Great Easter - Durian Runtuh

Great Eastern Takaful Bhd expects the takaful industry's premium contribution will grow close to RM400 million following the introduction of i-BR1M (1Malaysia People's Group Takaful Insurance).

Chief Executive Officer Zafri Ab Halim said the closing date for the i-BR1M proposal submission is Dec 13.

"If this really kicks in, our market share will be able to grow up to 20 per cent from the 10 per cent currently," he told a media briefing on the company's 2013 performance.

In Budget 2014, the government introduced the i-BR1M, which will benefit 7.9 million BR1M household recipients, who would receive protection of up to RM30,000 in the event of death or permanent disability.

Zafri said the company, which celebrated its third anniversary yesterday, aims to be profitable by end-December and be among the top three players in the local takaful business.