Prudential Launches Sharia-Dedicated Life Insurance Business in Indonesia – InsuranceNewsNet
Prudential launches Sharia-dedicated life insurance business in
Prudential Syariah to meet the growing demand for Sharia solutions and support the growth of the Sharia economy
- Prudential is the first global insurer to create a stand-alone Shariah-compliant life insurance entity in
- Prudential Syariah adheres to the principles of “Sharia for All”, which embraces the concept that Sharia values are universal, inclusive and relevant to all Indonesians
- Its innovative product capabilities, coupled with a strong multi-channel distribution network, place the company in a strong position to grow its Sharia-related business and expand its customer base.
Prudential Syariah is dedicated to meeting the Sharia-based health and wealth needs of communities with solutions based on “Sharia for All” principles. This set of principles encompasses the concept that Sharia values are universal, inclusive and relevant to all Indonesians.
In his opening speech,
As the Covid-19 pandemic has led to an overall contraction in the global Sharia economy,
Riswinandi, Executive Director of Supervision of Non-Banking Financial Institutions (IKNB) and Member of the Commissioner’s Board of Directors
Since Prudential Indonesia established its Sharia unit, the company has gone from strength to strength. Last year, Prudential Indonesia further expanded the distribution reach of its Sharia products through its strategic bancassurance partners Standard Chartered Indonesia and UOB Indonesia. It has also leveraged its digital partners and platform to make Shariah solutions more accessible to digitally savvy customers.
Michelina Laksmi Triwardhany, CEO of Prudential Indonesiasaid Prudential is committed to partnering with the government to make
“We are very grateful for the achievements recorded by our Shariah business unit since its inception in 2007. Today, we are a leader with a 29% share of the Shariah market.1, offering an innovative and complete range of 49 products. Prudential
Omar Sjawaldy Anwar, CEO of Prudential Syariah said that by adhering to the principle of “Sharia for All”, the establishment of Prudential Syariah will strengthen our ability to provide innovative, comprehensive and affordable health and financial solutions to our customers.
“Our innovative product capabilities, coupled with a strong multi-channel distribution network, puts us in a strong position to grow our Shariah business and expand our customer base. We are very optimistic about the outlook for the Shariah industry and are committed to play a leading role in the development of Islamic finance by
To improve financial literacy, including Sharia insurance knowledge, Prudential Syariah has also introduced the Sharia Knowledge Center (SKC). It is an online educational center that provides up-to-date information on new products and services as well as a discussion and collaboration platform for the latest innovations and developments in the Sharia financial services industry. . The 2019
Learn more about Prudential’s business in
1 Based on AAJI Q4 2021 data
About Prudential Indonesia
Since launching its first unit link insurance product in 1999, Prudential Indonesia has been the market leader for these products in
About Prudential Syariah
PT Prudential Sharia Life Assurance (Prudential Syariah) has been operating since 2022 following the creation of
From its inception in 2007 as a Shariah business unit within Prudential Indonesia, to today as a separate entity, Prudential Syariah remains committed to providing all Indonesians with access to protection solutions by promoting universal and inclusive values, in accordance with “Sharia for all”. principles.
Backed by our core values that delight customers, product and service innovations and advanced digitalization, Prudential Syariah is committed to strengthening its position by manifesting its aspirations to become one of the leading economic contributors to Shariah in
PT Prudential Sharia Life Assurance is registered and supervised by the