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Borneo Bulletin Yearbook 2019
In Brunei Darussalam, companies and operators
offering takaful and insurance services are licensed
by AMBD, the country’s central bank.
Policies or coverage are available via directly from the
insurance company or takaful operator; from takaful
agents that have been authorised to represent
insurance companies or takaful operators; from
banks that have a bancassurance (bancaTakaful)
agreement with insurance companies or takaful
operators; or from brokers that are registered under
AMBD.
AMBD provides a list of registered insurance
companies and takaful operators, registered general
insurance or takaful agents and insurance brokers
in the country through its Financial Institutions
Directory. The directory is available at the AMBD
website and app.
BITA
The Brunei Insurance and Takaful Association (BITA)
was established on November 14, 2013 uniting all
registered conventional life and non-life insurers
and takaful operators in Brunei.
The association aims to enhance the insurance
business by delivering effective products based on
the country’s specific needs, supporting the public
and monitoring emerging issues and regulatory
changes in the country and around the world.
BITA and its advocacy partners respond proactively
to help mold the schemes and policies affecting
the captive industry. Its member companies offer
schemes and policies under four categories: General,
Life, Motor and Others.
INSURANCE SERVICES