Syarikat Takaful Malaysia Bhd. will begin operating its family takaful and general takaful businesses separately, effective June 1.
The company will operate the family takaful business, while Syarikat Takaful Malaysia Am Bhd., a new wholly owned subsidiary, will operate the general takaful business.
In its June 1 Bursa Malaysia filing, the company also said it has changed its name to Syarikat Takaful Malaysia Keluarga Bhd.
Bank Negara Malaysia approved the company's name change and the split of the two takaful businesses in August 2017 and will deliver the respective licenses soon, the filing showed.
Takaful is a type of insurance that complies with Islamic laws.
