ANNUAL REPORT 2015 STANDING STRONG AS A TRUSTED PARTNER STANDING STRONG AS A TRUSTED PARTNER Amidst the challenges of an evolving global insurance landscape, the MNRB Group continues to stand strong as a trusted partner to financial industries. Via the Group’s reinsurance, takaful and retakaful businesses in Malaysia, and abroad, we are steadfastly protecting client investments and enabling economic growth. Being a knowledge company and a thought leader, we have devoted substantial resources to understanding current and future risks by considering every number, statistic, segment and variable of every reinsurance, takaful and retakaful activity that we undertake. As we venture forth into a highly challenging market environment, we will continue to leverage on astute business strategies and enduring partnerships to deliver a robust performance. By balancing out our good economic performance with responsible corporate practices, we are confident of delivering resilient and sustainable growth. 066 INSIDE 66 MALAYSIAN REINSURANCE BERHAD 67 Corporate Profile 002 68 Corporate Information THIS 2 MNRB HOLDINGS 69 Directors’ Profile ANNUAL REPORT BERHAD 74 Senior Management Team 3 Corporate Profile 75 Senior Management Team’s Profile 4 Corporate Milestones 77 Corporate Activities and Services 5 Notice of 42nd Annual General Meeting 79 Malaysian Re’s Portfolio of Business 8 Statement Accompanying Notice of Annual General Meeting 9 Corporate Information 10 Group Structure FOR MORE INFORMATION 11 Chairman’s Statement Please scan the QR Code to 19 Board of Directors redirect to the official website: 22 Directors’ Profile 080 www.mnrb.com.my 26 Senior Management Team 80 TAKAFUL IKHLAS BERHAD 28 Senior Management Team’s Profile 81 Corporate Profile 30 Five-Year Financial Highlights 82 Corporate Information 32 Financial Calendar 2015 83 Directors’ Profile 33 MNRB’s Growth 88 Profile of Shariah Committee Members 34 Investors’ Information 90 Senior Management Team 35 Sustainability Report 104 91 Senior Management Team’s Profile 46 Event Highlights 104 MALAYSIAN RE 93 Takaful IKHLAS’ Portfolio of Business (DUBAI) LTD. 48 Statement on Corporate Governance 105 Corporate Profile 59 Audit Committee Report 106 Corporate Information 61 Statement on Risk Management and 107 Directors’ Profile Internal Control 109 Senior Executive Officer’s Profile 64 Statement of Directors’ Responsibility in Relation to the Financial Statements 65 Additional Compliance Information 094 111 Financial Statements 94 MNRB RETAKAFUL 237 Analysis of Shareholdings BERHAD 240 List of Properties 95 Corporate Profile • Proxy Form 96 Corporate Information 97 Directors’ Profile 110 110 MMIP SERVICES 100 Profile of Shariah Committee Members SDN. BHD. 102 President & CEO’s Profile 110 Corporate Profile 103 MRT’s Portfolio of Business 110 Corporate Information A RESILIENT PARTNER By remaining resilient amidst industry challenges and consistently delivering on our promises to our partners, MNRB continues to explore new areas of growth opportunity. The strong foundations we have laid and long-term partnerships we have fostered continue to hold us in good stead. As we build upon these, we are extending our reach and opening up new avenues of opportunity. //MNRB HOLDINGS BERHAD //ANNUAL REPORT 2015 CORPORATE MNRB HOLDINGS BERHAD PROFILE Authorised Capital of RM500 million Paid-up Capital of RM213 million MALAysIAN NATIONAL REINsuRANCE BERHAD, the country’s national reinsurer was set up in 1972 TO LIMIT THE OUTFLOW OF REINsuRANCE PREMIUMS OVERSEAS. The Company commenced operations on 9 February 1973. In 2005, as a result of a restructuring exercise as a takaful operator. Its reinsurance subsidiary within the MNRB Group, the Company’s stands tall among the top reinsurers in the reinsurance license, business and assets region, writing lines of general businesses were transferred to its subsidiary company, locally and abroad. In Malaysia, its takaful Malaysian Reinsurance Berhad. Pursuant to the operator vies with the leaders in the provision restructuring, Malaysian National Reinsurance of Islamic financial protection services based Berhad became an investment holding company on the takaful system. and changed its name to MNRB Holdings Berhad (MNRB). Today, MNRB is listed on the CAPITAL STRUCTURE Malaysian Bourse (Bursa Malaysia). Its market capitalisation stood at RM803.26 million as at The Company has an Authorised Capital 31 July 2015. of RM500 million, divided into 500 million ordinary shares of RM1.00 each and a The MNRB Group comprises leading wholesale Paid-up Capital of RM213 million, divided into providers of reinsurance and retakaful as well 213 million ordinary shares of RM1.00 each. 3 MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD//MNRB HOLDINGS∙ MNRB BERHADHOLDINGS BERHAD //ANNUAL REPORT 2015 ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRBMNRB HOLDINGS HOLDINGS BERHAD BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLD- INGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD ∙ MNRB HOLDINGS BERHAD