Takaful Malaysia Explained

Syarikat Takaful Malaysia Keluarga Berhad
Type:	Public limited company
Isin:	MYL6139OO009
Location City:	Menara Takaful Malaysia, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
Location Country:	Malaysia
Key People:	Dato' Mohammed Hussein (Chairman) Nor Azman Zainal (Group CEO)
Industry:	Takaful
Products:	Family Takaful
Parent:	Tabung Haji (28.20%) Employees Provident Fund (12.73%) Kumpulan Wang Persaraan (Diperbadankan) (6.88%)

Syarikat Takaful Malaysia Am Berhad
Industry:	Takaful
Hq Location City:	Menara Takaful Malaysia, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
Hq Location Country:	Malaysia
Key People:	Ismail Mahbob (Chairman) Mohamed Sabri Ramli (CEO)
Products:	General Takaful
Parent:	Syarikat Takaful Malaysia Keluarga Berhad (100%)

Syarikat Takaful Malaysia Keluarga Berhad (Takaful Malaysia or Takaful Malaysia Keluarga) is the first takaful operator in Malaysia.^[1] Takaful Malaysia Keluarga is the holding company that manages the Family Takaful business and owns 100% equity of Syarikat Takaful Malaysia Am Berhad (Takaful Malaysia Am), which operates the General Takaful business. Providing a comprehensive and affordable range of family takaful and general takaful solutions, both companies operate under the Takaful Malaysia brand with a combined network of branches in 24 locations nationwide. In addition, Takaful Malaysia has two subsidiary companies in Indonesia, PT Asuransi Takaful Keluarga and PT Syarikat Takaful Indonesia.

History

• 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]
• Takaful Malaysia commenced its operations on 22 July 1985.
• Takaful Malaysia was converted into a public limited company on 19 October 1995, followed by its listing on the Main Board (now known as ‘Main Market’) of Bursa Malaysia Securities Berhad on 30 July 1996.^[3]
• In accordance with the Islamic Financial Services Act 2013 (“IFSA”), Takaful Malaysia separated its composite license into two licensed entities on 1 June 2018.^[4]
• The current substantial shareholders of Takaful Malaysia are Lembaga Tabung Haji, Employees Provident Fund Board and Kumpulan Wang Persaraan (Diperbadankan), with a shareholding of 28.20%, 12.73% and 6.88%, respectively, as at 31 March 2023.^[5]

Awards

• Graduates’ Choice of Employer to Work For in 2022 - Graduates’ Choice Award^[6]
• HR Asia Best Companies to Work For in Asia 2022 (Malaysia Edition)^[7]
• Highest Growth in Profit After Tax Over Three Years (Financial Services Sector) - The Edge Billion Ringgit Club Corporate Awards 2022
• Most Outstanding Company in Malaysia (Insurance Sector Category) - Asiamoney Asia's Outstanding Companies Poll 2022^[8]
• iBanding.com Best Motor Takaful Company in Malaysia 2021/2022^[9]
• HR Asia Best Companies to Work For in Asia 2021 (Malaysia Edition)^[10]
• Most Attractive Graduate Employers to Work For in 2022 (Insurance Category) - Graduate's Choice Awards 2021/2022^[11]
• Highest Returns to Shareholders Over Three Years Award (Financial Services Sector) - The Edge Billion Ringgit Club Corporate Awards 2020^[12]
• Highest Return on Equity Over Three Years Award (Financial Services Sector) - The Edge Billion Ringgit Club Corporate Awards 2020^[12]
• Highest Return on Equity Over Three Years Award (Financial Services Sector) - The Edge Billion Ringgit Club Corporate Awards 2019^[13]
• Highest Growth in Profit After Tax Over Three Years Award (Financial Services Sector) - The Edge Billion Ringgit Club Corporate Awards 2019^[13]
• The Malaysian Takaful Association's Innovation Award (Special Awards Category) - Takaful StarNite Awards 2019^[14]
• The Malaysian Takaful Association's Race For Cover Award - Takaful StarNite Awards 2019^[14]
• Highest Return on Equity Over Three Years (Financial Services Sector) - Runner-up - The Edge Billion Ringgit Club Corporate Awards 2018^[15]
• Highest Growth in Profit After Tax Over Three Years (Financial Services Sector) - Runner-up - The Edge Billion Ringgit Club Corporate Awards 2018^[15]
• Top Three Best Employer Brand (Insurance Category) - Graduates’ Choice Awards 2018^[16]
• National ICT Association of Malaysia (PIKOM) - Project Leadership Certification (PLC) Annual Leadership Award 2018^[17]
• iBanding.com Best Motor Takaful Company in Malaysia 2017/2018^[18]

Notes and References

1. News: Akta Takaful, 1984 .
2. Web site: The Malaysian Takaful Industry . 6.
3. Web site: Akta Takaful, 1984 .
4. Web site: Takaful Malaysia Converts Its Composite Licence Into Single Licences .
5. Web site: Takaful Malaysia Corporate Website .
6. Web site: The Graduates’ Choice Award .
7. Web site: HR Asia Best Companies to Work for in Asia 2022 (Malaysia Edition) .
8. Web site: Asia’s Outstanding Companies Poll 2022 .
9. Web site: Motor Insurance and Takaful Award 2021/2022 .
10. Web site: HR Asia Best Companies to Work for in Asia 2021 .
11. Web site: Graduate Employers to Work for in 2022 .
12. Web site: The Edge Billion Ringgit Club Corporate Awards 2020 .
13. Web site: The Edge Billion Ringgit Club Corporate Awards 2019 .
14. Web site: Our Milestones - Takaful Malaysia .
15. Web site: The Edge Billion Ringgit Club Corporate Awards 2018 .
16. Web site: Graduates’ Choice Awards 2018 .
17. Web site: Takaful Malaysia Annual Report 2018 . 32.
18. Web site: Motor Insurance and Takaful Award 2017/2018 .