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Hong Leong
Tokio Marine Takaful Commences Operation Global Takaful Operator
Introduces New Comprehensive Takaful Scheme In Malaysia
Kuala Lumpur, 1 December 2006 - Hong Leong Tokio Marine Takaful Berhad (HLTM Takaful), whose operations officially commenced on 30 November 2006 announced the initial takaful schemes offered – the Mortgage Reducing Term Takaful and Fire (or Houseowner) Takaful. Hong Leong Tokio Marine Takaful Berhad is a joint venture between Hong Leong Bank Berhad (HLB), Tokio Marine and Nichido Fire Insurance Co., Ltd. (TMNF) and Hong Leong Assurance Berhad (HLA), with an equity shareholding of 55%, 35% and 10% respectively. HLTM Takaful was incorporated on 19 June 2006, having secured Bank Negara’s approval on 2 March 2006. The “Comprehensive Mortgage Takaful” the first composite takaful scheme to be offered to the Malaysian market, combines the Mortgage Reducing Term Takaful and Houseowner Takaful (Long Term). Its unique product attribute is its single contribution plan that provides protection based on the tenure of participant’s mortgage financing. HLTM Takaful will capitalize on Hong Leong Bank’s extensive network of 186 branches nationwide to promote its various takaful schemes. The Mortgage Reducing Term Takaful and Houseowner Takaful are currently available at all Hong Leong Bank and Hong Leong Islamic Bank branches, and other major banks in the near future. HLTM Takaful is committed to providing convenient and effective takaful schemes and reliable claims services. HLTM Takaful is Syariah-compliant and differentiates itself through its unique general and family takaful schemes. HLTM Takaful will be setting up an agency channel to be a driving force to penetrate the takaful market, in particular the family takaful segment. With the market penetration rate currently at 5.6% (derived from the number of takaful certificates in force divided by total population), HLTM Takaful sees opportunities to capture a substantial share of the Malaysian market. HLTM Takaful is geared to contribute towards the achievement of the nation’s vision to promote Malaysia as an International Islamic Financial Centre (MIFC). Hong Leong Bank & Hong Leong Assurance are the subsidiaries of Hong Leong Financial Group Berhad which is the financial services arm of Hong Leong Group. Tokio Marine is the first international player to successfully participate in the direct takaful business in Saudi Arabia and Indonesia, followed by Singapore on retakaful business. For more information, please call us directly at 03-2164 2339, email to us at ReachUS@hltm.hongleong.com.my or visit our website www.hltmt.com.my Press Release - 1/12/2006 |
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