Etiqa Insurance Singapore and AIA Singapore Partner to Expand Takaful Accessibility
SINGAPORE, March 24, 2026 — Etiqa Insurance Singapore and AIA Singapore announced a strategic distribution partnership to broaden access to Shariah-compliant Family Takaful products across Singapore. The collaboration leverages AIA’s network of more than 6,300 insurance representatives to reach underserved customers. This milestone follows Etiqa’s pioneering relaunch of Takaful after over a decade.
Overview
Etiqa’s suite of Shariah-compliant Family Takaful products will now be distributed through AIA Singapore and AIA Financial Advisers, Singapore’s largest tied channel. The partnership combines Etiqa’s Takaful expertise with AIA’s extensive distribution network to build a cohesive ecosystem, including educational programs for financial literacy. The arrangement targets both Singapore’s 15% Muslim population and non-Muslim consumers seeking values-aligned financial planning.
Announcement Specifics
Etiqa’s suite of Shariah-compliant Family Takaful products will now be distributed through AIA Singapore and AIA Financial Advisers, Singapore’s largest tied channel. The partnership combines Etiqa’s Takaful expertise with AIA’s extensive distribution network to build a cohesive ecosystem, including educational programs for financial literacy. The arrangement targets both Singapore’s 15% Muslim population and non-Muslim consumers seeking values-aligned financial planning.
Stakeholder Perspective
“This partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore. By leveraging AIA’s extensive distribution network and strong presence within the Muslim community, we can scale Takaful solutions more effectively and reach customer groups that have historically been underserved. As demand for values-aligned financial planning grows, this collaboration reinforces our commitment to inclusive and responsible insurance.”
— Claudia Soh, Acting Chief Executive Officer at Etiqa Insurance Singapore
Why it matters: The statement underscores Etiqa’s strategy to scale ethical insurance amid rising demand, directly addressing accessibility gaps in an underserved market segment.
“This partnership with Etiqa is a pivotal step in our commitment to inclusivity and we are excited to work together. By integrating Etiqa’s Shariah-compliant expertise with our highly professional AIA insurance representatives, we can serve a wider customer base, close protection gaps and help more families live Healthier, Longer, Better Lives.”
— Alvin Fu, Chief Distribution Officer at AIA Singapore
Why it matters: AIA’s involvement amplifies distribution channels, promoting Takaful to diverse demographics beyond traditional Muslim communities.
Industry Context
Global Takaful demand continues to surge as consumers seek values-based finance solutions. The market is projected to grow from $36.5 billion in 2025 to $63.6 billion by 2030, at a 11.7% compound annual growth rate. In Singapore, this partnership revives and expands an underserved segment that remained dormant for years, strengthening the city-state’s position as an Islamic finance hub in Southeast Asia.
The alliance signals Takaful’s broader expansion potential across the region, potentially influencing Asia-MENA fintech corridors by modeling hybrid distribution approaches that combine traditional insurance networks with Shariah-compliant products.
Conclusion
This partnership positions Singapore as a leader in inclusive, Shariah-compliant insurance while setting the stage for wider Takaful adoption, enhanced financial literacy initiatives, and sustained market growth across Southeast Asian markets.
Sources: Zawya, The Business Research Company
