Malaysian Islamic insurer Great Eastern Takaful will expand to Indonesia and Brunei to tap the Muslim market for sharia-compliant products, its chief executive officer said on Monday.

The company, which is owned by a subsidiary of Singapore’s Great Eastern Holdings (GELA.SI) and Malaysia’s armed forces cooperative, also has Singapore and China on its radar for expansion.

It plans to go to Indonesia in 2011 and Singapore and China in 2014 or 2015.

“Both (Indonesia and Brunei) are majority Muslim population and this sharia-compliant insurance will definitely attract the population,” Great Eastern Takaful chief executive Mohamad Salihuddin Ahmad told reporters.

“Beyond that we are also looking into Singapore and China because these are the two countries where Great Eastern has a presence.”