Kuala Lumpur, 1 September 2020 – MNRB Holdings Berhad (MNRB) today is pleased to announce that Zaharudin Daud has been appointed as the Group Chief Executive Officer (GCEO) Designate with immediate effect as of 1 September 2020.
Its current President & GCEO, Mohd Din Merican will retire effective 23 November 2020. His retirement comes after more than eight (8) years spearheading the MNRB Group.
Mohd Din was appointed as President & GCEO of MNRB on 9 January 2012. He then went on to carry a dual leadership role when he was also appointed as President & Chief Executive Officer (CEO) of Takaful Ikhlas Family Berhad (Takaful IKHLAS Family) on 30 November 2018. Mohd Din has also resigned from his role as President & CEO of Takaful IKHLAS Family effective today, 1 September 2020.
During his term with the MNRB Group, Mohd Din has played a key role in the Group’s business transformation efforts. Mohd Din had successfully led Takaful IKHLAS’ license split exercise from a licensed composite takaful operator into (2) two separate entities, namely Takaful IKHLAS Family and Takaful Ikhlas General Berhad (Takaful IKHLAS General). He also championed the Group’s digitisation and digital transformation efforts which included enhancement of Takaful IKHLAS core systems and digital platforms as well as the establishment of MNRB Group’s Innovation Lab to provide innovative digital solutions to improve customer experience. During his tenure, MNRB’s asset size has grown by 80.7% from RM5.2 billion to RM9.4 billion.
The appointment of Zaharudin as the GCEO Designate has been purposely planned by the Board to make for a smooth and successful leadership transition. During the interim, Zaharudin will work closely with Mohd Din and succeed as President & GCEO on 23 November 2020.
Zaharudin brings with him over thirty (30) years of experience in the general insurance industry. Before joining MNRB, Zaharudin was the CEO of Etiqa General Takaful Berhad from January 2018. Prior to that, he was the CEO of Etiqa Insurance Berhad from January 2014 until January 2018. In 2010, Zaharudin assumed the role of Principal Officer/Head, Singapore Operation, Etiqa Insurance Berhad, Singapore for four (4) years. He was also the Management Committee members of the Persatuan Insuran Am Malaysia and the Life Insurance Association of Malaysia until 2018 and was a Board member of ISM until August 2020.
On another matter, the Board is also pleased to announce the appointment of Nor Azman Zainal as the President & CEO of Takaful IKHLAS Family effective 1 September 2020.
Nor Azman was the CEO of Prudential BSN Takaful from August 2017. Previously, he was the Director / Chief Marketing Officer of Prudential BSN Takaful from June 2012 till August 2017. Prior to that, he was the Assistant Vice President of Product marketing at AIA Alliance Takaful. Nor Azman has more than twenty three (23) years of experience in insurance / takaful industry.
Commenting on MNRB Group’s leadership transition, Chairman of MNRB, Datuk Johar Che Mat said, “The Board is confident that both Zaharudin and Nor Azman’s industry insights and experience will prove invaluable to MNRB Group as they take over the roles to steer MNRB’s growth to the next level. We expect a seamless transition, given their knowledge of the industry as well as experiences which would definitely contribute to the Group’s growth moving forward”.
Echoing the sentiment, incumbent Mohd Din added: “Zaharudin and Nor Azman’s extensive industry experience will indeed benefit the Group as a whole. They have my full support in going through the transition.”