|Etiqa Insurance Now in Singapore, September 2009|
Another significant milestone for Etiqa, the largest Malaysian composite insurer is now present in Singapore offering general insurance. Mayban General Assurance Berhad has officially transferred its businesses to Etiqa Insurance Berhad. Etiqa Insurance Berhad remains part of the Maybank Group.
The company's general insurance business started in Singapore back in 1961 under the name of United General Insurance Company Ltd. Subsequently, the name was changed to UMBC Insurance in 1997. Followed by the partnership in 2001 between Maybank and Fortis International NV, the general insurance business in Singapore was then subsequently changed to Mayban General Assurance Berhad.
Following the acquisition of Malaysia's largest composite insurer - Malaysia National Insurance (MNI) and Malaysia's largest Takaful operator - Takaful Nasional, together with 3 different companies under the Mayban Fortis Holdings (Mayban Life Assurance, Mayban General Assurance and Mayban Takaful), Etiqa was introduced in 2007 and has since grown by leaps and bounds.