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Sunday, 11 April 2010

News Posts 20100404-20100410

Insurance News Aviva is making a come back in general insurance market starting with Singapore. Aviva General was sold to MSIG in Malaysia in 2006.
LONDON: British insurer Aviva said yesterday it will re-enter Asia's general insurance business with the launch of services in Singapore, a month after rival Prudential bought the Asian unit of AIG. "Aviva ...
April 10, 2010

Insurance News Proton has been a long-time sponsor of BAM since 1985. However, in February 2010, ING came in as a new sponsor and players started wearing T-shirts with ING's logo in front at the German open. Proton now wants its logo back in front rather than on the sleeve. They may have smelled the chance of the national team winning the Thomas Cup to be held soon.
PROTON Holdings Berhad is demanding that the Badminton Association of Malaysia (BAM) continues to give it the same prominence which it has enjoyed since 1985. It also wants the company's logo to be featured in front of the T-shirts worn by national players.
April 10, 2010

Insurance News Allianz Life's existing CEO will leave the country to head for Turkey. His position will be taken over by the current CEO of Allianz in Indonesia.
The Company wishes to announce that the Chief Executive Officer (“CEO”) of the Company, Mr. Cornelius Alexander Ioannis Ankel has been designated to take over the management of Allianz operations in Turkey.Mr. ...
April 10, 2010

Insurance News Lonpac's underwriting surplus before management expenses in Q1 improved by 52%, on the back of 11.5% increase in revenue, compared to the same period last year.
PETALING JAYA: LPI Capital Bhd posted a slight increase in net profit of RM38.32mil for its first quarter results ended March 31, 2010 as compared with RM35.5mil in the previous corresponding period.
April 8, 2010

Insurance News Lai Leong Pin, the Chief Agency Officer of Prudential, has been appointed as Prudential's General Manager.
PRUDENTIAL Assurance Malaysia Bhd has appointed Lai Leong Pin as its general manager.In a company statement, Prudential chief executive officer Charlie Oropeza said Lai’s appointment underlined the importance ...
April 7, 2010

Insurance News The proposed TPBID compensates for injuries but does not cover other vagaries such as loss of current and future income.
KLANG: The Consumers Asso­ciation of Penang (CAP) has welcomed the Prime Minister’s statement that he will tell Bank Negara to consult all interested parties with regard to the proposed new basic motor insurance coverage for third-party injuries and death.
April 6, 2010

Insurance News Allianz General launched a PA product that covers among others medical expenses related to dengue, malaria, JE; kidnap, snatch theft etc.
ALLIANZ General Insurance Company (Malaysia) Bhd has introduced the enhanced Personal Accident plan Allianz Shield, which is designed to provide a more comprehensive coverage, it said in a statement.Allianz ...
April 6, 2010

Insurance News FOMCA proposes that a fund be setup and managed by government to resolve the TPBID issue. Those who are injured in car accident can seek compensation from the fund. This approach is used in Australian and NZ. The fund can operate in a similar fashion as SOCSO and is to be funded by the public.
(雪蘭莪‧八打靈再也)大馬消費人聯合會(FOMCA)總秘書莫哈末沙阿尼建議當局設立一個由政府管理的基金,讓任何在車禍受傷的人士索取賠償金,減少涉 及三號車險的投保人、保險業者及第3方的爭議。
April 6, 2010

Insurance News Maybank will transfer its shares in Mayban Fortis Holdings Bhd to Etiqa International Holdings Sdn Bhd. After the transfer, Etiqa International will serve as the investment holding company for Maybank's insurance, takaful and asset management businesses.
Malayan Banking Bhd (Maybank) today announced the proposed transfer of 165.321 million ordinary shares in Mayban Fortis Holdings Bhd, representing its direct equity interest of 69.05 per cent, to Etiqa International Holdings Sdn Bhd.
April 5, 2010

Insurance News Watch out for this type of motor insurance scam that was exposed in UK. A car owner is paid a fee to admit liability for causing car damage and bodily injury in an accident that never happened. The car of the "victim" then gets smashed up in a yard and an insurance claim of around £20,000 is filed.
Undercover reporters allege that a Woverhampton-based outfit, run by Zeeshan Ahmad, fakes accidents by smashing up cars in a yard.
April 4, 2010

Insurance News HSBC Amanah Takaful will launch a regular contribution retirement product in May, which has features similar to a product sold in HK by HSBC. 7 new products are planned to be rolled out this year. The global financial crisis has affected the single contribution investment-linked plans while favouring non-ILP plans.
HSBC Amanah Takaful (Malaysia) Sdn Bhd, the Islamic insurance arm of HSBC Bank Malaysia Bhd, is poised to launch a new regular premium retirement plan in May that is expected to drive the company's growth for 2010. ...
April 4, 2010

Insurance News PM instructed BNM to consult consumer groups before finalising TPBID scheme. The scheme apparently has a cap of RM100,000 compensation. PM also took note of the loss suffered by the industry in motor insurance.
BANK Negara Malaysia (BNM) must take into consideration the plight of the people when proposing new basic motor insurance coverage for third-party bodily injury and death, just like enacting any other policy. ...
April 4, 2010

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