Hong Leong MSIG Takaful CEO Quits

Wan Mohd Fadzlullah Wan Abdullah, CEO of Hong Leong MSIG Takaful (HLMT), a joint venture between Hong Leong Financial Group Malaysia and Japan’s Mitsui Sumitomo Insurance Co has reportedly resigned from the Islamic insurer.

HLMT, which is a composite takaful operator offering both family and general takaful products, has confirmed to Malaysia’s SunBiz that Wan Mohd Fadzlullah submitted his resignation papers last Friday and is currently on garden leave.

The CEO served the company as its top executive since September 2013 allegedly due to differing opinions with the insurer’s management.

He was previously executive vice-president of Takaful Ikhlas. No interim CEO has been appointed yet to stand in for Wan Mohd Fadzlullah.

According to reports, Fauzi’s exit could have something to do with a dispute over HLMT’s future strategic directions with HLA Holdings, which is part of Hong Leong Financial Group Malaysia and owns a 65% stake in HLMT. – BusinessNewsAsia.com