IslamicFinance.de

Allianz Life Insurance Malaysia Bhd, which is aiming to have 10,000 agents by year-end from 8,300 now - remains interested in the takaful business although it is not in talks with any potential acquisition target now. Allianz Life CEO Rangam Bir said it sees that a large part of the market has the need for takaful solutions. Allianz Life is a subsidiary of Allianz Malaysia Bhd, which in turn is Allianz SE’s subsidiary. Allianz SE had failed in an attempt to buy a local takaful operator in 2011. Last year, a member of the board at Allianz SE said that it is not economically viable to enter into the domestic takaful market just yet.