot Takaful education sessions were conducted in both Davao City and Cagayan de Oro, enhancing understanding of Islamic insurance principles and fostering dialogues and collaboration with stakeholders.
The leading life insurer’s Takaful journey aligns with the company’s mission to enhance financial inclusion to more Filipino families by offering Takaful insurance, one that is compliant with Islamic rules and principles. Watch this video to know more.
To date, the roadshow provided more than 200 agents, community leaders and members, and the media with knowledge of Islamic finance, Shari’ah rules, and the distinct features of Takaful.
“Pru Life UK is committed to creating meaningful financial solutions for all Filipinos. The introduction of Takaful will open doors for millions of Muslim and non-Muslim Filipinos who previously had limited access to insurance products. The sessions in Davao and Cagayan de Oro form part of our mission to educate our stakeholders across sectors about Takaful.” shared Atty. Paul Mandal, Pru Life UK Senior Vice President and Chief Legal, Government Relations, and Sustainability Officer.
At the education session, Maricel Estavillo, Pru Life UK’s Vice President for Government Relations & Sustainability discussed Takaful and Atty. Mehol Sadain, Senior Professorial Lecturer at the Institute of Islamic Studies, University of the Philippines covered Islamic finance and Shari’ah rules and principles. Pru Life UK also conducted sideline meetings and dialogues with stakeholders from Muslim Filipino communities and the religious sector.
Pru Life UK’s Takaful offering reinforces the company’s ongoing efforts to support the Philippine government’s goal of expanding Islamic finance, especially in regions with large Muslim populations such as Mindanao.
This operation is designed to address the gap in the Islamic financial system by introducing a life insurance product that adheres to Shari’ah-compliant principles of mutual cooperation, risk-sharing, and ethical considerations.
Among Muslims, Pru Life UK aims to serve close to seven (7) million Muslim Filipinos across the country, especially families in underserved communities such as the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and the Zamboanga Peninsula. Takaful is also set to broaden the insurance options of non-Muslims in the country.
Read the full story on Pru Life UK’s Takaful launch here.
About Pru Life UK
Established in 1996, Pru Life UK is the pioneer of investment-linked life insurance products, in the Philippines and is one of the first life insurance companies approved to distribute US dollar denominated investment-linked life insurance policies in the country. Since its establishment, Pru Life UK has expanded its reach to over 170 branches and general agency offices in the Philippines, with the largest life insurance agency force with more than 40,000 licensed agentsThe company ranks #1 for New Business Annual Premium Equivalent and Total Premium Income from Variable Life Insurance Products according to the Insurance Commission’s Life Insurance Sector Quarterly Statistics for Q3 2024. Pru Life UK is headquartered in Uptown Bonifacio, Taguig City.
Pru Life UK and Prudential are not affiliated with Prudential Financial, Inc. (a company whose principal place of business is in the United States of America), Prudential Assurance Company (a subsidiary of M&G plc, a company incorporated in the United Kingdom), Philippine Prudential Life Insurance Company, Prudentialife Plans, Inc. or Prudential Guarantee and Assurance, Inc. (all Philippine registered companies). Pru Life UK is a life insurance company and is not engaged in the business of selling pre-need plans.
For more information: www.prulifeuk.com.ph
Average Rating