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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.
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The company then expanded into the Philippines in 2014 and Indonesia in 2015. Expanding into three more countries in 2016, [4] [8] that year FWD Group acquired Shenton Insurance in Singapore, [9] also purchasing a unit from Great Eastern Holdings Ltd. in Vietnam [8] for $35 million. [16] In late 2016, FWD agreed to buy AIG's Fuji Life Insurance ...
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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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 .