Malene Insurance Brokers has rebranded as Howden Takaful Brokers, building on the international brokerage’s investment in Malene in February 2019.
Howden Takaful Brokers specialises in Takaful, or insurance compliant with Islamic law. The name change, Howden said, reflects its commitment to provide products and services for Muslim customers and grow its footprint in Asia.
Malene’s team of 30 broking specialists will be retained, working alongside Howden’s other broking teams and offering clients seamless access to specialty, reinsurance and retail lines.
“Our clients benefit from a diverse range of insurance solutions across a wide spectrum of sectors and the expertise, data and analytics capability and product knowledge of Howden’s global offering as we continue to develop bespoke Takaful solutions across Howden’s business areas,” said Ismam Shahrin Ismail, CEO of Howden Takaful Brokers. “In Howden, we have found a place that shares our values of client-centricity and innovation, which has allowed us to grow. We are now the largest power broker in Malaysia, and we will continue to focus on developing the Takaful solutions for which we are known in the Malaysian market.”
Howden Takaful Brokers said its established relationships with key Takaful operators in Malaysia will result in products and services that are expertly adapted to clients’ cultural and operational needs. According to a recent study by Refinitiv, Malaysia is the top Islamic finance market in the world, followed by neighbouring Indonesia.
“Since Malene joined the group in 2019, we have enjoyed working with a talented team of individuals who share our commitment to clients, colleagues and specialist expertise,” said Eddy PK Hon, country manager of Howden Malaysia. “Howden Takaful Brokers provides a solid platform for growth as we look to expand the breadth and depth of our client offering alongside our specialist insurance, employee benefits and personal lines portfolio, via traditional means and our online trading platform, instaPOL.my.”
