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motor insurances. Furthermore, MAA Group Berhad offers a complete variety of Shariah compliant life and general insurance products through its subsidiary, MAA Takaful Berhad, which is one of the highest-profile non-bank financial institutions in Malaysia. Currently, in terms of annualised new business premiums for life insurance business and total gross premiums for general insurance business, MAA Group Berhad is one of the country’s foremost insurance companies. MAA Group Berhad net profit as at 2011 was RM71.758 millions. (MAA Group Berhad, 2012)

Manulife Holdings Berhad

Manulife Malaysia was initially incorporated in 1963 as a division of Bahamas-based British American Insurance Co. It then became a public limited company in 1981 and transformed its name to British American (Malaysia) Insurance Berhad. In 1994, the company was renamed John Hancock Life Insurance (Berhad) to replicate the relationship with John Hancock Mutual Life Insurance Company in USA. In 2004, following the large-scale international merger between US based John Hancock Financial Services and Canadian-based Manulife Financial Corporation, the Company changed its name to Manulife Insurance (Malaysia) Berhad and effective 1st October 2008, it became Manulife Holdings Berhad. It principally engaged in investment holding and the underwriting of life insurance business. Manulife Malaysia is a progressive company, not only in the products and services they offered but also in the way they do business. Subsidiaries companies under Manulife Holdings Berhad are Manulife Insurance Berhad and Manulife Asset Management Services Berhad (formerly known as Manulife Unit Trusts Berhad). Manulife Holdings Berhad is listed on the Bursa Malaysia. Share capital of the company as at 2011 is RM101,185 million. (Manulife, 2012)

MNRB Holdings Berhad

In early 1965, in order to restrict the ever rising steady flow of reinsurance premium overseas, the Malaysian Government envisioned the idea of structuring a national reinsurance company. A viability study on the formation of such a company was performed in 1971 and on 30 December 1972, Malaysian National Reinsurance Berhad was established under the Companies Act, 1965. It started to function on 19 February 1973. As part of the reformation implementation of MNRB Group, effective on 1 April 2005, the reinsurance licence, reinsurance business and reinsurance assets, up to a net amount of RM400 million of Malaysian National Reinsurance Berhad were transferred to Malaysian Reinsurance Berhad (Malaysian Re). Following to the restructuring, Malaysian National Reinsurance Berhad became an investment holding company and was renamed as MNRB Holdings Berhad. MNRB was listed on Bursa Malaysia Securities Berhad on 20 November 1996, with authorised Capital of RM500 million, split into 500 million ordinary shares of RM 1.00 each. The Company's Paid-Up Capital has rised progressively to RM213,069,500 as at 31 March 2010 compared to initial Paid-Up Capital in 1973 which was RM2,000,002. (MNRB Holdings Berhad, 2012)