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Monday, 24 May 2010

News Posts 20100517-20100523

Insurance News AXA Affin General has launched a PA product named SmartAid which charges normal rates for the visually impaired persons. SmartAid covers accidental death and TPD, medical expenses due to accident as well as funeral expenses.
SmartAid, the first personal accident insurance scheme in Malaysia for the visually impaired, was launched today by AXA Affin General Insurance Bhd.The product, developed in collaboration with the Malaysian ...
May 21, 2010

Insurance News HLTMT launched a 5-year capital protected plan named China Growth Income Plan (CGIP), sum covered is upto 125% of single contribution.
KUALA LUMPUR, May 18 (Bernama) -- Hong Leong Tokio Marine Takaful Bhd (HLTM Takaful) on Tuesday launched its new China Growth Income Plan (CGIP). The five-year capital preserved investment plan is Syariah-compliant, ...
May 19, 2010

Insurance News Consumers' Association of Penang wants to see a No Fault Liability insurance scheme to replace the current 3rd party motor insurance. The NFL scheme would run in a similar fashion as SOCSO. It is claimed to be more cost effective with lower management expenses, no lawyer fees and no commission to agents. Compensation would also be made faster.
GEORGE TOWN: Imagine the trauma an accident victim or the beneficiary goes through while waiting for the courts to decide on an insurance claim which could drag on for years.
May 19, 2010

Insurance News The sale of Pacific Insurance is targeted to be completed by Oct 2010. Currently the 2 potential buyers are Great Eastern and Fairfax Asia.
PACIFICMAS Bhd (4782) hopes to conclude the sale of its insurance arm by October this year to meet the deadline imposed by the regulator on parent Oversea-Chinese Banking Corporation Ltd (OCBC), says its top executive.
May 19, 2010

Insurance News MAA is targeting to complete the M&A deal by Q1 2011. There are a few potential partners, these are "foreign parties". The M&A deal would result in injection of capital to strengthen MAA's CAR.
KUALA LUMPUR: MAA Holdings Bhd, which is on the lookout for merger and acquisitions (M&As) for its life insurance business, has a few potential suitors interested to buy a stake in the business, said chief executive officer and group managing director Muhamad Umar Swift.
May 19, 2010

Insurance News Jerneh Asia and Paramount have submitted application to MOF via BNM for the approval to enter into agreement with a potential buyer for the disposal of Jerneh Insurance. The identity of the potential buyer is still not revealed at this stage. Any guesses?
KUALA LUMPUR: Jerneh Asia Bhd has received Bank Negara's approval to start talks with certain parties with the aim of hiving off its insurance arm, Jerneh Insurance (M) Bhd.
May 19, 2010

Insurance News Prudential has released the details of its rights issue: 11 news shares for every 2 held at 104 pence per share.
LONDON: Britain's Prudential launched its US$21 billion rights issue on Monday, May 17, finally allowing the insurer to push ahead with its acquisition of AIG's Asian insurance business.
May 17, 2010

Insurance News The revised TPBID scheme will go to Cabinet in July after BNM reflects the feedback from the public as deemed necessary.
BANK Negara Malaysia is finalising the new third-party motor insurance scheme and is expected to submit its proposal to the Finance Ministry by July for approval by the Cabinet, said its Deputy Minister Datuk Dr Awang Adek Hussin. ...
May 17, 2010

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