KUALA LUMPUR: AMMB Holdings Bhd has teamed up with Friends Life FPL Ltd to set up AmFamily Takaful Bhd (AmTakaful) to tap into Malaysia’s family takaful business where the market penetration still remains relatively low.
According to a press release yesterday, AMMB said AmTakaful, the 12th licensed takaful operator in Malaysia, will run the family takaful business with effect from yesterday.
“AmTakaful’s range of family takaful products will appeal to all Malaysians in line with Bank Negara Malaysia’s efforts in actively promoting Islamic finance as an additional avenue for Malaysian consumers in meeting their financial services needs,” AMMB’s and AmTakaful’s chairman Tan Sri Azman Hashim said in the statement.
AmTakaful is 70%-owned by AMMB’s wholly-owned subsidiary AMAB Holdings Sdn Bhd. Friends Life FPL, a member of Friends Life Group of the United Kingdom, holds 30%.
This article appeared in The Edge Financial Daily, January 10, 2012.
According to a press release yesterday, AMMB said AmTakaful, the 12th licensed takaful operator in Malaysia, will run the family takaful business with effect from yesterday.
“AmTakaful’s range of family takaful products will appeal to all Malaysians in line with Bank Negara Malaysia’s efforts in actively promoting Islamic finance as an additional avenue for Malaysian consumers in meeting their financial services needs,” AMMB’s and AmTakaful’s chairman Tan Sri Azman Hashim said in the statement.
AmTakaful is 70%-owned by AMMB’s wholly-owned subsidiary AMAB Holdings Sdn Bhd. Friends Life FPL, a member of Friends Life Group of the United Kingdom, holds 30%.
This article appeared in The Edge Financial Daily, January 10, 2012.
