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Insurance – Cross Region: Medical insurance sustains takaful growth prospects

Growth prospects for Islamic insurance, or takaful, remain healthy in the Gulf Cooperation Council (GCC) countries, Africa and southeast Asia. This reflects those regions' large Muslim populations and relatively low insurance penetration. We expect takaful premiums to keep growing moderately in the next 2-3 years, helped by rising demand for medical insurance as more GCC, African and southeast Asian countries introduce compulsory health cover. The recent adoption of risk based capital regulation in key takaful markets, and takaful insurers’ continued....

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