Hong Leong Takaful Eyes RM10 Million Contribution From MBSB Tie-up

Hong Leong Takaful expects to net RM10 million in gross premiums in the first year following the MoU  with Malaysian Building Society Bhd for the i-Save takaful plan.

Hong Leong will be the first takaful operator to offer a family takaful product to MBSB under its bancatakaful channel, according tgo Hong Leong Takaful CEO Abdul Khalid Salleh.

"We are delighted to collaborate with MBSB in complementing its line of retail products with our HLMT i-Save takaful plan," he said after the the MoU signing.

The company targets a 60 per cent contribution from its bancatakaful business by 2012-2013, he said.

"Curently our bancatakaful products from our mother bank and a third party bank contribute 40 per cent, and 60 per cent comes from our corporate and retail products," he added.

Meanwhile, MBSB CEO Datuk Ahmad Zaini Othman expressed optimism that MBSB will be able to underwrite at least 10,000 policies in the first year of the collaboration given its large customer base and over 40 branches nationwide.

The full story is available at Bernama.