Mayban Life Assurance Berhad (Mayban Life) is the life insurance subsidiary of Maybank, the largest banking group in Malaysia.

In 1993, Maybank acquired the life business of Safety Life & General Insurance Sdn Bhd and subsequently renamed Mayban Life Assurance Berhad. Mayban Life commenced operations on July 1, 1993 with an Authorised Capital of RM50 million and issued and Paid Up Capital of RM27 million. The Authorised as well as issued and paid-up capital have been increased to RM100 million.

A major factor differentiating Mayban Life from the rest of the life insurance companies is the absence of an agency force and its unique position as the only insurance provider in Asia which is fully dedicated to "Maybank Bankassurans". Mayban Life's products are not distributed by life agents, but by trained specialists located in Maybank and Mayban Finance branches throughout Malaysia.

These trained specialists, known as Financial Executives, undergo intensive training and studies before being allowed to sell life insurance policies. Areas covered under the training programme include detailed knowledge on products and regulations as well as financial planning. Most importantly, these financial executives are backed by the nation's largest bank and are guided by the strong and ethical principles of TIP; Trust, Integrity and Professionalism.

These Financial Executives distribute life insurance products of Mayban Life. Mayban Life's product offerings include savings with life insurance schemes that are customised exclusively for Malaysians from all walks of life. We provide Financial Planning beyond savings - children's education, retirement, protection and investment schemes that benefit customers and their loved ones.

The personalised financial planning and innovative service has shown promising results as evidenced by Mayban Life's increasing market share in new life insurance business and the "Life Insurance Company of the Year for 1999 Asia" Award.

To further strengthen and develop Bankassurans, a strategic partnership agreement was signed between Maybank and Fortis InsuranceInternational NV (Fortis) on February 8, 2001. Under this agreement, Fortis obtain a 30% equity interest in Maybank's life and non-life insurance business. Fortis is a highly established and successful bancassurer in Europe.

The partnership agreement was completed on 28 June 2001 with the sale of the remaining equity interest which has resulted in Maybank now effectively owning 62% of the equity, Fortis owning 30% and the remaining 8% held by Safety Capital Berhad.