MAA Group Berhad (“MAAG”) is a Malaysian investment holding company listed on the Main Board of Bursa Malaysia.
MAAG has a long history, commencing operations as Malaysian American Assurance Company Berhad (“MAAB”) in 1968, which was principally engaged in the General and Life insurance businesses. In 1985, MAAB changed its name to Malaysian Assurance Alliance Berhad (“MAA Assurance”).
MAAG (formerly known as MAA Holdings Berhad) was incorporated on 4 November 1998 under the Companies Act, 1965. It became the holding company of MAA Assurance and other non-insurance subsidiaries through a corporate restructuring exercise when the listing status of MAA Assurance was transferred to MAAG in 1999.
In 2011, MAA Holdings Berhad became MAAG with the sale of MAA Assurance to Zurich Insurance Company Limited.
For over 4 decades, through its subsidiaries and associate companies, MAAG was principally engaged in Conventional Life and General Insurance, Unit Trust, Family Takaful and General Takaful businesses, Asset Management, Trust Fund, Property Management and Services, Information Technology and Security Services.
In June 2016, the Group disposed of its 75% stake in MAA Takaful Berhad (now known as Zurich Takaful Malaysia Berhad), a subsidiary engaged in takaful business to Zurich Insurance. With this sale, the Group exited the local financial services sector regulated by Bank Negara Malaysia.
Current business activities of MAAG Group include; Investment Holdings, Education Services provided by Kasturi Academia Sdn Bhd (formerly known as Pusat Tuisyen Kasturi Sdn Bhd), a general insurance business via MAA General Assurance Philippines, Inc. and a retail mortgage lending business in Australia via Columbus Capital Pty Limited, both held through MAA International Group Ltd (formerly known as MAA International Assurance Ltd) the offshore investment arm of the Group.
Notwithstanding the aforesaid business portfolio, the Group is currently engaged in an extensive search to further diversify its income streams in its quest to replace its core business following the sale of MAA Assurance and MAA Takaful.