Buletin Takaful

Source: The Star, 18th August 2010

Takaful Ikhlas Sdn Bhd president and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman has dismissed market talk that Malayan Banking Bhd’s (Maybank) takaful unit Etiqa Takaful Bhd was planning to acquire the company as a rumour.

He told StarBiz there had been no discussion on the matter at shareholder, parent or company level.

“There has not been any discussion at Permodalan Nasional Bhd (PNB), MNRB Holdings Bhd or Takaful Ikhlas on such an acquisition. It does not make sense. If there was (discussion), Maybank and MNRB as public listed companies should have got approval from Bank Negara before commencing acquisition.

“Furthermore, as one of the fastest growing takaful companies, Takaful Ikhlas has it own brand and appeal as well as its unique selling proposition. Therefore, it makes no sense to ‘rock a moving speedboat’ like us,” he added. PNB’s stake in MNRB as at August was 74.64%.

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Source: The Star, 31st May 2010

Promoting takaful via agency is fast gaining prominence with more players now investing significantly to beef up their agency channel and grab a larger slice of the competitive takaful market.

This mode of distribution, according to an industry player, had become more significant in view of the “Takaful For All” approach adopted by newer takaful entrants whereby takaful could be sold or promoted by anyone regardless of faith and religious beliefs.

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Source: The Star, 24th April 2010

Takaful players of late, have been aggressively scouting for non-bumiputra agents to strengthen their grip in the lucrative Islamic insurance market.

With more existing players looking to enhance their takaful footprint coupled with potential new entries joining the fray, the demand for these agents according to industry observers was expected to surge over the coming years.

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