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Purpose: This blog provides brief insurance news and digest for the busy executives. It is a handy archive covering major insurance news in Malaysia and nearby countries. 

Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we are not liable for any loss arising from the use of any information contained in this blog.

Reproduction: You may reproduce materials published here provided that the source (actuaries.com.my/insurance-news) is properly acknowledged.

Ikhlas launches "On The Go" campaign 

Takaful Ikhlas has launched an "On The Go" promotional campaign which will last the whole of December. The campaign is designed to demystify takaful as a Muslim-Malay centric product. http://bit.ly/TAS141204a

Thursday, December 4, 2014 10:06:00 PM Categories: Ikhlas
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MNRB counts on Malaysian Re and Takaful Ikhlas 

MNRB will focus on maintaining its market leader position in the domestic reinsurance market (current market share 53.5%) through its subsidiary Malaysian Re and growing its takaful business through Takaful Ikhlas. http://bit.ly/TAS140918c

Thursday, September 18, 2014 9:15:00 PM Categories: Ikhlas Malaysian Re MNRB
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Takaful sector to see M&A activities 

Insurance News

  -  May 26, 2014
Analysts foresee some consolidation activities in takaful sector in view of the requirements under IFSA to split family and general takaful operations by 2018. Potential candidates for M&A include STMB and Takaful Ikhlas.  http://bit.ly/TAS140526a 

 

Posted by Loo Hai Monday, May 26, 2014 9:24:00 PM Categories: Ikhlas Merger STMB
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Takaful Ikhlas sets targets 

Insurance News

  -  August 12, 2013
Takaful Ikhlas has set the following targets for FY 3/2014 and beyond:
  1. Grow total combined gross contributions by 20% to RM900 mil (actual achievement in FY 3/2013 was 8.05% growth)
  2. Improves its ranking by a notch in 2 years
  3. Boost its regular contributions from 45% currently to 70% of total family contributions in 3 to 4 years.

To achieve the targets, it will deploy the following strategies:

  1. Strengthen family takaful agency
  2. Penetrate Gen Y and non-Muslim markets
  3. Equip distribution channels with the right tools
  4. Improve its products
  5. Expand into group takaful
Tall order but Takaful Ikhlas is up to the challenge - The Sun Daily PETALING JAYA (Aug 12, 2013): Takaful Ikhlas Sdn Bhd, the Islamic insurance arm of MNRB Holdings Bhd, is eyeing to grow its total combined gross contributions by 20% to RM900 million for the current financial year ending March 31, 2014 (FY14) from about RM751 million a year ago.

 

Posted by Loo Hai Monday, August 12, 2013 7:27:00 PM Categories: Ikhlas Strategy
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Takaful Ikhlas launched 3 improve products 

Insurance News

  -  July 7, 2013
Takaful Ikhlas launched 3 improved products: a) Ikhlas Capital Investment-Linked Takaful Plus; b) Ikhlas Premier Investment-Linked Takaful Plus; and c) Ikhlas 'ChoicePlus' Individual Medical Rider.
Takaful Ikhlas launches 3 improved products - KiniBiz Takaful Ikhlas Sdn Bhd (Takaful Ikhlas) today launched three improved products -- Ikhlas Capital Investment-Linked Takaful Plus, Ikhlas Premier Investment-Linked Takaful Plus and Ikhlas 'ChoicePlus' Individual Medical Rider.

 

Posted by Loo Hai Sunday, July 7, 2013 9:37:00 PM Categories: Ikhlas Product
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Takaful Ikhlas under pressure to deliver higher profit 

Insurance News

  -  May 6, 2013
Pressure is now on Takaful Ikhlas to deliver higher earnings as its parent MNRB wants a more balanced contribution from all of its various wholly-owned units.  Currently MNRB derives more than 90% of its net profit from Malaysian Reinsurance Bhd.
MNRB to revamp wholly-owned units - Business Times Investment holding company, MNRB Holdings Bhd, will revamp its wholly-owned units to ensure each of them contributes equally to the company, said president/chief executive officer, Mohd Din Merican.

 

Posted by Loo Hai Monday, May 6, 2013 9:07:00 PM Categories: Ikhlas MNRB
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Abdul Latiff new Takaful Ikhlas CEO 

Insurance News

  -  Jan 7, 2013
Abdul Latiff Abu Bakar has been appointed the new CEO for Takaful Ikhlas with a 2-year contract. Abdul Latiff was formerly the CEO of Hong Leong Tokio Marine Takaful. Prior to that, he worked in Etiqa, MAA and Takaful Nasional.
MNRB appoints new CEO for Takaful Ikhlas - Business Times
KUALA LUMPUR: MNRB Holdings Bhd has appointed Abdul Latiff Abu Bakar as the new chief executive officer of the group's Islamic insurance arm Takaful Ikhlas Sdn Bhd.

 

Posted by Loo Hai Monday, January 7, 2013 9:10:00 PM Categories: Etiqa Executive Movement Ikhlas MAA
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