Long road ahead for Takaful product – Pru Life UK

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March 23, 2026 | 12:00am

MANILA, Philippines — Insurance firm Pru Life UK said Muslim Filipinos may take time to warm up to insurance products, but the insurer is stepping up awareness efforts as it entered the Islamic finance segment last year.

Pru Life UK chief legal, government relations and sustainability officer Calvin Kohchet-Chua said that uptake of its Takaful product has so far reached fewer than 100,000 policyholders.

Despite this, the company is aiming to tap into the estimated 2.5 million out of the Philippines’ seven million Muslims who can afford insurance or its Shari’ah-compliant counterpart.

“It’s a long road ahead, in terms of Takaful, because while we’ve launched that product, there’s still a lot of awareness that has to be made,” he said.

In June 2025, the insurer launched its maiden Takaful product, Lindungi, under the Insurance Commission’s “Takaful window” framework.

Lindungi is a one-year term product that provides P100,000 in benefits, designed to be simple and accessible to encourage mass adoption.

“We’re still going around the different communities. In fact, this Saturday, we have an event in Greenhills to promote Takaful,” he said, noting the Muslim community in the area.

He said the firm is working on its awareness programs to educate the Islamic community that this kind of product is available in the market.

“We are exploring partnerships to promote Lindungi or Takaful so that it will broaden the access for our customers, the Filipino Muslim brothers,” Kohchet-Chua said.

Pru Life UK said it garnered the highest new business annualized premium equivalent (NBAPE) among life insurers for the fifth time.

In 2025, the insurer recorded an NBAPE of P10 billion, up by two percent from P9.8 billion a year ago. Its total premium income rose to P52.8 billion.