Hong Leong MSIG Takaful to exit general business


ong Leong Bank was the top gainer and its 44-sen gain to RM20.94 added 1.71 points to the KLCI.

KUALA LUMPUR: Hong Leong MSIG Takaful Bhd (HLMT) will cease to be a composite licensed takaful operator with effect from Sunday, July 1 under 2018 its internal streamlining exercise.

HLMT will exit the general takaful business in line with the legislative requirements under Islamic Financial Services Act 2013 (IFSA) and will focus on its family takaful business. 

“With this, HLMT is confident of serving its customers better by focusing on family takaful business. The streamlining of the business and operations through this exercise is set to provide an opportunity for HLMT to grow to the next level whilst providing customers more value added, excellent product offerings and services,” it said. 

HLMT assured existing HLMT certificate holders their current takaful certificate will remain intact and will be honoured in accordance with its terms and conditions.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Oil steadies, paring gains as rising COVID cases spur demand worries Premium
Omicron-fuelled volatility deals hedge funds worst monthly return since March 2020 Premium
US-listed Chinese shares take a hit as Didi to exit NYSE Premium
Didi shares plunge more than 20% on plan to delist from NYSE Premium
Wall St ends lower on Omicron worries, Fed taper angst Premium
Micro impact of new variant? Premium
Mixed views on FGV despite Q3 comeback Premium
EG Industries prepares for increased higher-margin orders Premium
Malaysia’s e-commerce gaining momentum Premium
Phillip Futures to offer stockbroking services Premium

Others Also Read


Vouchers