Takaful Malaysia
Malaysia's first takaful operator, providing family and general Islamic insurance solutions.
Last updated October 30, 2026
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Overview
Takaful Malaysia is the brand used by Malaysia's first takaful operator. Takaful is an Islamic insurance model based on mutual assistance, in which participants contribute to a fund that supports eligible claims and benefits in accordance with Shariah principles. The business was established in 1984 after the Malaysian government created a task force to assess the feasibility of an Islamic insurance company. It began operations on 22 July 1985, in the same period that Malaysia enacted its first Takaful Act. The group developed from a composite takaful operator into a structure with separate family and general takaful businesses. Syarikat Takaful Malaysia Keluarga Berhad is the holding company for the Family Takaful business and owns all of Syarikat Takaful Malaysia Am Berhad, which operates the General Takaful business. Both entities use the Takaful Malaysia brand and together provide protection, savings, investment-linked and general-risk products through a nationwide branch network reported at 24 locations. Family Takaful addresses longer-term personal and household needs, including protection against death and disability, medical and health risks, education and retirement planning, and other structured participant benefits. General Takaful covers non-life risks such as motor, property, travel and commercial exposures. The brand's market proposition combines Islamic contractual principles with broad consumer access and an emphasis on affordable protection. Takaful Malaysia became a public limited company on 19 October 1995 and was listed on the Main Board of Bursa Malaysia Securities, now called the Main Market, on 30 July 1996. A major structural change followed the Islamic Financial Services Act 2013. On 1 June 2018, the group separated its former composite licence into two licensed entities, aligning its operating model with Malaysia's regulatory framework for distinct family and general takaful businesses. In addition to its Malaysian operations, the group has two subsidiaries in Indonesia: P.T. Asuransi Takaful Keluarga and P.T. Syarikat Takaful Indonesia. The brand has also been recognised for financial performance, employer reputation, motor takaful, innovation and shareholder returns. As at 31 March 2023, substantial shareholders identified in the references included Lembaga Tabung Haji, the Employees Provident Fund Board and Kumpulan Wang Persaraan (Diperbadankan).
History
Takaful Malaysia emerged from Malaysia's early effort to create an Islamic alternative to conventional insurance. On 29 November 1984, the Malaysian government established a task force to study whether a domestic takaful operator could be formed. The initiative coincided with the enactment of the Takaful Act, which provided an initial legal basis for the sector. The resulting company became Malaysia's first takaful operator and commenced business on 22 July 1985. The operator initially combined family and general takaful activities within a composite structure. Its family business focused on longer-term participant protection and financial planning, while its general business addressed motor, property, travel and other non-life risks. This dual scope allowed the Takaful Malaysia brand to serve both individuals and organisations and helped establish takaful as part of Malaysia's broader Islamic financial-services industry. A corporate transition took place in the 1990s. Takaful Malaysia was converted into a public limited company on 19 October 1995. It subsequently became a listed company when its shares were admitted to the Main Board of Bursa Malaysia Securities Berhad on 30 July 1996; the exchange's Main Board is now known as the Main Market. The listing gave the operator access to public capital markets while retaining a shareholder base that included Malaysian institutional investors. The group later expanded its regional presence through Indonesian subsidiaries, including P.T. Asuransi Takaful Keluarga and P.T. Syarikat Takaful Indonesia. Its principal operating identity, however, remained Malaysian, supported by a network of branches reported at 24 locations nationwide and by products distributed under the common Takaful Malaysia brand. Regulatory reform produced the most significant recent organisational change. The Islamic Financial Services Act 2013 required the former composite licensing arrangement to be separated. On 1 June 2018, Syarikat Takaful Malaysia Keluarga Berhad became the holding company managing the Family Takaful business, while its wholly owned subsidiary, Syarikat Takaful Malaysia Am Berhad, operated the General Takaful business. The two licensed entities continued to use Takaful Malaysia as their customer-facing brand. The group has been recognised in awards covering corporate performance, shareholder returns, return on equity, employer attractiveness, motor takaful and innovation. Listed substantial shareholders reported as at 31 March 2023 included Lembaga Tabung Haji, the Employees Provident Fund Board and Kumpulan Wang Persaraan (Diperbadankan).
- 2018
Family and general takaful businesses separated
[1]On 1 June, the group separated its composite licence into two licensed entities in accordance with the Islamic Financial Services Act 2013.
- 1996
Listing on Bursa Malaysia
[1]The company was listed on the Main Board of Bursa Malaysia Securities on 30 July.
- 1995
Conversion into a public limited company
[1]The company became a public limited company on 19 October.
- 1985
Operations commence
[1]Takaful Malaysia began operating on 22 July.
- 1984
Government task force establishes the basis for a Malaysian takaful operator
[1]The Malaysian government created a task force on 29 November to assess the feasibility of establishing an Islamic insurance company.
- 1984
Takaful Malaysia is incorporated
[1]The company was incorporated as Malaysia's first takaful operator during the year in which the Takaful Act was enacted.
Products and positioning
An established Malaysian Islamic insurance provider positioned around accessible, comprehensive and Shariah-compliant family and general protection.
Family insurance
Family Takaful
The Family Takaful business provides longer-term Shariah-compliant protection and financial-planning solutions for individuals and families. Its scope can include protection against death and disability, medical and health needs, education planning, retirement preparation and participant savings or investment objectives. The business is managed through Syarikat Takaful Malaysia Keluarga Berhad.
General insurance
General Takaful
The General Takaful business covers non-life risks for personal and commercial customers. Its product scope includes motor, property, household, travel, personal accident and business-related protection. Syarikat Takaful Malaysia Am Berhad operates this business as a wholly owned subsidiary of the Family Takaful holding company.
Motor insurance
Motor Takaful
Motor Takaful is a general takaful offering for vehicle-related risks. It is one of the brand's publicly recognised product areas and has received iBanding.com awards for Best Motor Takaful Company in Malaysia. Specific policy terms and product launch dates are not established in the supplied references.
Brand decisions
2018
Separation of the composite takaful licenceStrategyBackground
The Islamic Financial Services Act 2013 required the former composite takaful structure to be separated into distinct licensed family and general takaful entities.
Action taken
On 1 June 2018, Syarikat Takaful Malaysia Keluarga Berhad became the holding company for the Family Takaful business and retained full ownership of Syarikat Takaful Malaysia Am Berhad, which operates the General Takaful business.
Aftermath
The two businesses continued operating under the Takaful Malaysia brand while complying with the separate licensing structure.
Recent events
Takaful Malaysia appoints Nor Azman Zainal as Group CEO[3]
Takaful Malaysia appointed Nor Azman Zainal as its new Group CEO, effective January 1, 2022, replacing retiring CEO Datuk Seri Mohamed Hassan Md Kamil.
Sources3 sources
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