Takaful Malaysia Aims To Capture 33 Pct Share Of Takaful Plan For Govt Housing Loan

Bernama - Syarikat Takaful Malaysia Bhd aims to capture 33 percent market share of Takaful plan for government housing loan with the set up of its new Treasury Business Centre here in Putrajaya.

Group managing director of Takaful Malaysia, Datuk Mohamed Hassan Kamil said with the opening of its new centre at the Ministry of Finance Complex in Putrajaya, services will be further enhanced to cater to the needs of customers who are mainly civil servants.

The centre which was launched today will commence operations tomorrow.

"We have about 20 percent of market share in the total (Islamic insurance) plan for government housing loan scheme and we are confident of increasing it further with the centre in Putrajaya," Mohamed said at the launch.

Takaful Malaysia is an official Takaful provider for the Mortgage Reducing Term Assurance (MRTA), a plan that provides coverage on the outstanding financing of property and the Long Term House Owner Plan, a comprehensive coverage against fire, lightning, theft, and other catastrophes for civil servants in the Housing Loan Division.

On prospects for Takaful Malaysia, Kamil said that by streamlining its marketing and operations centres for more improved quality as well as revamping its products, the company was geared for more growth.

He said it was also in the midst of revamping its products portfolio to enhance its MRTA and Long Term House Owner schemes with new and exciting features, at more affordable premium contribution.

"We are looking at more new products in the next two months that include education plan as well as other protection plan and family takaful plan," he said.

In terms of achieving greater efficiencies within the group, Kamil said, the group is undertaking initiatives with its parent company, Bank Islam to cross-sell or market products of both companies within all the existing branches of both companies.

"Bank Islam and Takaful Malaysia has a wide distribution network with a combined 180 branches within Malaysia," he said.