Indonesia: Hajj and Umrah insurance pool can unlock long-term takaful growth

Source: Middle East Insurance Review | Oct 2026

The Indonesian Shariah Insurance Association (AASI) has highlighted the country’s expanding Hajj and Umrah sector as a springboard for broadening Islamic insurance.

The development of the Hajj and Umrah ecosystem is seen as a strategic opportunity to expand the Shariah insurance participant base through a pilgrim protection consortium, according to the AASI.

AASI Chairman Mr Fauzi Arfan said that the capacity of several Shariah insurance companies could be pooled so that all pilgrims can enjoy equal protection.

Coverage can help build long-term relationships with participants, he told the news outlet Kontan. There is a potential annual target of around 2m pilgrims.

Mr Fauzi added that after Hajj and Umrah pilgrimages are over, takaful companies can offer products tailored to the needs of participants and their families, including life, health, education, retirement, asset, and business protection. M

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