AIA Public

AIA PUBLIC Takaful Bhd.
Company typePrivate limited company
Industry
Founded2011; 13 years ago (2011) (as ING Public Takaful Ehsan Berhad)
Headquarters
Menara AIA
99 Jalan Ampang, Kuala Lumpur
,
Malaysia
Key people
  • Thomas Mun (Chairman)
  • Elmie Aman Najas (CEO)
Products
  • Family takaful
RevenueIncrease RM215 million (2014)[1]
Decrease -RM08 million (2014)[1]
Total assetsIncrease RM432 million (2014)[1]
Total equityDecrease RM071 million (2014)[1]
Parent
Websitewww.aiapublic.com.my

AIA PUBLIC Takaful Bhd. is a Malaysian takaful company, jointly owned by AIA Group Limited and Public Bank Berhad.

The company is the successor to two former takaful operators—ING Public Takaful Ehsan and AIA AFG Takaful. ING Public was the takaful joint venture between ING Group and Public Bank until 2012, when AIA acquired ING's Malaysian operations.[2] AIA AFG was the takaful joint venture between AIA and Alliance Financial Group (AFG). Subsequent to AIA's acquisition of ING's stake in ING Public (renamed AIA PUBLIC), AFG disposed of its interest in AIA AFG.[3] AIA AFG was then merged into AIA Public, with the transfer of business completed in 2014.[4][1] The series of transactions resulted in AIA Group and Public Bank holding 70 and 30 percent interests respectively in the company.[1]

AIA PUBLIC distributes family takaful products via AIA Malaysia's 17,000 insurance agents (known as life planners) (as of 2015) and Public Bank's over 250 branches in Malaysia.[5]

The company made its first surplus distribution in 2014.[6]

References

  1. ^ a b c d e f g h Annual Report 2014 (PDF), AIA Public Takaful Berhad, 2014-11-30, retrieved 2015-08-24[permanent dead link‍]
  2. ^ Ng, Bei Shan (2013-12-12). "Further takaful sector consolidation expected". The Star. Retrieved 2015-08-24.
  3. ^ Teo, Ronnie (2013-03-13). "Disposal of interest in AIA AIG Takaful no big impact for AFG". The Borneo Post. Retrieved 2015-08-24.
  4. ^ "AIA successfully integrated its takaful companies". The Sun. 2014-03-03. Retrieved 2015-08-24.
  5. ^ "AIA strengthens Takaful, life planner biz with 2 key appointments". The Star. 2014-02-04. Retrieved 2015-08-24.
  6. ^ "AIA Public declares RM8.5mil surplus". The Star. 2014-08-22. Retrieved 2015-08-24.