KUALA LUMPUR: MAA Takaful Bhd is expecting RM1 billion in total revenue in five years time with the strengthening of its distribution channels, says chief executive officer Salim Majid Zain.
The contributions will come mainly from life insurance, which currently accounts for 60 per cent of total revenue, with the remaining from the general segment, he told reporters at a press conference here on Monday, Sept 20.
"We expect to receive RM750 million from life insurance in five years time. With the strengthening of our agency force, it will also contribute to ourfuture growth," he said.
According to Salim Majid, MAA Takaful, now in its third year of operations, is expected to earn RM250 million revenue by year-end.
Up to June this year, the company had raked in revenue of RM160 million.
Meanwhile, the company signed a three-party collaboration agreement with the Life Insurance and Market Research Association (LIMRA) International and the Centre for Research and Training (CERT).
Under this agreement, LIMRA and CERT will develop and implement a comprehensive Shariah-compliant Leadership Development Programme based on agency best practices, to assist MAA Takaful in strengthening its distribution network.
At present, MAA Takaful has about 6,000 active agents.
The company hopes that within the next five years, half of the current active agents, can be accredited as Certified Manager of Financial Advisors (CMFA).
At the same event, MAA Takaful also held a graduation ceremony involving 30 top chief consultants and awarded them the CMFA. - Bernama'
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