Saturday, March 9, 2013

TMR: Etiqa insurance/takaful boss quits

By Azli Jamil

Etiqa Insurance and Takaful chief executive officer (CEO) Hans de Cuyper (picture below) has left the company in a surprise development.

According to a source who declined to be named, de Cuyper who assumed the post in 2011, has not been the CEO for some time but did not specify when and why.

His position is now filled by acting CEO Kamaluddin Ahmad who joined the company in June 2012. Kamaluddin is also the CEO of Etiqa Insurance Bhd and head of general insurance.

Etiqa Takaful Bhd is headed by Ahmad Rizlan Azman who joined the company in November 2012 as CEO and head of life/family business and employee benefits.

Etiqa’s website shows the management structure of the company without de Cuyper’s name, while its director’s page shows that de Cuyper is still a director with Maybank Ageas Holdings Bhd and Etiqa Insurance.

A visit to the company’s social media site shows that de Cuyper’s last appearance for the company was a Chinese New Year celebration posting uploaded on Feb 22, 2013.

Etiqa is keeping mum about the news and has not made any announcement on de Cuyper’s departure.

It is unknown if his departure would affect Etiqa’s aim to be the insurance and takaful leader in written premiums by 2015, as reported by The Malaysian Reserve in October 2012.

Etiqa is 69%-owned by Etiqa International Holdings Sdn Bhd and 31% by Belgium and Netherlands-based Ageas Insurance International.