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.