Syarikat Takaful Malaysia Bhd has appointed its parent company BIMB Holdings Bhd's executive director Hassan Kamil as group managing director with effect from April 1.
Hassan is responsible for the overall management of Takaful Malaysia and its major subsidiaries, including Asean Retakaful International (L) Ltd and PT Syarikat Takaful Indonesia.
In a statement, Takaful Malaysia said Hassan had experience in actuarial, finance, investment and marketing, with several previous postings in the United States, Hong Kong and Indonesia.
“With this appointment, Hassan will be the first qualified actuary to head a Takaful operator,” it said.
Prior to this, Hassan was BIMB's executive director and a non-independent, non-executive director of Takaful Malaysia.
He worked in the United States as an actuary from 1987 to 1994 before returning to Malaysia as deputy general manager at Malaysia National Insurance.
In 1996, he joined ING Insurance Bhd, previously known as Aetna Universal Insurance, as senior vice president and chief actuary. In 2004, he became the deputy general manager for PT AIA Indonesia.
Hassan said: “The Islamic insurance market is in a state of evolution, particularly in light of potential growth within the Islamic financial market.”
“I hope to apply actuarial skills and techniques to syariah principles especially in the areas of risk management and product design. This will enhance participants’ returns, and profits will be fairly shared based on risk profiles,” he said.