Buletin Takaful 2009

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).

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Source: The Star, 19th September 2009

The outlook for the domestic takaful business remains bright due to the limited number of takaful operators in the country and because almost 60% of the Malaysian population is still uninsured, industry players and analysts said.

Syarikat Takaful Malaysia Bhd (Takaful Malaysia) group managing director Datuk Hassan Kamil said with only eight takaful operators in the country and two more takaful licences to be issued by Bank Negara, there was plenty room for growth for takaful products.

In line with the positive outlook, Takaful Malaysia aims to increase its market share to more than 50% by aggressively growing its retail distribution capabilities.

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Source: The Star, 20th May 2009

Takaful premium income is expected to contribute 20% to HSBC Amanah Malaysia Bhd’s revenue by 2011, according to HSBC Amanah Takaful (Malaysia) Sdn Bhd chief executive officer Zainudin Ishak.

“At the moment our contribution to the group is insignificant,’’ he told reporters at briefing on a survey conducted by HSBC Insurance (Asia Pacific) Holdings Ltd yesterday.

HSBC Amanah Takaful was registered in August 2006 and the company had recently turned profitable, Zainudin said, adding that new regular premium income at the takaful operator had doubled to RM30mil from RM15mil recorded six months ago.

Zainudin said he expected the “momentum” to continue for the rest of the year, despite concerns that the economic slowdown would limit consumers’ demand for insurance products.

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