SYED MOHEEB LEAVES TAKAFUL IKHLAS AFTER 10 YEARS
Source: The Malaysian Reserve, 6 August 2012
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.