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This paper aims to present an actuarial model of takaful to cover death and permanent total deficit of contributors benefiting from Mourabaha financing for real estate, taking into account modern takaful systems around the world. The main goal of this paper is to design an optimization program that helps to obtain a marketable and profitable takaful product by using the retakaful as a safety and technical support tool.

The study adopts an actuarial approach for determining takaful contributions and optimal choice of an adequate form of retakaful to maximize the technical surplus of a takaful company. A resolution method based on genetic algorithms is also developed to solve the optimization program.

This actuarial model allows to provide high added-value support to takaful and Islamic finance and also reassures clients of purchasing real estate through the Mourabaha product.

It should be noted that the choice of an effective Islamic borrower insurance product (takaful borrower) obviously depends on the strategy adopted by the takaful operator (type of takaful, pricing, experience and statistics observed, etc.), the form of retakaful, the behavior of the participants and the nature of the portfolio. Moreover, the program developed in this paper is suitably affordable and is closely linked to the hypotheses.

The strong point of the present program relies on the case where the reinsurer establishes itself as a partner of choice and to enrich the takaful fund. In addition, the actuarial tools used in agreement with genetic algorithms have made it possible to optimize with efficiency and ease of calculation.