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PruBSN is Malaysia’s leading takaful provider

Posted on April 1, 2013, Monday

Azim Mithani

Azim Mithani

KUCHING: Prudential BSN Takaful Bhd (PruBSN) announced new business sales, up 15 per cent to RM265.7 million on an Annual Contribution Equivalent (ACE) basis for the financial year ended December 31, 2012 (2011 figure stood at RM231 million).

According to a press release, gross contributions increased by 38 per cent to RM782.3 million, up from RM568.9 million in 2011. The results confirmed PruBSN as the leading takaful provider in Malaysia with a market share of 28.4 per cent.

“The strong performance in 2012 was underpinned by the strength of Prudential’s franchise in Malaysia, its robust multi-distribution channel strategy and new product launches,” it stated.

PruBSN was named the ‘Best Takaful Operator’ in Asia by an international based publishing company, CPI Financial, and was the first runner-up for the ‘Best Newcomer Contact Centre’ award by the Customer Relationship Management and Contact Centre Association Malaysia.

The ‘Best Takaful Operator’ award was presented at Dubai in December 2012, while the Best Newcomer Contact Centre award was presented in Kuala Lumpur earlier in October 2012.

Commenting on the results, PruBSN’s chief executive officer Azim Mithani said, “It demonstrates the success of our clear and focused strategy, to be a leading provider of innovative and dynamic solutions within Malaysia’s takaful industry.

“Last year we were confirmed as the number one takaful operator in Malaysia for the first time in our history. In 2012, we broadened our geographical footprint and distribution of our syariah-compliant products and services to Melaka and Ipoh and also formed a bancatakaful partnership with Standard Chartered Saadiq.

“We are confident in the strength of our business, our strategy and the continued appeal of our products.

“We will remain focused on maintaining our professionalism, exemplary customer service and product innovation, while constantly evaluating new distribution channels, including using new technology to drive further growth,” he added.

He also noted that the takaful industry in Malaysia is the largest in Southeast Asia and represented a compelling opportunity for PruBSN to forge forward.

PruBSN is a joint venture between Bank Simpanan Nasional and Prudential plc, which hold a 51 per cent and 49 per cent stake, respectively.

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