Etiqa Insurance Singapore and AIA Singapore have formed a strategic distribution partnership to expand access to Shariah-compliant Takaful products in Singapore. The collaboration is aimed at making ethical and values-based insurance solutions more accessible to a wider audience.
Under the agreement, Etiqa’s family Takaful products will be distributed through AIA Singapore and AIA Financial Advisers. This significantly increases reach through a tied advisory network of more than 6,300 representatives, allowing both Muslim and non-Muslim consumers to explore and adopt Takaful solutions aligned with their financial values.
The partnership comes amid growing global demand for Takaful products. The market is projected to grow from US$36.5 billion in 2025 to US$63.6 billion by 2030, reflecting increasing interest in ethical and Shariah-compliant financial offerings. In Singapore, Etiqa has already observed rising momentum driven by greater awareness and acceptance of such solutions.
By combining Etiqa’s experience in Takaful—having reintroduced these offerings to Singapore after more than a decade—with AIA Singapore’s extensive distribution network, the collaboration is expected to accelerate growth and improve accessibility in the market.
Both companies emphasized that the initiative is focused on enhancing financial inclusion. Takaful products, while rooted in Islamic finance, are increasingly appealing to a broader segment of consumers who value transparency, ethical practices, and socially responsible financial planning.
In addition to expanding distribution, the partnership will focus on education and community engagement efforts. These initiatives aim to raise awareness, improve financial literacy, and provide better access to underserved communities.
The agreement also reflects a broader trend across Asia’s insurance industry, where companies are forming partnerships to strengthen distribution and respond to evolving customer needs. Overall, the collaboration represents a step toward building a more inclusive and accessible Takaful ecosystem in Singapore.