The video features Jon Forster interviewing Hasham Piperdy about the similarities and differences between Takaful and mutual insurance. Both models emphasize collective risk sharing and returning surplus to participants, but differ in ownership structure, capital provision, and investment restrictions. Takaful adds a layer of Shari’ah compliance, requiring investments to be Islamic and oversight by a Shari’ah board. The discussion highlights that while the models share cooperative principles, Takaful introduces faith-based ethics and governance.
Contributors: Hasham Piperdy, FIA; Lisa Schilling, FSA, EA, FCA, MAAA; Jon Forster, ASA, MAAA