Etiqa Insurance and Takaful
TypePrivate limited company
IndustryInsurance and Takaful
Founded2007 (2007)
Headquarters
Dataran Maybank
Jalan Maarof, Kuala Lumpur
,
Malaysia
Key people
  • Y. Bhg. Datuk R. Karunakaran (Chairman)
  • Kamaludin Ahmad (Group CEO, Etiqa Insurance & Takaful)
ProductsInsurance and Takaful
Websitehttps://myetiqa.com/

Etiqa is an insurer and takaful operator in ASEAN. A member of the Maybank Group, it offers life and general insurance policies, as well as family and general takaful plans via more than 10,000 agents, 46 branches, 17 offices, a bancassurance network comprising over 490 branches, cooperatives, brokers and online platforms across Malaysia, Singapore, Indonesia, Philippines and Cambodia. Etiqa is also a digital insurance/Takaful player in Malaysia with over 55% market share of online premium/contribution in the past three consecutive years.[1] Etiqa is also a bank assurance player in Malaysia, in Digital Life Insurance in Singapore and a Group Medical insurer in the Philippines.

Etiqa is composed of four main operating entities in Malaysia, namely, Etiqa General Insurance Berhad, Etiqa Life Insurance Berhad, Etiqa General Takaful Berhad and Etiqa Family Takaful Berhad,[2] besides two smaller operating entities in Labuan and operating entities in Singapore, Indonesia, the Philippines and Cambodia.

History

  • Etiqa traces its root back to 2005 when Maybank Ageas (formerly known as Maybank Ageas), Maybank General Assurance, Maybank Life Assurance and Maybank Takaful merged with Malaysia National Insurance Berhad (MNI) and Takaful Nasional Sdn. Bhd.
  • In 2007, the Etiqa name was launched
  • In 2009, Etiqa Insurance Berhad opened its first branch in Singapore
  • In 2014, Etiqa Insurance PTE LTD Singapore (EIPL) expanded its core business from general insurance to life insurance
  • Also in 2014, Etiqa acquired shares in Asian Life and General Assurance in the Philippines (ALGA) which was renamed Etiqa Life and General Assurance Philippines (ELGAP) in 2016
  • In 2017, Etiqa acquired the majority stake in PT Asuransi Asoka Mas (Asoka) which it has since renamed PT Asuransi Etiqa International Indonesia (EII) in 2020
  • In 2018, in support of Bank Negara Malaysia's Islamic Financial Services Act 2013 and to better serve the stakeholders, Etiqa Malaysia became four main operating entities i.e. Etiqa General Insurance Berhad, Etiqa Life Insurance Berhad, Etiqa General Takaful Berhad and Etiqa Family Takaful Berhad
  • In 2020, Etiqa began its operations in Cambodia under Etiqa General Insurance Cambodia and Etiqa Life Insurance Cambodia

References

  1. ↑ Malaysia, Agenda. "Annual Reports | Maybank". Maybank Malaysia. Retrieved 2020-12-11.
  2. ↑ "Maybank's Etiqa split into four separate companies". The Edge Markets. 2018-01-10. Retrieved 2020-12-14.
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