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Takaful Ikhlas Aims To Further Penetrate Non-motor And Non-muslim
Bernama, 22 Jul 2011

KUALA LUMPUR, July 22 (Bernama) -- Takaful Ikhlas Sdn Bhd, a wholly-owned subsidiary of MNRB Holdings Bhd, aims to further penetrate the non-motor and non-Muslim markets.

This is to enable the company to rake in RM900 million in premiums growth by the financial year ending March 31, 2012, from the RM760 million recorded previously.

President and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman said of the 30 per cent general takaful segment, the motor business accounted for about 70 per cent while that for non-motor was only 30 per cent.

He said the company now had 1.8 million customers of whom only seven to eight per cent are non-Muslims.

"We plan to tap into new segments such as the non-Muslim market and ensure the non-motor business is somewhat improved," he added.

Syed Moheeb said the company which holds a 16 per cent market share in the industry, plans to innovate its existing products to suit certain market segments.

"The company's growth is quite steady and we expect the momentum to continue," he added.

Takaful Ikhlas currently has 6,000 agents nationwide.

He was speaking to reporters after the signing of a Memorandum of Understanding (MoU) with Al-Madinah International University (MEDIU) for the certificate accreditation facility of training programmes for representatives, staff and participants who attend trainings with Takaful Ikhlas, here today.

The MoU was signed by Syed Moheeb and MEDIU Rector, Professor Dr Muhammad bin Khalifa Al-Tamimi.

Syed Moheeb said Takaful Ikhlas spent between six-eight per cent of its payroll as investment on human capital development.

MEDIU has several learning centres locally and international and is fully accredited by the Ministry of Higher Education Malaysia.

Meanwhile, asked about news that Allianz Malaysia Bhd had aborted the plan to acquire a stake in Takaful Ikhlas from MNRB Holdings Bhd, Syed Moheeb said the company welcomed any interested party to be its partner, as long as there is added value to the company.

"Anyone willing to help enhance the value of the company, as well as meet Malaysia's strategic objective of being the Islamic financial centre, will have the ears of the shareholders," he added.
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Takaful Solution Provider in Malaysia - auto insurance, auto takaful, car insurance, education plan, fire insurance, health insurance, home insurance, home takaful, hospitalization benefit, insurance, medical protection, motor, motor insurance, motor takaful, mrta, mrtt, personal accident, takaful, takaful provider, travel insurance, motor policy