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.
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.
