AmMetLife

AmMetLife Insurance Berhad
Private limited company
Industry
Predecessor AmLife Insurance Berhad
Founded 30 April 2014 (2014-04-30)
Headquarters Menara AmMetLife
Jalan Lumut, Kuala Lumpur, Malaysia
Key people
Products
Parent
Website www.ammetlife.com
AmMetLife Takaful Berhad
Private limited company
Industry
Predecessor AmFamily Takaful Berhad
Founded 30 April 2014 (2014-04-30)
Headquarters Menara AmMetLife
Jalan Lumut, Kuala Lumpur, Malaysia
Key people
Products
  • Family takaful
Parent
Website www.ammetlife.com/takaful/

AmMetLife is the name of Malaysian life insurance company, AmMetLife Insurance Berhad, and family takaful operator, AmMetLife Takaful Berhad. The companies are joint ventures between AmBank Group and New York-based MetLife. They offer a range of insurance and wealth protection products through AmBank's branch offices.[1]

AmMetLife was formed when MetLife agreed to purchase stakes in AmBank Group's life insurance and family takaful businesses for RM812 million.[2] The deal closed in April 2014.[3] MetLife has 50 percent plus one share in AmMetLife Insurance and 50 percent less one share in AmMetLife Takaful.[4] As part of the deal, AmMetLife has an exclusive 20-year agreement to sell insurance and takaful products through AmBank and AmIslamic Bank.[2]

As of March 2015, AmMetLife had an agency force of 1,100 and had the 10th highest market share among 14 life insurers in Malaysia.[1]

References

  1. 1 2 "AmMetLife aims 5th position by 2019". The Sun. 2015-03-30. Retrieved 2015-08-23.
  2. 1 2 Singh, Rupinder (2013-12-20). "MetLife to acquire AMMB's life insurance and family takaful arm for RM812m". The Sun. Retrieved 2015-08-23.
  3. ↑ Annual Report 2015, AMMB Holdings Berhad, 2015-03-31, retrieved 2015-08-23
  4. ↑ Poo, Cheryl (2014-07-31). "AMMB banking on tie-ups with MetLife, Kurnia and MBf Cards to grow divisions". The Star. Retrieved 2015-08-23.

External links

This article is issued from Wikipedia - version of the 10/10/2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.