CIMB Equities Research sees the potential for Maybank’s group insurance and takaful business to grow in overseas markets, principally in Singapore, Indonesia and the Philippines, where Maybank has strong footholds in commercial banking.
Maybank said Etiqa is the fastest-growing insurance/takaful company in Malaysia year-to-date in all segments, including life insurance, family takaful, general insurance and general takaful.
“This reaffirmed our positive view on Maybank’s insurance business,” it said.
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