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Great Eastern Life Assurance Co. Ltd, often known as Great Eastern Life or simply Great Eastern, is a Singaporean multinational insurance company and subsidiary of OCBC Bank operating in the Southeast Asia region. Founded in 1908 by Alfred Hewton Fair, it is the largest and oldest life insurance company in Singapore and Malaysia.
AEON Bank (M) Berhad - A consortium led by AEON Credit Service (M) Berhad and AEON Financial Service Co., Ltd. ... Great Eastern Takaful Sdn Bhd; AIA AFG Takaful Berhad;
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).
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He is a former Chairman of Great Eastern Takaful, GHL Systems Bhd, Malaysia Pacific Corporation and HSBC Amanah Malaysia Bhd. [6] [7] He is currently a Director of Great Eastern General Insurance (Malaysia) Bhd, FIDE Forum, Fraser & Neave Holdings Bhd, Malaysia Smelting Corporation Bhd and RAM Holdings Bhd. [5]
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]
Etiqa is a digital insurance/takaful player in Malaysia with over 55% of market share in online premiums/contributions as of 2020. [1] It is also a bank assurance player in Malaysia , in Digital Life Insurance in Singapore , and a Group Medical insurer in the Philippines .