Malaysia’s biggest Islamic insurers plan to expand in Indonesia, taking advantage of industry growth that’s almost three times the pace of their home market and increasing wealth in the world’s most-populous Muslim country.
Mayban Ageas, the nation’s largest insurer, is considering an acquisition in Indonesia, chief executive officer Hans De Cuyper said. Syarikat Takaful Malaysia Bhd, the second biggest, estimates its Indonesian unit will generate 50 per cent of its profits, from less than 10 per cent now, managing director Hassan Kamil said, without giving a timeframe………………………………………..Full Article: Source