STRUCTURED PRODUCTS | Cesar Tordesillas, Malaysia

ING Public wants 10% of takaful market by 2015

ING Public Takaful Ehsan wants its market share in the takaful industry to jump from 2 percent to 10 percent in 2015.


Its chief executive officer Saiful Yazan Ahmad plans to boost the company's banca takaful segment by tying up with two more banks and increasing the number of agents to 1,500 this year.

It has 300 agents at present, and has tied-up with Public Islamic Bank to distribute its products.

"Last year, we focused on banca takaful and it was good, with an estimated total contribution of RM15 million.

"This year, we want to focus on the retail business, and have target the total contribution from this segment to be RM23 million," said Saiful.

Saiful expects to secure 28,000 new policy holders via its banca takaful channel and 14,000 from the agency retail segment by year-end.

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