KUALA LUMPUR: Manulife Insurance Bhd plans to tap into the under-penetrated takaful market in Malaysia by inking a five-year strategic partnership with Takaful Ikhlas Family Bhd and is eyeing over RM30 mil in new business premiums over the period.
Its CEO Lee Sang Hui said the partnership would enable Manulife agency members to market and sell four Takaful Ikhlas products, thus providing options to its existing and new customers to choose life insurance products which are shariah-compliant.
The products are Ikhlas Preferred Term Takaful, Ikhlas Savings Prime Takaful, Ikhlas Education Plus and Ikhlas Wanita Elegance.
“The RM30 mil would be in Takaful Ikhlas’ books, but for us, we’ll have the opportunity to give our customers the choice of a takaful option. That is greater (for us) as it is something we cannot offer ourselves,” Lee told reporters after the partnership signing ceremony here today. – Jan 8, 2020, Bernama
