Our History

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 190 years. As a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS), we are governed by the Insurance Act.

Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting more than 550,000 homes since 2009.

In 2014, Etiqa added a comprehensive suite of life insurance solutions, including protection, savings and retirement, and subsequently legacy planning and universal life solutions to our portfolio to better serve our growing customer base and the needs of the modern day consumer.

Our relentless dedication to being a digital and innovative insurer has resulted in new solutions, such as pioneering online insurance savings plans direct to customers, and the delivery of a customer-centric experience. For more information, visit our media centre.

Milestones

  • 2019

    – Fitch upgrades the Insurer Financial Strength (IFS) Ratings of Etiqa group’s core operating entities – including Etiqa Insurance Pte. Ltd. (EIPL) – to ‘A’ (Strong), reflecting the group’s ‘Favorable’ business profile and ‘Very Strong’ capitalisation
    – Launched first-in-market online purchase of commercial insurance for SMEs
    – Awarded “Marketing Initiative of the Year – Singapore” at Insurance Asia Awards 2019, for the second consecutive year.

  • 2018

    – Rated ‘A-‘ (Strong) by credit ratings agency Fitch

    – Emerged second in innovation and fifth overall in the Applied Innovation Institute Singapore Insurance Innovation and Digital Benchmark

    – Won ‘Best Cash Management Solution – Singapore’ at The Asset Triple A Awards 2018

    – Ranked among Singapore’s top 1000 corporations and SMEs based on solid financial performance in the 2018 Singapore 1000 rankings

    – Most Innovative Finance Firm – Singapore 2018 World Finance Markets Awards

    – Bronze winner for Claims Management at the Efma-Accenture Innovation in Insurance Awards 2018

    – Awarded “Marketing Initiative of the Year – Singapore” at Insurance Asia Awards 2018

  • 2017

    – Launched the first online insurance savings plan in Singapore
    – First insurer to offer automatic travel delay claims approval
    – Winner of Insurer Claims Team of the Year award at the Claims Awards Asia-Pacific 2017

  • 2015

    – Etiqa becomes one entity with the transfer of general insurance business from Etiqa Insurance Berhad
    – Customer service centre opens
    – First insurer to offer online direct purchase life insurance in Singapore

  • 2014

    – Launched life insurance business in August 2014
    – Winner of Claims Innovation of the Year award

  • 2009

    – Appointed as the official fire insurer for HDB home owners
    – Evolved to become the Singapore branch of Etiqa Insurance Berhad

  • 2001

    – Became known as Maybank General Assurance Bhd.

  • 1961

    Started operations in Singapore as United General Insurance Co. Sdn. Bhd.