Source: Bernama, 11th September 2008
HSBC Amanah Takaful (Malaysia) Sdn Bhd is targeting RM375 million in revenue for its financial year ending Dec 31, 2008, its chief executive officer, Mohammad Muqeem, said Thursday.
As of August this year, the company has underwritten almost RM40 million in new business, covering 102,000 policies, he told Bernama after the presentation of cheques to five underprivileged homes and a rural primary school here.
The company’s growth in premiums this year compared with last year has indicated an increase of 123 percent in general and 329 percent in life or family takaful.
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Source: The Edge Daily, 13th May 2008
HSBC Amanah Takaful Sdn Bhd, a 49%-owned associate of HSBC Malaysia Bhd, expects its latest takaful offering, the Lifeselect Single Investment Plan, to almost double its premium revenue to RM350 million from RM185 million achieved last year.
“We distinguish this new product from others as it is the only one in the takaful market that offers coverage for 36 critical illnesses, an insurance industry standard,” HSBC Amanah’s acting deputy chief executive officer Mohammed Muqeem said.
Speaking to reporters after the launch of the product here yesterday, he said the product was developed for the local market, particularly targeted at HSBC’s premier customers numbering between 50,000 and 60,000 individuals. It will be distributed via HSBC 40 branches nationwide.
Mohammed said the product would initially be marketed solely in the domestic market, but may be extended to other HSBC markets in the future.
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