Source: The Star, 30th August 2008
The takaful industry grew strongly in the first six months with combined takaful contribution income increasing 23.0% to RM1.4bil against the same period last year.
This accounted for 8.5% of total premiums of the insurance industry as at end-June.
In the family takaful sector, new business contributions recorded stronger growth of 98.1% to RM1bil, driven by the expansion in investment-linked products following new product launches early this year, and high growth in endowment products recorded by the new takaful operators.
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Source: The Star, 29th July 2008
MAA Takaful Bhd, the latest entrant into the takaful market, has launched what is believed to be the industry’s first standalone comprehensive cancer plan that covers all forms of cancer.
Called MAA Takaful CancerCare, the scheme offers benefits at both early and advanced stages of cancer.
Chief executive officer Salim Majid Zain said: “The plan is the first of its kind in the takaful industry. Apart from that, it is unique in that it pays out the benefits at the first stage of cancer for 10 gender-specific cancers to assist the policyholder in seeking the necessary treatment. These gender-specific cancers are common cancers.
“This day and age, no one can say for sure that cancer can be avoided. But with medical advances, it is possible to diagnose most forms of cancer early. That is why our focus is to ensure the survival of our policyholders.”
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Source: The Star, 24th July 2008
Malayan Banking Bhd (Maybank) is confident of maintaining its position as the largest takaful operator in Malaysia after receiving good response for its latest product, Takaful Al-Waqi.
Since the soft launch on Monday, it has collected about RM30mil subscription from investors. Etiqa Takaful Bhd, the insurance and takaful division of Maybank, is in charge of distributing the fund.
Maybank executive vice-president, head Bancassurance Ibrahim Muhammad said 95% of subscribers were individuals and the rest from institutions.
“We are confident that in two to three weeks time, the institutions will come in. We believe within this month, the whole fund totalling RM200mil will be fully subscribed,” he said Thursday during the launch.
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