memang la byk sbb bukan sistem kewangan islam
Hehehe...tak baca habis tuu.. ni sikit je nak share dulu..
Allianz gets into Takaful
Wednesday, 09 March 2011 00:12
The over-insured but tiny Malaysian Takaful market may be about to witness yet another new entrant (see The Islamic Globe issue of February 23 for full background story). It seems that Allianz Malaysia may be about to enter the market through acquiring a stake in Takaful Ikhlas. Back in December of last year MNRB Holdings, the sole owner of Takaful Ikhlas, said it had started discussions with Allianz on selling shares in the insurer. Allianz indicated that approval to proceed was received from Bank Negara on December 17 last year around the same time that MNRB received approval from the Bank to commence negotiations on the sale in line with the central bank’s liberalization moves in 2009 to raise the cap on foreign holdings companies from 49 per cent to 70 per cent. Takaful Ikhlas has 10 branches in Malaysia offering family and general Takaful for individuals and groups.
How big a stake Allianz Malaysia will take remains to be seen as chief executive Jens Reisch told The Islamic Globe, ‘The future shareholding of Allianz in Takaful Ikhlas will depend on the negotiation to be undertaken between Allianz and MNRB and the approval from the regulator. We shall announce our shareholding in Takaful Ikhlas upon approval granted by the regulator’. Reisch would also not be drawn on the price that it has in mind for the stake, ‘The purchase price of the shares from MNRB will depend on the negotiation to be undertaken by Allianz and MNRB and the approval from the regulator.
Does Allianz Malaysia think that there is room in the market for another player? According to Reisch, ‘We still feel that there is big potential for Takaful in Malaysia where there is still a relatively low penetration. If our acquisition of Takaful Ikhlas is successful, we will develop innovative products and various distribution channels as well as strong service capabilities to reach out to potential customers best possible. For us, Takaful will be a core business area, which we are keen to grow and expand fast’.
The Malaysian Takaful market is worth around $10 billion and is attractive to new entrants more for the growth potential that it represents that the value of the market at present. The market is said to be growing at between 15 per cent and 20 per cent per year.
