Further takaful sector consolidation expected

Zafri: 'We do aspire to go overseas'.

KUALA LUMPUR: The takaful segment may see further consolidation due to the Islamic Financial Services Act (IFSA) that requires composite takaful providers to segregate their family and general units under separate licences, says Great Eastern Takaful Bhd chief executive officer Zafri Abdul Halim.

He said companies affected by the requirement would have to inject more capital to spin off their units.