This article first appeared in The Edge Malaysia Weekly on January 10, 2018 - January 16, 2018

KUALA LUMPUR: Etiqa, the insurance and takaful arm of Malayan Banking Bhd (Maybank), has split the company into four separate entities to place greater focus on the respective businesses.

In a statement yesterday, Etiqa said the move was also to minimise risks and ensure continuous stability and to drive its vision to have the most efficient shareholder, capital and organisational structure.

“To deliver these efficiencies and to steer Etiqa to greater heights, we have appointed four new chief executive officers for each of the four new entities,” it added.

They are Fukhairudin Mohd Yusof for Etiqa General Insurance Bhd, Zaharudin Daud for Etiqa General Takaful Bhd, Zafri Ab Halim for Etiqa Family Takaful Bhd and Kamaludin Ahmad for Etiqa Life Insurance Bhd, with Kamaludin in an interim capacity.

“We are now four organisations but still the same Etiqa, with the aim to serve you better as you prepare for memorable milestones or unfortunate events in your life,” said Kamaludin, who is the CEO of Maybank Ageas Holdings Bhd — the parent of the four new entities.

Etiqa is a multi-channel distributor of insurance and Takaful products via its 10,000-agency force, 24 branches, more than 350 Maybank branches, ATMs and other third-party banks. Regionally, it has expanded to Singapore, the Philippines and Indonesia.

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