Tuesday, April 5, 2011

ING Public Takaful Ehsan targets contributions of over RM800m by 2015

KUALA LUMPUR: ING Public Takaful Ehsan Bhd targets to grow its market share to 10% with projected contributions of over RM800 million by 2015.

The company will leverage on ING Insurance and the Public Bank group's leadership positions and infrastructures in the banking and insurance industries to drive growth and entrench its position in the family Takaful segment.

Its chief executive officer Saiful Yazan Ahmad said on Tuesday, April 7 that ING Public Takaful Ehsan was'' focusing on developing medical and investment-linked products with medical features and the initial plan it to increase the takaful penetration rate domestically, especially in rural areas.

ING Public Takaful Ehsan would develop these products for this year and aim to ride on ING Insurance's market leadership position in these categories and 'stake our claim in this area, which is still in its infancy stage in the takaful market'.

Saiful said the initial focus would be to increase the takaful penetration rate domestically, especially in the rural areas. The next stage is to expand and venture into the overseas markets in the next few years.

ING has a 60% stake in ING Public Takaful Ehsan while PUBLIC BANK BHD [] and Public Islamic Bank Bhd each has a 20% equity participation.

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