New HSBC Amanah product to double its premium income
Topik: HSBC Amanah, The Edge Daily on May 13th, 2008 Comments Off
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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