Cebuana Lhuillier Insurance Brokers launches Philippines’ first takaful

MANILA, Philippines — Cebuana Lhuillier Insurance Brokers (CLIB) has once again set the stage for innovation by partnering with Etiqa to introduce the country’s very first takaful, a groundbreaking product designed to cater to the specific needs of the Islamic community while promoting inclusivity and financial empowerment for Filipinos.

The launch marks a historic moment for both the insurance industry and the nation, as it sets a new benchmark for ethical and accessible financial protection.

Who is Etiqa?

Etiqa is an insurance and takaful provider in the ASEAN region, operating under the esteemed Maybank Group, one of Southeast Asia's foremost banking conglomerates.

With a strong reputation for delivering reliable financial solutions, Etiqa offers a diverse range of products, including life and general conventional insurance, as well as family and general takaful plans, catering to both individual and business needs.

These offerings are accessible through multiple distribution channels, ensuring flexibility and convenience for customers. With a presence in key ASEAN markets such as Malaysia, Singapore, Philippines, Indonesia and Cambodia, Etiqa serves a broad customer base with tailored solutions designed to meet the diverse needs of the region.

Committed to innovation and customer satisfaction, the company strives to provide dependable, forward-thinking insurance and takaful services, continuously evolving to address the changing demands of the market while maintaining its position as a trusted industry leader across the ASEAN region.

What is takaful?

Rooted in Islamic principles, takaful operates on the concept of mutual cooperation and shared responsibility. Takaful is structured around pooled contributions from participants. These contributions create a shared fund, which is used to assist those who experience a loss due to unforeseen events. By emphasizing transparency and fairness, the takaful model ensures that the collective good is prioritized, aligning with the ethical principles of Shariah law.

As Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier, explains, “The launch of the Philippines’ first takaful marks a major step in our commitment to making financial protection accessible to everyone. By understanding and honoring the unique needs of our Islamic brothers and sisters, we are creating a product that empowers communities, fosters trust and ensures financial security for all.”

The Takaful Group Personal Accident

Cebuana Lhuillier introduces the Takaful Group Personal Accident, an affordable microinsurance plan priced at just P150 per certificate designed to meet the needs of the Islamic community.

This Shariah-compliant insurance offers comprehensive protection for individuals or their loved ones, providing worldwide 24/7 coverage for accidental death, permanent disability and a range of accidental scenarios.

The certificate also includes double indemnity for public transport accidents and a hospital cash allowance starting on the third day of confinement, ensuring financial support during recovery.

With a one-year coverage period from the date of issuance, clients can avail up to five active certificates annually, offering flexible protection. Underwritten by Etiqa, a trusted insurer, the Takaful Group Personal Accident guarantees top-tier, reliable coverage.

This pioneering product aims to provide peace of mind and make financial protection accessible to the Islamic community while offering an affordable and comprehensive insurance solution.

Continued commitment to innovation and inclusion

The launch of takaful is a significant leap forward for Cebuana Lhuillier, a company that has long been recognized for its leadership in the financial services sector. Initially known for its trustworthy pawnshop services, Cebuana Lhuillier has evolved into being the country’s largest and leading microfinance center providing diverse and inclusive financial solutions.

With the introduction of takaful, Cebuana Lhuillier is not just offering a product, but also contributing to the financial inclusion of a broader demographic, ensuring that all Filipinos have access to ethical, transparent and culturally aligned financial services.

In addition to its inclusive benefits, Takaful exemplifies CLIB’s dedication to fostering financial empowerment for every Filipino. By aligning its offerings with ethical principles and cultural relevance, Cebuana Lhuillier Insurance Brokers is playing an instrumental role in reshaping the Philippine insurance landscape.

Toward a more inclusive future

Cebuana Lhuillier’s takaful launch is a testament to the company’s commitment to bridging financial and cultural gaps, especially in a diverse society like the Philippines. This forward-thinking move signals a future where every Filipino, regardless of background, belief or financial status, can benefit from comprehensive, transparent and ethical financial protection.

With over 3,500 Cebuana Lhuillier branches nationwide, Filipinos can easily access the new Takaful Group Personal Accident and other inclusive offerings, embarking on a journey toward greater financial security.

For more information, visit your nearest Cebuana Lhuillier branch or explore more about takaful online.

Editor’s Note: This press release is sponsored by Cebuana Lhuillier. It is published by the Advertising Content Team that is independent from our Editorial Newsroom.