SYED MO­HEEB LEAVES TAKA­FUL IKHLAS AF­TER 10 YEARS

Source: The Malaysian Re­serve, 6 Au­gust 2012

Insurance - - PEOPLE COLUMN -

Datuk Syed Mo­heeb Syed Ka­marulza­man leaves Taka­ful Ikhlas Sdn Bhd af­ter build­ing up the home­grown taka­ful out­fit from the ground up to be­come the na­tion’s third-largest taka­ful op­er­a­tor in terms of gross re­turn con­tri­bu­tion.

Syed Mo­heeb, who had stints with lo­cal and in­ter­na­tional in­sur­ers span­ning 38 years, has submitted his res­ig­na­tion as Taka­ful Ikhlas’ pres­i­dent and chief ex­ec­u­tive of­fi­cer (CEO). He was brought in by the se­nior man­age­ment of MNRB Hold­ings Bhd to start its wholly-owned taka­ful unit which was in­cor­po­rated in Septem­ber 2002.

Ac­cord­ing to Bank Ne­gara Malaysia statis­tics, the taka­ful funds in­creased by 15.8% to RM17 bil­lion as at the end of 2011. To­tal taka­ful con­tri­bu­tions ac­counted for 13% of to­tal pre­mi­ums and con­tri­bu­tions in the in­surance and taka­ful in­dus­try was up from 12.4% in 2010.

Syed Mo­heeb be­gan his in­surance ca­reer at UK-based Royal In­surance Sdn Bhd be­fore join­ing US-owned Aetna In­surance where he headed the gen­eral in­surance di­vi­sion. He then moved on to head DRBHi­com Group’s in­surance unit then known as South-East Asia In­surance Sdn Bhd. His next port of call was as CEO of Ger­man­based Ger­ling Rein­sur­ance.

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