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Malaysian Re is a wholly owned subsidiary of MNRB Holdings Berhad which is listed on the Main Market of Bursa Malaysia Securities Berhad.MNRB's other subsidiaries include Takaful Ikhlas and Malaysian Re (Dubai) Ltd which serves Malaysian Re's Middle East market. [5]
Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) [1] is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty).
The company is a provider of both family and general takaful. For six successive years since 2011, PruBSN has been the Number 1 Family Takaful Operator and in 2016, our company achieved New Business Production of RM446 million with a 32.5% market share as confirmed by the industry rating agency, Insurance Services Malaysia. [ 3 ]
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Takaful Malaysia was established on 29 November 1984 when the Government of Malaysia set up a task force to study the feasibility of establishing an Islamic insurance company in Malaysia. [2] The incorporation of Takaful Malaysia as the first takaful operator in the country was in the same year as the Takaful Act was enacted. [3]
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AmMetLife is the name of Malaysian life insurance company, AmMetLife Insurance Berhad, and family takaful operator, AmMetLife Takaful Berhad. The companies are joint ventures between AmBank Group and New York-based MetLife. They offer a range of insurance and wealth protection products through AmBank's branch offices. [1]
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