Zurich Takaful converts its Composite License to two Separate Licenses for Family Takaful and General Takaful
Kuala Lumpur, June 4, 2018
- In line with the requirements of the Islamic Financial Services Act 2013 (IFSA), Zurich Takaful Malaysia Berhad (ZTMB) has transferred its general takaful business to a newly-incorporated entity – Zurich General Takaful Malaysia Berhad (ZGTMB), effective 1 June 2018.
The transfer covers employees, assets and liabilities, distributors and contracts under the general takaful business. Zuhairi Ismail, formerly Audit Director of Zurich Malaysia has been appointed to the position of Chief Executive Officer (CEO) of ZGTMB.
There are no changes to the terms and conditions of the general takaful certificates previously issued by ZTMB. From 1 June onwards, all claims incurred from existing and new general takaful contracts will be managed by ZGTMB. ZTMB will maintain its name and continue to operate the family takaful business with Salim Majid Zain continuing as its CEO. There are no changes to the benefits and provisions under existing ZTMB family takaful certificates as a result of these changes. Both ZGTMB and ZTMB will continue to operate through its combined network of branches across 13 locations nationwide. Customers will continue to receive quality services from their respective ZGTMB brokers and agents as well as ZTMB consultants.
ZGTMB was incorporated in accordance with the requirements set out under the IFSA, whereby a takaful operator holding composite licences shall not carry on both family takaful and general takaful businesses under one single entity. For more information about ZGTMB and ZTMB, customers may contact Zurich Takaful Customer Care line at 03 - 6287 6666 or visit www.zurich.com.my
Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich General Takaful Malaysia Berhad
Zurich General Takaful Malaysia Berhad (ZGTMB) is one of Malaysia’s leading general takaful operators. It is a member of Zurich Insurance Group and the sole provider of shariah-compliant general takaful products within Zurich. With more than a decade of Takaful market expertise, ZGTMB offers an extensive range of general takaful solutions spanning motor, travel, property, financial and personal lines, small to medium enterprises as well as large industrial risks. Together with its dedicated employees, agency force, distributors and partners, supported by its nationwide branch network, ZGTMB is committed to help its customers understand and protect their valuable assets and businesses from risks. Additionally, conventional general insurance products are made available to customers through its sister company, Zurich General Insurance Malaysia Berhad. Further information about ZGTMB, visit www.zurich.com.my
Zurich Takaful Malaysia Berhad
Zurich Takaful Malaysia Berhad (ZTMB) is one of Malaysia’s leading family takaful operators. It is a member of Zurich Insurance Group and the sole provider of shariah-compliant family takaful products within Zurich. With more than a decade of Takaful market expertise, ZTMB offers protection, medical and health, savings as well as investments solutions to address its customers’ needs at different life stages. Together with its dedicated employees, agency force, distributors and partners, supported by its nationwide branch network, ZTMB is committed to help its customers understand and protect themselves from risks. Additionally, conventional life insurance products are made available to customers through its sister company, Zurich Life Insurance Malaysia Berhad. Further information about ZTMB, visit www.zurich.com.my