Zurich is keen to expand its presence in Malaysia as Malaysia is one of the key Asian markets with significant growth prospects. The acquisition of MAA Takaful is another milestone in our emerging-market strategy. It expands our presence in the Asia-Pacific region and positions us for further profitable growth.
Because MAA Takaful is one of the most well-established Takaful operators in Malaysia, it offers Zurich a unique opportunity to acquire a national distribution platform and a more mature infrastructure to penetrate the Takaful market – something which would be extremely difficult to replicate from scratch. To be successful in this market, it is important that we offer products and solutions that meet all our customers’ needs, including the more than 60% of Malaysia’s population who are Muslims ( 2010 Census ). The size of the company and the Takaful market will also give Zurich a significantly enhanced capability in South East Asia.
Zurich recognises the strengths of MAA Takaful in its 9 years of takaful expertise; a strong and experienced management team and loyal employee base; an extensive tied-agency in Takaful Family; a quality team to support General Takaful; and over 1.1 million certificate holders in Malaysia.