KUALA LUMPUR: Malayan Banking Bhd's (Maybank) insurance and takaful arm Mayban Ageas Holdings Bhd, better known by the brand name Etiqa, is keeping options open on expansion plans going forward, as it targets to become the country's largest insurer by 2015.
Etiqa, formed four years ago after a merger with Malaysia National Insurance Bhd and Takaful Nasional Sdn Bhd, is 69.05% owned by Maybank with the remainder stake owned by Ageas Insurance International. It distributes insurance and takaful products under the Etiqa brand name.