Takaful Operators Should Understand Opportunities In ASEAN

KUALA LUMPUR, March 24 (Bernama) — Malaysian corporates including takaful operators should further understand the opportunities in ASEAN, in order to fully utilise Malaysia’s chairmanship of ASEAN this year and take part in the its sustainable future growth.

Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar said Malaysian corporates should leverage greater share of global capital and trade flows of the ASEAN Economic Community, thus generating sustainable growth for the country.

“We must deepen financial integration and inclusion, and ensure that all sectors of our economy are fully engaged in the ASEAN Community,” he said in his keynote address at the Takaful StarNite 2015 annual dinner and awards night here, tonight.

Abdul Wahid also urged the takaful industry to demonstrate greater diversity, especially in the appointment of women to top management posts.

“Embrace diversity in your respective organisations. This is important not just for your own benefit but also from the country’s perspective. It is important for us to ensure that economic progress is inclusive in that no one will be left behind from this development,” he said.

He also called for the continued support for the Government as it continued with the Economic Transformation Programme (ETP) and “our plans for ASEAN”.

Malaysian Takaful Association (MTA) Chairman Ahmad Rizlan Azman said Malaysia continued to be a leader among ASEAN countries in the takaful industry with a market share exceeding 70 per cent in terms of gross takaful contributions.

“Throughout 2014, the local takaful industry registered new business gross contributions totalling RM5.6 billion, an increase of 2.3 per cent from RM5.48 billion in the previous year,” he said.

A total of 19 awards were presented during the event including ?Best Individual Agent, Corporate Agent of the Year and Best Takaful Operator Agency.

— BERNAMA

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