Incorporated in 1977, Hayat Insurance Brokers Sdn. Bhd. (Hayat) started from very humble beginnings and has since grown to become the broker of choice for a diverse range of corporate clients. These clients range from large well-known multi-nationals and foreign missions to large Malaysian public-listed companies to non-profit organisations and even SMEs. For many of these clients, Hayat has been their broker of choice for many years – and in some cases, decades. Hayat’s client base also hails from a wide range of industries including property development, manufacturing, education, professional firms, power generation, IT, retailing, hospitality management, healthcare, and many more.

Over the years, Hayat has built up a solid base of experience across several Insurance Classes including: Engineering and Construction Insurance, Employee Benefits, Liability Insurance, and other General / Miscellaneous Property Insurance Classes.

Fire Insurance and Motor Insurance are two classes which fall under the General / Miscellaneous Property Insurance Classes. For many years in Malaysia, Fire Insurance and Motor Insurance were tariff-rated and heavily regulated by the Malaysian Central Bank, Bank Negara Malaysia (BNM). However, in the middle of 2016, BNM commenced a very gradual detariffication process beginning with the relaxing of rules around the introduction of new non-tariff products and optional add-on covers from July 2016 onwards, and then very gradual tariff adjustments from July 2017 onwards. The entire detarrification process appears to have no official end-date, but BNM has announced that they will assess the “readiness of consumers and industry for further liberalisation” from 2019 onwards. As in many countries, Motor Third Party Insurance is mandatory for all motor vehicles.

Arthur Hon is the Managing Director of Hayat. He began his career in 1970 with AIA and joined Hayat in 1983. In 2016, he was awarded the Malaysian title of Dato’ – which might be approximated as a type of knighthood. This award was given to him in recognition of his several decades of service as an insurance broker for the holdings of one of the Malaysian royal families.