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Etiqa

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Etiqa Life Insurance Berhad
Company typePrivate limited company
IndustryInsurance
Founded2007; 17 years ago (2007)
Headquarters
Dataran Maybank
Jalan Maarof, Kuala Lumpur
,
Malaysia
Key people
  • Y. Bhg. Datuk R. Karunakaran (Chairman)
  • Kamaludin Ahmad (CEO Maybank Ageas Holdings Berhad)
  • Paul Low Hong Ceong (CEO)
ProductsLife insurance
RevenueRM02.43 billion (2021)
RM00.21 billion (2021)
Total assetsRM13.18 billion (2021)
Total equityRM01.57 billion (2021)
ParentMaybank Ageas Holdings Berhad
Websitehttps://myetiqa.com/
Etiqa General Insurance Berhad
Company typePrivate limited company
IndustryInsurance
Founded2007; 17 years ago (2007)
Headquarters
Dataran Maybank
Jalan Maarof, Kuala Lumpur
,
Malaysia
Key people
  • Y. Bhg. Datuk R. Karunakaran (Chairman)
  • Kamaludin Ahmad (CEO Maybank Ageas Holdings Berhad)
  • Fukhairudin Bin Mohd Yusof (CEO)
ProductsGeneral insurance
RevenueRM01.51 billion (2021)
RM00.13 billion (2021)
Total assetsRM 6.28 billion (2021)
Total equityRM01.19 billion (2021)
ParentMaybank Ageas Holdings Berhad
Websitehttps://myetiqa.com/
Etiqa Family Takaful Berhad
Company typePrivate limited company
IndustryTakaful
Founded2007; 17 years ago (2007)
Headquarters
Dataran Maybank
Jalan Maarof, Kuala Lumpur
,
Malaysia
Key people
  • Y. Bhg. Datuk R. Karunakaran (Chairman)
  • Kamaludin Ahmad (CEO Maybank Ageas Holdings Berhad)
  • Zafri Ab Halim (CEO)
Products
  • Family takaful
RevenueRM02.35 billion (2021)
RM00.27 billion (2021)
Total assetsRM15.29 billion (2021)
Total equityRM02.22 billion (2021)
ParentMaybank Ageas Holdings Berhad
Websitehttps://myetiqa.com/
Etiqa General Takaful Berhad
Company typePrivate limited company
IndustryTakaful
Founded2007; 17 years ago (2007)
Headquarters
Dataran Maybank
Jalan Maarof, Kuala Lumpur
,
Malaysia
Key people
  • Y. Bhg. Datuk R. Karunakaran (Chairman)
  • Kamaludin Ahmad (CEO Maybank Ageas Holdings Berhad)
  • Shahrul Azuan Bin Mohamed (CEO)
Products
  • General takaful
RevenueRM01.87 billion (2021)
RM00.27 billion (2021)
Total assetsRM 5.02 billion (2021)
Total equityRM01.41 billion (2021)
ParentMaybank Ageas Holdings Berhad
Websitehttps://myetiqa.com/

Etiqa is a leading insurer and takaful operator in ASEAN. A member of the Maybank Group, it offers a full range of life and general insurance policies, as well as family and general takaful plans via more than 10,000 agents, 46 branches, 17 offices, a bancassurance network comprising over 490 branches, cooperatives, brokers and online platforms across Malaysia, Singapore, Indonesia, Philippines and Cambodia. Etiqa is also the leading digital insurance/Takaful player in Malaysia with over 55% market share of online premium/contribution in the past three consecutive years.[1] Etiqa is also the leading bank assurance player in Malaysia, a leader in Digital Life Insurance in Singapore and a leading Group Medical insurer in the Philippines.

Etiqa is composed of four main operating entities in Malaysia, namely, Etiqa General Insurance Berhad, Etiqa Life Insurance Berhad, Etiqa General Takaful Berhad and Etiqa General Takaful Berhad,[2] besides two smaller operating entities in Labuan and operating entities in Singapore, Indonesia, the Philippines and Cambodia.

History

  • Etiqa traces its root back to 2005 when Maybank Ageas (formerly known as Maybank Ageas), Maybank General Assurance, Maybank Life Assurance and Maybank Takaful merged with Malaysia National Insurance Berhad (MNI) and Takaful Nasional Sdn. Bhd.
  • In 2007, the Etiqa name was launched
  • In 2009, Etiqa Insurance Berhad opened its first branch in Singapore
  • In 2014, Etiqa Insurance PTE LTD Singapore (EIPL) expanded its core business from general insurance to life insurance
  • Also in 2014, Etiqa acquired shares in Asian Life and General Assurance in the Philippines (ALGA) which was renamed Etiqa Life and General Assurance Philippines (ELGAP) in 2016
  • In 2017, Etiqa acquired the majority stake in PT Asuransi Asoka Mas (Asoka) which it has since renamed PT Asuransi Etiqa International Indonesia (EII) in 2020
  • In 2018, in support of Bank Negara Malaysia's Islamic Financial Services Act 2013 and to better serve the stakeholders, Etiqa Malaysia became four main operating entities i.e. Etiqa General Insurance Berhad, Etiqa Life Insurance Berhad, Etiqa General Takaful Berhad and Etiqa Family Takaful Berhad
  • In 2020, Etiqa began its operations in Cambodia under Etiqa General Insurance Cambodia and Etiqa Life Insurance Cambodia

Awards

  • Motordata Research Consortium Award 2021 - Fastest Estimating Claims Approval Time for Own Damaged Claims - Etiqa General Takaful Berhad[3]
  • Motordata Research Consortium Award 2021 - Most Accurate Estimate to Claims Approval Amount - Etiqa General Takaful Berhad[4]
  • Global Banking & Finance Awards 2020 - Best General Takaful Provider, Malaysia Category – Winner[5]
  • The Asset A Triple Islamic Finance Awards 2020 - Best Islamic Takaful Institution, General Takaful – Winner[6]
  • The Asset A Triple Islamic Finance Awards 2020 - Best Islamic Takaful Institution, Family Takaful – Winner[7]
  • The Asset Benchmark Research Awards 2020 - Top Investment House, Etiqa Insurance & Takaful (Rank 1)[8]
  • The Malaysian Takaful Association 2020 - Best Takaful Operator, Banca Takaful, Family Takaful Business Category – Winner[9]
  • The Malaysian Takaful Association 2020 - Best Takaful Operator, General Takaful Business – Winner[10]
  • The Malaysian Takaful Association 2020 - Best Takaful Operator, General Agency Takaful Business – Winner[11]
  • Islamic Finance News Awards 2020 - Best Takaful Company, General and Family Takaful – Winner[12]
  • Insurance Asia Awards 2020 - Millennial Insurance Initiative of the Year – Singapore[13]
  • Reader's Digest Quality Service Awards 2020 - Home and Contents Insurance – Gold Winner[14]
  • Global Brands Magazine Award 2019 - Best Customer-Centric Insurance Brand[15]
  • Insurance Asia Awards 2019 - Marketing Initiative of the Year – Singapore[16]
  • The Singapore 1000 - Singapore 1000 Company Emerging 2019[17]
  • Insurance Asia Awards 2020 - CSR Initiative of the Year - Philippines[18]

References

  1. ^ Malaysia, Agenda. "Annual Reports | Maybank". Maybank Malaysia. Retrieved 2020-12-11.
  2. ^ "Maybank's Etiqa split into four separate companies". The Edge Markets. 2018-01-10. Retrieved 2020-12-14.
  3. ^ "Log into Facebook". Facebook. Retrieved 2021-06-02. {{cite web}}: Cite uses generic title (help)
  4. ^ "Log into Facebook". Facebook. Retrieved 2021-06-02. {{cite web}}: Cite uses generic title (help)
  5. ^ "GLOBAL BANKING & FINANCE AWARDS® – 2020 – Award Winners - Global Banking & Finance Review". Retrieved 2021-04-12.
  6. ^ "The Asset Triple A Islamic Finance Awards 2020 - Issuer - Adviser Awards". www.theasset.com. Retrieved 2021-04-12.
  7. ^ "The Asset Triple A Islamic Finance Awards 2020 - Issuer - Adviser Awards". www.theasset.com. Retrieved 2021-04-12.
  8. ^ "Top investment houses in Asian local currency bonds for 2020 | Asset Benchmark Research". www.theasset.com. Retrieved 2021-04-12.
  9. ^ Takaful StarNite 2020, retrieved 2021-04-12
  10. ^ Takaful StarNite 2020, retrieved 2021-04-12
  11. ^ Takaful StarNite 2020, retrieved 2021-04-12
  12. ^ "IFN Non-Banking Financial Institutions Poll 2020: Winners revealed!". Islamic Finance News. 2020-11-10. Retrieved 2021-04-12.
  13. ^ "Insurance Asia Awards presents the winners in its first ever digital awards presentation". Insurance Asia. Retrieved 2021-04-12.
  14. ^ Digest, Reader's. "Singapore Quality Service Awards 2021 Winners". Quality Service Award - Asia. Retrieved 2021-04-12.
  15. ^ "AWARD WINNERS 2019". Global Brands Magazine. Retrieved 2021-04-12.
  16. ^ "Here are the winners of the Insurance Asia Awards 2019". Insurance Asia. Retrieved 2021-04-12.
  17. ^ "Awards and Recognition". Online Insurer with Fast Claim Processing, Maybank Group. 2018-03-27. Retrieved 2021-04-12.
  18. ^ "Insurance Asia Awards presents the winners in its first ever digital awards presentation". Insurance Asia. Retrieved 2021-04-12.
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