Allianz boosts Malaysian Takaful market
The over-insured but tiny Malaysian Takaful market may be about to see yet another new entrant. It seems that Allianz Malaysia is about to enter the market by acquiring a stake in Takaful Ikhlas.
The Malaysian Takaful market is worth around $10bn and is attractive to new entrants more for its growth potential rather than its present value. The market is growing at between 15% and 20% a year.