Azim tipped to be new PruBSN chief executive officer
Oct 3rd, 2009 by Takaful
Source: The Star, 3rd October 2009
Prudential BSN Takaful Bhd (PruBSN) chief operating officer Azim Mithani will soon helm the company as chief executive officer pending Bank Negara approval.
The British-trained actuary is also currently treasurer of the Actuarial Society of Malaysia.
Before assuming his current position, Azim was chief financial officer and appointed actuary of Prudential Assurance Malaysia Bhd (PAMB).
A sister company of PAMB established in 2006, PruBSN is a 51:49 joint venture between Bank Simpanan Nasional Bhd and Prudential Holdings Ltd.
Many industry observers hailed PruBSN’s choice of Azim as a right one; as a qualified actuary and risk manager, he would be able to understand and assess risk effectively since risk was an important consideration in determining premiums.
As an actuary, he would be able to further instill and enhance the company’s risk management practices. This is in line with the regulatory changes in the insurance industry that placed greater focus on risk management.
It is learnt that Azim’s predecessor Mohamad Salihuddin Ahmad, who joined PruBSN in 2006, is now with Great Eastern Life Assurance (M) Bhd heading the project management team to secure a takaful licence for the company.
According to sources, Salihuddin was hand-picked by Great Eastern Holdings group chief executive officer Ng Keng Hooi to head its future Islamic insurance operations. He left PruBSN in August.
Talk is rife that Great Eastern Holdings Ltd, the parent of Great Eastern Life Malaysia, is a front runner to clinch one of two takaful licences to be awarded by Bank Negara later this year, in line with the financial services sector liberalisation.