KUALA LUMPUR: HONG LEONG FINANCIAL GROUP BHD [] (HLFG) hopes to achieve RM100 million in gross premiums from its takaful business by the end of the current financial year in June 30, 2011, it said on Wednesday, May 11.
This was an increase of nearly 67% from the RM60 million registered in FY10.
HLFG and Mitsui Sumitomo Insurance Co. Ltd's (MSI) conventional insurance partnership has been expanded to include Islamic insurance with MSI acquiring a 35% stake in HLFG's takaful company.
"Our initial strategic partnership on conventional insurance has already delivered marked growth and progress in both our businesses,' said HLFG president and CEO Raymond Choong.
"We are very optimistic we can now further accelerate our growth as one of the leading insurance and takaful providers in Malaysia,' he said.
This was an increase of nearly 67% from the RM60 million registered in FY10.
HLFG and Mitsui Sumitomo Insurance Co. Ltd's (MSI) conventional insurance partnership has been expanded to include Islamic insurance with MSI acquiring a 35% stake in HLFG's takaful company.
"Our initial strategic partnership on conventional insurance has already delivered marked growth and progress in both our businesses,' said HLFG president and CEO Raymond Choong.
"We are very optimistic we can now further accelerate our growth as one of the leading insurance and takaful providers in Malaysia,' he said.
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