AmMetLife

AmMetLife is the name of Malaysian life insurance company, AmMetLife Insurance Berhad, and family takaful operator, AmMetLife Takaful Berhad. The companies are joint ventures between AmBank Group and New York-based MetLife. They offer a range of insurance and wealth protection products through AmBank's branch offices.[1]

AmMetLife Insurance Berhad
TypePrivate limited company
Industry
PredecessorAmLife Insurance Berhad
Founded30 April 2014 (2014-04-30)
Headquarters
Menara 1 Sentrum
Jalan Tun Sambanthan, Kuala Lumpur
,
Malaysia
Key people
  • Rangam Bir (CEO)
  • Sathasivan Kunchamboo (Chairman)
Products
Parent
Websitewww.ammetlife.com
AmMetLife Takaful Berhad
TypePrivate limited company
Industry
PredecessorAmFamily Takaful Berhad
Founded30 April 2014 (2014-04-30)
Headquarters
Menara 1 Sentrum
Jalan Tun Sambanthan, Kuala Lumpur
,
Malaysia
Key people
Products
  • Family Takaful
Parent
Websitewww.ammetlifetakaful.com

AmMetLife was formed when MetLife agreed to purchase stakes in AmBank Group's life insurance and family takaful businesses for RM812 million.[2] The deal closed in April 2014.[3] MetLife has 50 percent plus one share in AmMetLife Insurance and 50 percent less one share in AmMetLife Takaful.[4] As part of the deal, AmMetLife has an exclusive 20-year agreement to sell insurance and takaful products through AmBank and AmIslamic Bank.[2]

As of March 2015, AmMetLife had an agency force of 1,100 and had the 10th highest market share among 14 life insurers in Malaysia.[1]

References
  1. "AmMetLife aims 5th position by 2019". The Sun. 2015-03-30. Retrieved 2015-08-23.
  2. Singh, Rupinder (2013-12-20). "MetLife to acquire AMMB's life insurance and family takaful arm for RM812m". The Sun. Archived from the original on 2015-04-19. Retrieved 2015-08-23.
  3. Annual Report 2015, AMMB Holdings Berhad, 2015-03-31, retrieved 2015-08-23
  4. Poo, Cheryl (2014-07-31). "AMMB banking on tie-ups with MetLife, Kurnia and MBf Cards to grow divisions". The Star. Retrieved 2015-08-23.


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