In Brunei Darussalam, companies and operators that offer Takaful and insurance services are regulated by Autoriti Monetari Brunei Darussalam (AMBD).
Policies or coverage are available directly from the insurance companies or takaful operators. Other sources include authorised agents; banks that have a bancassurance (bancaTakaful) agreement with insurance companies or takaful operators; and brokers registered under AMBD.
AMBD Financial Institutions Directory provides a list of registered insurance companies, takaful operators, general insurance or takaful agents and insurance brokers in the country. The directory is available on the AMBD website and app.
In 2013, the Brunei Insurance and Takaful Association (BITA) was inaugurated in a soft launch, uniting all the registered conventional life and non-life insurers as well as Takaful operators in the country.
The trade body promotes a level playing field, harmony and cooperation among members and industry players.
BITA comprises of AIA, Great Eastern, Audley Insurance, National Insurance Company Berhad, Insurans Islam TAIB General and Family Takaful, Standard Insurance Sdn Bhd, Tokio Marine Insurance Group, TBA and TBK. In addition to supporting the Brunei Darussalam National Road Safety Council, BITA is also a member of the ASEAN Insurance Council and the East Asian Insurance Council.
AIA Brunei is the largest commercial life insurance company in Brunei, serving generations since it was established in 1957.
The company has grown to be a trusted household name over the decades, helping people achieve financial security with innovative solutions at different stages of life.
AIA Brunei provides Financial Health Check as part of its services. The process includes identifying the customer’s goals, establishing their priorities and assessing the options available to achieve their goals.
The Financial Health Check provides a sound foundation for AIA Brunei’s customers to build a secure financial future.
Audley Insurance Company Sdn Bhd (AIC) is a subsidiary of Brunei Investment Agency (BIA). It was established on October 30, 1996 with the primary objective of acting as a “Captive Insurer” for all BIA-owned assets and interests.
AIC offers its services to all assets and interests owned and partly owned by His Majesty’s Government and others which are of strategic importance to Brunei.
The company also services insurance needs of other major corporations and individuals in Brunei. AIC’s mission is to ensure all important and strategic assets of BIA and Brunei government are properly and adequately insured at the best market terms with a high-value security.
Etiqa Insurance Berhad, Brunei Branch (previously known as Malaysian National Insurance Berhad) is a fully owned subsidiary of the Maybank Group. The company offers general insurance designed to provide coverage for businesses, individuals, properties and assets.
Products offered by Etiqa Brunei include fire insurance, burglary insurance, motor insurance and all risks insurance for industries such as the construction sector, which entails a significant risk factor due to the use of heavy machinery.
Founded in 1908, Great Eastern is the oldest and largest life insurance group in Singapore and Malaysia. Great Eastern is one of the leading insurance companies in Asia with over SGD85 billion in assets, around four million policyholders and three successful distribution channels — a tied agency force, bancassurance and a financial advisory firm named Great Eastern Financial Advisers.
Aside from operating in Indonesia and Brunei, the group also has a presence in China as well as a representative office in Myanmar. Great Eastern was named the Life Insurance Company of the Year at the Asia Insurance Industry Awards in 2011 and 2013 by Asia Insurance Review. Having been in Brunei since 1975, Great Eastern Life is the only foreign life company that has acquired its very own office building, a statement of its commitment in the country.
Backed by an integrated health and wellness Live Great programme, which provides clients access to benefits such as wellness tools, mobile apps, health tips, workshops and events as well as exclusive privileges, Great Eastern goes beyond the traditional role of an insurance company when it comes to helping customers live healthier, better and longer.
Established in 1993, Insurans Islam TAIB Holdings Sdn Bhd (IITH) is a subsidiary company of Perbadanan Tabung Amanah Islam Brunei (TAIB). IITH is the first takaful company in the country and has bancatakaful partnerships with leading banks and financial institutions in Brunei.
IITH has two subsidiary companies under the Takaful Order 2008: Insurans Islam TAIB General Takaful Sendirian Berhad (IITGT) and Insurans Islam TAIB Family Takaful Sendirian Berhad (IITFT).
The two subsidiaries offer a wide range of Takaful products and services. IITGT protects the insured’s assets and values. IITFT provides financial protection for families if the insured or their significant other becomes ill and is unable to work.
Information Technology (IT) has always been at the forefront of IITH services. The company aspires to provide professional and efficient Syariah-compliant Takaful services through the latest technology.
For corporates, IITGT and IITFT have introduced various takaful products with customisable coverages and benefits to suit their needs. Their products cater to oil-and gas-related industries, fishery, aviation, telecommunication, marine hull and marine cargo. Clients of IITGT and IITFT range from government agencies to private companies including micro, small and medium enterprises.
With its extensive market experience and global support from highly rated reinsurance companies, retakaful and actuarial firms, IITH and its subsidiaries remain steadfast and maintain their stronghold in Brunei’s takaful and insurance industry.
National Insurance Company Berhad, incorporated in 1969, is the market leader in general insurance in Brunei.
In January 1998, Allianz Global Corporate & Specialty AG, MSIG Holdings (Asia) Pte Ltd and Baiduri Holdings Berhad acquired partial ownership of the company, a mark of confidence in National Insurance and the Brunei economy. The partnership paves a channel for the transfer of international insurance expertise to Brunei, enabling the company to explore new opportunities in the sector.
National Insurance cemented its status as the country’s premier general insurance firm when it attained ISO 9002 certification on April 15, 1996.
On May 22, 2017, National Insurance was re-certified with the new ISO 9001:2015 standard, becoming the only insurance company in Brunei and among the only few in the region to have earned this prestigious certification.
The company is also active in the Brunei business community and is a member of the Brunei Insurance and Takaful Association, the Brunei Darussalam International Chamber of Commerce and Industry, and the East Asia Insurance Congress. National Insurance celebrated its 50th anniversary in 2019.
Standard Insurance Sdn Bhd is an approved insurer offering risk solutions in Brunei since 1995. The company has been a member of the General Insurance Association (GIA) of Brunei Insurance and Takaful Association (BITA) since BITA’s inception. The company has three branches and two counters, all located in different areas in Brunei with its head office in Kampong Kiarong.
Standard Insurance offers a wide range of quality risk solutions for individual and commercial customers, precisely constructed to cater to their customers’ needs throughout the various aspects of their lives or businesses.
Takaful Brunei has been a household name as the leading takaful/insurance provider in Brunei Darussalam. With over 27 years of experience in product development, service innovation and customer care, Takaful Brunei is committed to building a synergised economic environment between their stakeholders while proudly uplifting their Bruneian heritage and Islamic values to its highest standard.
2020 marked one of Takaful Brunei’s most significant milestones and the beginning of great opportunities. The Takaful Brunei Mobile was officially launched and saw encouraging user registrations that grew continuously. Up to 12 takaful protection products are offered, ranging from the motor, home protection, medical, savings to more leisure products such as Personal Accident for Active Life and All Risk for Bicycle.
Participating in any of the available Takaful Brunei products has never been more seamless, with instant quotations, online payments and a userfriendly Takaful Certificate Management System – which includes guided claims notification.
The mobile app demonstrates Takaful Brunei’s commitment and support of Brunei Vision 2035 and the Digital Economy Masterplan. Takaful Brunei was also awarded the Digital Insurance Initiative of the Year by the Insurance Asia Awards 2020 and Best Takaful in Brunei by the International Finance Awards 2020. Takaful Brunei now joins 130 companies from 24 countries which have been recognised by Insurance Asia as one of the most acclaimed insurance companies in the region. The company also officially launched Takaful Brunei Corporate – exclusively offered to business owners and corporate entities at their new Corporate Lounge located at the TBA Head Office in Beribi.
With Takaful Brunei Corporate, clients are provided with tailored corporate products, as well as protection consultation for businesses and projects.
The launching represents Takaful Brunei’s utmost dedication to serve their valued corporate clients and the business community in Brunei. Takaful Brunei Corporate advises customers of any gaps in their Takaful and/or insurance protection programmes, while stressing the importance of protection for both physical property assets and human assets.
Takaful Brunei Corporate provides companies of all sizes with Physical Asset & Operational Protection, Human Asset Protection and Professional & Legal Liability Protection. Under the care of an experienced team, clients will have Takaful Relationship Consultants on hand catering to their needs.
With the team’s expertise, Takaful Brunei Corporate aims to provide extensive protection coverages at the highest capacity for nation building industries, supporting industrialisation and economic growth while holding strong to heritage and values. The trust and confidence given to Takaful Brunei drive their commitment to serve and secure the future of Brunei.
Tokio Marine Insurance Singapore Ltd (Brunei branch) is a Brunei-registered life insurance company regulated by the AMBD. The company offers life insurance solutions covering everything from retirement, term, investment-linked plans and savings to estate planning, mortgage planning and personal accident, as well as general insurance protection for private motor, travel and sports, home, and personal accident and health.
Placing customer trust and quality of service at the forefront of its activities, Tokio Marine strives to conduct itself with the utmost integrity and ethics, and do the best by its employees, customers and society.
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