HISTORY

With 55,000 employees in 170 countries, we are truly global.
Founded in Switzerland in 1872, the Zurich Insurance Group (“Zurich”) is one of the world’s leading insurance groups, and one of the few to operate on a truly global basis.

At Zurich, our mission is to help customers understand and protect themselves from risk. With about 55,000 employees, we provide a wide range of general insurance and life insurance products and services. We serve individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. Our customers choose Zurich because they value our expertise, knowledge and stability. Our brand promise of intelligent protection is Zurich’s unique approach to understanding and managing risk – not only on behalf of our customers, but also in the long-term interest of all stakeholders.

In Malaysia, we have the expertise to meet your needs.
Zurich has a well-established presence in Malaysia, with a strong management team and committed and talented employees across the nation and supported by dedicated Life Insurance, General Insurance, Family Takaful and General Takaful agents. We combine our global expertise, operational efficiency and financial strength with the local heritage and knowledge of the Malaysian insurance market to deliver what matters, when it matters, to our customers in Malaysia.

About Zurich Takaful Malaysia Berhad
Zurich Takaful Malaysia Berhad [Formerly known as MAA Takaful Berhad] is a leading provider of Takaful products in Malaysia, recording approximately RM528.0 million in gross earned contributions in 2015 and has over 7,000 agents in its agency force.

On 4 May 2016, the Zurich Insurance Company Ltd entered into a conditional Share Purchase Agreement to acquire 100% of the share capital of MAA Takaful Berhad from MAA Group Berhad [Formerly known as MAA Holdings Berhad] and Solidarity Group Holding BSC (Closed) of Bahrain.

On 1 July 2016, MAA Takaful Berhad became part of Zurich, one of the world’s leading insurance groups.The acquisition marks a significant milestone for Zurich in Malaysia,an exciting market where Zurich is committed to broadening its solutions and contributing to the growth of the Takaful industry.

Effective 2 August 2016, MAA Takaful Berhad was officially renamed to Zurich Takaful Malaysia Berhad.

BOARD OF DIRECTORS

SHARIAH COMMITTEE

MANAGEMENT TEAM

FAQ

As of 1 July 2016, MAA Takaful became part of the Zurich Insurance Group (“Zurich”), one of the world’s leading insurance groups. The acquisition marks a significant milestone for Zurich in Malaysia, an exciting market where Zurich is committed to broadening its solutions and contributing to the growth of the Takaful industry.

For more information about this exciting venture, please read on:

About Zurich
Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, we provide a wide range of general insurance and life insurance products and services. We serve individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries.

For more information about Zurich in Malaysia, visit www.zurich.com.my

Our Mission
Our mission is to help our customers understand and protect themselves from risk.

Who We Are
Founded in Switzerland in 1872, Zurich is one of the world’s most experienced insurers. Our customers choose Zurich because they value our expertise, knowledge and stability. Our brand promise of intelligent protection is Zurich’s unique approach to understanding and managing risk – not only on behalf of our customers, but also in the long-term interest of all stakeholders.

What We Do
We are prioritising investment in distinctive positions – our high-potential market positions in the corporate market, commercial mid-market and select retail markets. We are managing other businesses for value, while turning around or exiting underperforming businesses.

How We Do It
We are growing our operating earnings by reducing complication and overhead costs throughout our business, increasing operational efficiency and improving processes, and enhancing investment returns. We are also building the necessary supporting capabilities. In all that we do, we are living up to the Zurich Commitment to stakeholders, which includes acting responsibly throughout our business and following our core values.

No.	Questions	Answers
A. About The Transaction
1.	What has happened?	Zurich Insurance Company Limited, a subsidiary of Zurich Insurance Group (“Zurich”), has acquired 100% of the shares of MAA Takaful Berhad (“MAAT”) from MAA Group Berhad (“MAAG”) and Solidarity Group Holding BSC (Closed) (“Solidarity”).
2.	Who is Zurich?	Zurich is one of the world’s largest insurance groups and one of the few to operate on a truly global basis. Founded in 1872 and headquartered in Zurich, Switzerland, Zurich’s mission is to help customers understand and protect themselves from risk. Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, Zurich provides a wide range of general insurance and life insurance products and services. Zurich serves individuals, small businesses, mid sized and large companies, including multinational corporations in more than 170 countries. Zurich has a solid financial position with strong credit rating granted by S&P’s (AA-/stable) . We aspire to become the best global insurer as measured by our customers, distributors, employees and shareholders.
3.	Why did Zurich acquire MAA Takaful ?	Zurich is keen to expand its presence in Malaysia as Malaysia is one of the key Asian markets with significant growth prospects. The acquisition of MAA Takaful is another milestone in our emerging-market strategy. It expands our presence in the Asia-Pacific region and positions us for further profitable growth. Because MAA Takaful is one of the most well-established Takaful operators in Malaysia, it offers Zurich a unique opportunity to acquire a national distribution platform and a more mature infrastructure to penetrate the Takaful market – something which would be extremely difficult to replicate from scratch. To be successful in this market, it is important that we offer products and solutions that meet all our customers’ needs, including the more than 60% of Malaysia’s population who are Muslims ( 2010 Census ). The size of the company and the Takaful market will also give Zurich a significantly enhanced capability in South East Asia. Zurich recognises the strengths of MAA Takaful in its 9 years of takaful expertise; a strong and experienced management team and loyal employee base; an extensive tied-agency in Takaful Family; a quality team to support General Takaful; and over 1.1 million certificate holders in Malaysia.
4.	Will the company name and brand be changed?	Yes, the company name will change to reflect the change of ownership of the company, as soon as we have received all the necessary approvals. MAA Takaful is a well respected company in Malaysia. We will look to combine MAA Takaful’s strong reputation and Takaful market knowledge with Zurich’s international brand. A gradual transition to the Zurich brand will be implemented.
5.	You already have a stake in the Malaysian insurance market ( Zurich Insurance Malaysia Berhad ). What is the relationship between MAA Takaful Berhad and Zurich Insurance Malaysia Berhad?	Zurich currently owns a 100% stake in Zurich Insurance Malaysia Berhad which holds conventional Life and GI licenses. With the acquisition of MAA Takaful Berhad, Zurich will acquire a controlling interest in Takaful Family and General Takaful licenses to penetrate the Takaful market. With the acquisition, Zurich Insurance Company Limited is parent company to both MAA Takaful Berhad and Zurich Insurance Malaysia Berhad.
6.	Can you tell us about Zurich Insurance Malaysia Berhad?	In 2011 Zurich acquired Malaysian Assurance Alliance Berhad ( MAA ), rebranded it as Zurich Insurance Malaysia Berhad in 2012. Since 2011, we have continued to build on the MAA base and develop the business strongly, bringing technology and new insurance solutions to the market. Today, Zurich Insurance Malaysia Berhad has a nationwide footprint of 39 branches. Agents and distributors remain as the dominant distribution channel for the Malaysian market as well as for Zurich. In the life insurance market, Zurich Insurance Malaysia Berhad has a market share of 2.7% ( measured by APE ) and is ranked 8th out of 14 players. Zurich Insurance Malaysia’s general insurance business has a market share of 3.6% and is ranked 11th out of 23 general insurance companies in Malaysia.
B. Policy Terms & Benefits
1.	How will this transaction affect me?	There will be no impact on the benefits (terms & conditions) and provisions included in existing certificate holder contracts of the company. The company will continue servicing existing MAA Takaful customers and their contracts will remain valid, with all obligations honored until the end of their term. MAA Takaful customers will continue to enjoy the high quality of services provided by the agent/ distributor and by the company.
2.	What are the benefits of this acquisition to me as a customer?	MAA Takaful customers will be provided with broader range of products for their financial protection and wealth management needs. They will also have access to insurance products from Zurich Insurance Malaysia and takaful products from MAA Takaful, in line with their wishes and requirements. MAA Takaful and Zurich Insurance Malaysia will synergise and complement each other and leverage on Zurich’s global expertise to broaden and develop more innovative products to meet the ever changing needs of customers.
3.	Do I need to do anything with my existing certificates?	You do not need to do anything but continue to enjoy the benefits of your existing certificates as well as the quality services provided by your agent and the company.
4.	Will there be any change in the certificate contribution?	The certificate contribution will not change as a result of this transaction.
C. Service Procedures
1.	Will my contact person change?	You will continue to be served by your existing agent / broker ( and the company’s Customer Service team / Claims team )
2.	Who will deal with my claims? Will there be any change in the claim procedures?	Your claims will be handled by your existing agent/ broker and the company’s Claims team with no change on claim procedures.
3.	Will the service standards be changed from what I used to receive from MAA Takaful ( and my agent )?	At Zurich, customers are always at the centre of everything we do. With effective procedures and measuring mechanisms in place, we assure you that the service quality will be maintained and enhanced continuously.
4.	Will the Customer Service centre I used to visit for services remain?	The company will continue to operate with the existing branch/office network. We will review our business strategy and customer needs to assess if further changes should take place.

MAA Takaful Berhad has been renamed to Zurich Takaful Malaysia Berhad

Kuala Lumpur, August 2, 2016

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Zurich Insurance Group (Zurich) today announced that
following its acquisition of MAA Takaful Berhad (MAAT),
one of Malaysia’s leading Takaful providers,
on 30th June 2016, MAAT has now been renamed
to Zurich Takaful Malaysia Berhad (ZTMB) effective today.

Salim Majid Zain, Chief Executive Officer of ZTMB, explained that the integration of ZTMB into the Zurich process commenced on 1st July 2016, as soon as MAAT officially became part of the Group. “We are extremely excited to be part of the Zurich family, a group that operates on a truly global basis. Our next step is to combine ZTMB’s strong reputation, local market knowledge and capability with Zurich’s international brand together with its resources as well as expertise. The full transition to the Zurich brand will be implemented over the coming months and completed in 2017.”

Zurich is uniquely positioned within Malaysia as it now offers a full range of Insurance and Takaful solutions covering both conventional products of Life and General Insurance as well as Family Takaful and General Takaful; all under a single brand.

ZTMB provides Zurich with appropriate licenses, products and infrastructure to enter the Takaful market. It enables Zurich to access new customer segments with a different range of product suite, in response to the growing demands of this segment and the great growth potential which the local Takaful market has to offer.

" For Zurich to fully realize its potential in Malaysia and achieve the market share that it aspires to, we must be able to provide attractive solutions to customer needs right across the country ; particularly in providing them with the necessary products to protect themselves and their assets. Through ZTMB and its sister company, Zurich Insurance Malaysia Berhad (ZIMB), we are confident that we are able to provide our customers with a wide range of Insurance and Takaful solutions across multiple customer segments. The two companies will tap into synergies and complement each other, while leveraging on Zurich’s global expertise to broaden and deepen the solutions available to meet the diverse needs of our customers,” saidPhilip Smith, Executive Director of ZTMB and Chief Executive Officer of ZIMB.

The company name change does not affect existing certificate holders and all terms and conditions will continue to be honored until the end of the term of these certificates. The company will continue to operate through its current network of branch offices across Malaysia and customers will continue to be served by their respective ZTMB agents or brokers.

Customers may visit the company’s new corporate website at www.zurich-takaful.com.my for further information. Additionally, ZTMB’s general line remains unchanged at 03 - 6287 6666.

The acquisition of MAAT from MAA Group Berhad (MAAG) and Solidarity Group Holding BSC (Closed) by Zurich was completed on 30th June 2016