Topik: Business Times, Takaful Ikhlas on Apr 28th, 2009 Comments Off
Source: Business Times, 28th April 2009
Takaful Ikhlas Sdn Bhd will focus more on consolidation of its operations this year amid the economic slowdown.
Its president and chief executive Syed Moheeb Syed Kamarulzaman said the current financial year ending March 31 2010 will see the company striving for more efficiency in its operations.
He said such a plan is apt as the takaful business has not been spared the economic crisis, especially the general and motor takaful business.
However, unlike the conventional insurance sector, which some expect to see negative growth, the takaful industry could still achieve 10 to 20 per cent growth after years of experiencing 40 to 50 per cent growth.
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Topik: Business Times, Takaful Ikhlas on Jun 23rd, 2008 Comments Off
Source: Business Times, 23rd June 2008
Islamic insurance or takaful is expected to register a 30 per cent growth this year despite an environment of higher prices.
Takaful Ikhlas Sdn Bhd chairman Sharkawi Alis said the economic downturns in 1988 and 1997 had proven that the insurance industry can withstand such turmoil.
“It’s a recession-proof industry. Takaful, in particular, can grow bigger as it has only penetrated seven per cent of the population,” he said after the opening of Takafaul Ikhlas’ regional office in Kuantan by State Entrepreneur Development and Cooperative committee chairman Datuk Ishak Muhamad on Saturday.
Present was Takaful Ikhlas president and chief executive officer Syed Moheeb Syed Kamarulzaman.
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Topik: Business Times, MAA Takaful on Mar 24th, 2008 Comments Off
Source: Business Times, 24 March 2008
MAA Holdings Bhd (MAAH) has offered AmAssurance Bhd 10 per cent of its Islamic insurance arm as part of a bigger deal to sell its general insurance business, a source said.
“MAAH has been reeling from solvency issues that turned the company into the red last year. Offering a minor stake in MAA Takaful Bhd (MAAT) would sweeten the deal for AmAssurance,” the source said.
AMMB Holdings Bhd holds 70 per cent of AmAssurance and a similar stake in AmG Insurance Bhd, the group’s general business arm.
MAAH plans to sell its general insurance business to AmG Insurance.
For AMMB, having an Islamic insurance arm would complement its existing Islamic banking business.
Last Tuesday, the central bank gave its nod for talks that could lead to AmAssurance buying a stake in MAAT.
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