MALAYSIA - TAKAFUL - Insurer sees growth in Islamic products : up to 1/3 of new policies in five years

KUALA LUMPUR: Great Eastern Holdings Ltd, the biggest life insurer in Malaysia, is aiming for Islamic products to make up a third of its sales from new policies in five years as it taps a younger and more affluent Muslim population.

Great Eastern and its partner Koperasi Angkatan Tentera Malaysia Bhd received a so-called Takaful joint-venture licence from the Malaysian central bank last year, allowing them to offer Islamic insurance products. (source)