Hong Leong MSIG Takaful

What Hong Leong MSIG Takaful does

Hong Leong MSIG Takaful Berhad (HLMT) is a Malaysian licensed takaful (Islamic insurance) operator and a subsidiary of Hong Leong Financial Group, providing Shariah-compliant family, health, savings, and group takaful solutions to Malaysian individuals, families, employers, and Tabung Haji depositors. Founded circa 2005–2006 and operating a head office in Kuala Lumpur with a claims/customer service office in Petaling Jaya, the company sustains a 20-year operating history and an employee base of 251–500.

Its product catalogue spans life protection (i-Heritage Care, i-Kasih Care, i-Salam, i-Tulus, Tenang, i-Flexi Protect 2, i-AcciPlus), health and medical coverage (Medi-Shifa Rider, i-Critical Care, i-Hospital Care, FiT CI), savings and investment plans (i-Jauhar, i-Care Hasanah Privilege, Premier Growth, i-EduSave Genius, Alpha Saver), and group/business solutions (Group Term Takaful, Group Credit Takaful, Group Savings Takaful, Mortgage Reducing Term Takaful). Product architecture layers multiple optional riders (accident, critical illness, disability, Hajj/Umrah) on top of base plans, and is supplemented by value-added Islamic services including Badal Haji (Hajj by Proxy), Waqf, and Qurban.

The business operates a multi-channel distribution model comprising a nationwide licensed Takaful agent force, a self-service online portal (HLMT Serv) for mass-market products, an enterprise sales motion for group takaful, and a strategic Tabung Haji partnership that distributes TH Khairat (RM12,000 coverage for RM28/year) via the THiJARI platform. Operational technology centres on the HLMT360 customer portal, e-Channel Portal for agents, and a 5,516-clinic/142-hospital MediExpress cashless-admission network. Revenue is generated primarily through recurring family takaful contributions and subscription fees, with pricing ranging from RM28/year entry-level plans to multi-year contracts with basic sum covered from RM500,000 and intermediate premium tiers beginning at RM600–RM1,200 per year.

Name

Hong Leong MSIG Takaful

Legal name

Hong Leong MSIG Takaful Berhad

Website

https://hlmtakaful.com.my

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

Hong Leong MSIG Takaful Berhad is a Malaysian Shariah-compliant takaful (Islamic insurance) operator under Hong Leong Financial Group, delivering family, health, savings, and group takaful products to Malaysian individuals, families, employers, and Tabung Haji depositors via agent, digital, and partnership channels.

Ownership category

akta.pro rank

Product category

Family and Group Takaful (Islamic Insurance)

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

Keywords

• Family takaful plans
• Group takaful solutions
• Shariah-compliant insurance
• Medical takaful coverage
• Savings and investment takaful

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Family Takaful Contributions: Recurring takaful contributions from individual and group/family takaful certificates covering life protection, health/medical, savings and investment products. Revenue generated through periodic contributions (annual/scheduled) from participants.
2. TH Khairat Annual Subscription: Annual subscription fee of RM28 for TH Khairat coverage of RM12,000 against death or total permanent disability, distributed through Tabung Haji partnership.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Hong Leong MSIG Takaful Berhad is a licensed Malaysian takaful (Islamic insurance) operator providing family takaful and group takaful solutions. Its personal line includes life protection, health and medical coverage, and savings/investment plans, while its business line delivers group term, group credit, group savings, and mortgage-reducing-term takaful for employers and organisations. Products are distributed via a Takaful agent force, the HLMT Serv online self-service portal, direct corporate engagement, and a strategic partnership with Tabung Haji for the TH Khairat product.

Product overview

Hong Leong MSIG Takaful offers a comprehensive family and group takaful (Islamic insurance) portfolio distributed through agent force, direct online channels (HLMT Serv portal), and business partnerships. Personal products span life protection (i-Heritage Care, i-Kasih Care, i-Salam, i-Tulus, Tenang, i-Flexi Protect 2), health and medical coverage (Medi-Shifa Rider, i-Critical Care, i-Hospital Care, FiT CI), and savings & investment plans (i-Jauhar, i-Care Hasanah Privilege, Premier Growth, i-EduSave Genius, Alpha Saver). The TH Khairat product is distributed exclusively through Tabung Haji's THiJARI platform. Business solutions include Group Term Takaful, Group Credit Takaful, Group Savings Takaful, and Mortgage Reducing Term Takaful. The product architecture combines base plans with optional riders (accident, critical illness, disability, Hajj/Umrah coverage) allowing customization. The company also provides value-added services including Hajj by Proxy (Badal Haji), Waqf Service, and Qurban Service.

Differentiator

Problem solved

Functional benefit

Brands

• HLM Takaful: Primary brand name for Hong Leong MSIG Takaful Berhad, used for marketing takaful products and services.

Products and services

• HLM Takaful i-Heritage Care Hibah (gift) protection plan offering death benefit that increases by 5% every 5 years up to 30%, with optional riders for disability, critical illness, accident, Hajj and Umrah coverage, and contribution relief. Entry age 30 days to 70 years, coverage up to age 90, contribution terms of 10, 15, 20 years or full term, basic sum covered from RM500,000.
• HLM Takaful i-Kasih Care
• HLM Takaful i-Tulus Ordinary takaful plan combining protection and savings with guaranteed regular payouts, loyalty bonus at maturity, and an optional Hajj and Umrah rider. Entry age 30 days to 65 years, contribution from RM1,200/year, contribution term of 15, 21 or 27 years.
• HLM Takaful i-Salam
• HLM Takaful Tenang and HLM Takaful Tenang 75
• HLM Takaful i-Flexi Protect 2
• HLM Takaful i-AcciPlus
• HLM Takaful i-Critical Care
• HLM Takaful i-Hospital Care
• HLM Takaful FiT CI
• HLM Takaful i-Jauhar
• HLM Takaful i-Care Hasanah Privilege
• HLM Takaful Premier Growth
• HLM Takaful i-EduSave Genius
• HLM Takaful Alpha Saver
• TH Khairat Voluntary takaful plan in collaboration with Tabung Haji providing RM12,000 coverage against death or total permanent disability for RM28 annually, with no medical underwriting required. Open to TH depositors aged 30 days to 65 years.
• Group Term Takaful
• Group Credit Takaful
• Group Savings Takaful
• Mortgage Reducing Term Takaful

Quantifiable outcome

• TH Khairat provides RM12,000 coverage for RM28/year to Tabung Haji depositors
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• MediExpresscoreTechnology or Integration · 13 January 2025MediExpress appointed as the new Third-Party Administrator (TPA) for all cashless admissions effective 13 January 2025. Replaces previous TPA to provide more efficient service for hospital admission guarantee letters and claims processing.
• Tabung Haji (TH)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Strategic partnership where Tabung Haji distributes TH Khairat takaful product to its depositors through the THiJARI platform. Hong Leong MSIG Takaful and Syarikat Takaful Malaysia are appointed as the two Takaful Operators. TH Khairat provides RM12,000 coverage for death/TPD at RM28/year with automatic renewal deducted from TH savings.
• Syarikat Takaful Malaysia Keluarga Berhad (STMKB)minorChannel Partner/ Reseller/ Distributor · 1 January 2023Co-appointed with Hong Leong MSIG Takaful as Takaful Operators for TH Khairat product by Tabung Haji. Both operators offer identical benefits and subscription rates for the product.
• Europ Assistance (EA)coreTechnology or IntegrationEmergency evacuation and repatriation services provider for international medical assistance, complementing the medical coverage products and providing global support to policyholders.
• Hong Leong Financial GroupcoreOthersHong Leong MSIG Takaful is a key component of Hong Leong Financial Group's Islamic financial services. Benefits from group synergies, shared brand equity, and cross-selling opportunities with other group entities including Hong Leong Bank, Hong Leong Assurance, and Hong Leong Islamic Bank.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Syarikat Takaful Malaysia Keluarga Berhad (STMKB): STMKB is a leading Malaysian family takaful operator and is co-appointed with HLMT as the Takaful Operator for Tabung Haji's TH Khairat product, directly competing on identical pricing and benefits. It offers a parallel product portfolio in life, health, medical, and savings takaful to Malaysian consumers.
• Zurich Takaful Malaysia: Zurich Takaful Malaysia is a multinational-owned takaful operator providing family takaful products including life protection, medical, and savings, with comparable distribution via agency and digital channels, and competes with HLMT for similar Malaysian Muslim consumer segments.
• Takaful Malaysia Operators (Syarikat Takaful Malaysia): The general/standalone takaful arm of Takaful Malaysia group offers a comparable product set in family and group takaful, including credit and investment-linked plans, and is a meaningful direct competitor in the Malaysian takaful market.
• Etiqa Family Takaful Berhad: Etiqa is one of Malaysia's largest family takaful operators, offering a comparable product suite of life, health, savings, and group takaful solutions to Malaysian Muslim consumers through similar multi-channel distribution including agency, bancassurance, and digital channels. It is the most direct competitor to HLMT in scale and product breadth.
• Prudential BSN Takaful Berhad: Prudential BSN Takaful is a major Malaysian takaful joint venture between Prudential plc and Bank Simpanan Nasional, offering family takaful products with significant bancassurance scale. It is one of the top three takaful operators in Malaysia and competes directly with HLMT in life, health, and savings takaful.
• FWD Takaful Malaysia: FWD Takaful is a digitally-led family takaful operator that has rapidly scaled in Malaysia through direct-to-consumer digital channels and a simplified product suite, posing competitive pressure on HLMT's traditional agency model.

Broad incumbents

• Great Eastern Life Assurance (Malaysia) Berhad: Great Eastern is one of Malaysia's largest established life insurers, offering conventional and increasingly takaful-family products. While not takaful-exclusive, it competes for the same Malaysian life and health protection wallet and is part of a much larger regional insurance group.
• Tokio Marine Life Insurance Malaysia Berhad: Tokio Marine Life Malaysia is an established multi-line life insurer operating through agency and bancassurance distribution, serving overlapping Malaysian consumer and group segments with life, health, and investment-linked products.
• Allianz Life Insurance Malaysia Berhad: Allianz Life Malaysia is a major multi-line insurer with a broad product portfolio including life, health, and investment-linked plans, competing for the same Malaysian household protection and savings budget as HLMT through agency and bancassurance channels.

Others

• Hong Leong Assurance Berhad: Hong Leong Assurance is the sister company of Hong Leong MSIG Takaful within Hong Leong Financial Group, offering conventional life insurance products. While not a takaful competitor, it is directly comparable in customer base, parent backing, and product set (life protection, health, savings) and provides the most natural cross-sell reference for HLMT.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@hongleongmsigtakaful6027?si=J6gHtlIOD58xRP4i
• Facebookfacebook.com/HongLeong.MSIG.Takaful
• LinkedInlinkedin.com/company/hong-leong-msig-takaful
• Instagraminstagram.com/hlmtakaful
• Xx.com/hlmtakaful

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hong Leong MSIG Takaful