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MNRB Holdings Berhad : MOHD SAHIMY MAN APPOINTED CEO OF MNRB RETAKAFUL BERHAD

10/24/2012 | 05:49am US/Eastern

NEWS RELEASE*IMMEDIATE RELEASE

MOHD SAHIMY MAN APPOINTED CEO OF MNRB RETAKAFUL BERHAD

Kuala Lumpur, 24 October 2012- MNRB Retakaful Berhad ("MRT") is pleased to announce the appointment of Encik Mohd Sahimy Man as the new Chief Executive Officer effective from 1 October 2012, taking over from Encik Ismail Mahbob who retired in May 2012.

Encik Mohd Sahimy Man brings to MRT more than 30 years of experience in the insurance industry, having held various positions in direct, reinsurance broking and reinsurance companies. His last posting was as the Senior Executive Officer of Malaysian Re Dubai Limited (MRDL), a sister company of MRT.

Encik Sharkawi Alis, Chairman of MRT said, "I am confident that with his vast knowledge and experience in the industry, Encik Sahimy will be able to steer MRT towards providing the best level of services".

MNRB Retakaful Berhad (MRT) is a general and family retakaful operator and it is a wholly owned subsidiary of MNRB Holdings Berhad ("MNRB").

MNRB Retakaful Berhad was incorporated in December 2006, as a wholly owned subsidiary of MNRB and was granted the operating license by Bank Negara Malaysia on August 1st 2007. The setting up of MRT is another effort by the MNRB Group to position itself as a significant player in the global takaful industry and to assist in promoting Malaysia as a leading center for the development of the Islamic finance industry.

MNRB is an investment holding company. Its other wholly owned subsidiaries are Malaysian Reinsurance Berhad (Malaysian Re), a general reinsurance company, Takaful Ikhlas Sdn. Bhd. (Takaful IKHLAS), an Islamic insurance provider and Malaysian Re (Dubai) Ltd. (MRDL), a company incorporated in Dubai, UAE, to underwrite the reinsurance business for Malaysian Re and to service Malaysian Re's business partners in the MENA regions.

Another subsidiary company is MMIP Services Sdn Bhd (MSSB), the manager of the Malaysian Motor Insurance Pool (MMIP), a pool established by the local insurance industry to provide insurance coverage for vehicle owners who have difficulty in obtaining motor insurance coverage. In addition, its associate companies are Motordata Research Consortium Sdn. Bhd. (MRC), a company that manages database for standard motor parts, prices and repairs, whilst Labuan Reinsurance (L) Ltd. (Labuan Re), an offshore reinsurance company incorporated in the Labuan International Offshore Financial Centre (IOFC), is an associate company of Malaysian Re. MNRB is listed on the Main Market of the Bursa Malaysia Securities Berhad and its major shareholder is Permodalan Nasional Berhad (PNB).

-End-

For further enquiries, kindly contact

Noorazimah Tahir, Vice President

Corporate Communications

at Tel No (DID): 03-2096 8120 or email to: azie@mnrb.com.my



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