News Post 20100906-20100912

Insurance News Great Eastern China, which currently has its presence in Chongqing and Sichuan, is targeting a branch in Shaanxi this year and another 6 in the next 3 years. The Singapore PM visited their Chongqing head office recently.

Great Eastern joint venture making great strides in China

AFTER stamping its mark on western China over the last four years, Singapore's leading life insurance group Great Eastern Life now wants a greater footprint in the country by expanding across the central and eastern regions.

September 9, 2010

Insurance News KATM, Great Eastern's JV partner in takaful, is no stranger to the OCBC group and in that sense to Great Eastern. OCBC owns significant share of both Great Eastern and Pacific Insurance and KATM has significant ownership in Pacific Insurance. The takaful JV may be able to capitalise on KATM's 140,000 members.

Great Eastern, KATM in win-win alliance

The Great Eastern Life Assurance Co Ltd says its alliance with Koperasi Angkatan Tentera Malaysia Bhd (KATM) will provide access to the latter's 140,000 members nationwide.

September 9, 2010

Insurance News Charlie Oropeza, the CEO of Prudential, was presented with "Outstanding Entrepreneur" award which recognises outstanding individuals for displaying entrepreneurial attributes.

Prudential Assurance chief recognised

PRUDENTIAL Assurance Malaysia Bhd, an insurance and financial services provider, yesterday announced the award of "Outstanding Entrepreneur" given to its chief executive officer Charlie Oropeza (picture) at the Asia-Pacific Entrepreneurship Awards 2010 Malaysia.

September 9, 2010

Insurance News New bancassurance product from HLA with the following features: Term Life, double SA on accidental death, refund of premiums (including extra loadings) on expiry.

Hong Leong launches bancassurance plan

KUALA LUMPUR, Sept 9 (Bernama) -- Hong Leong Bank (HLB) has launched a bancassurance plan that promises customers a refund on premiums paid.
September 9, 2010

Insurance News 1 more article on the issuance of 4 new takaful licences and its impact. Most of the points have been covered and reported previously.

The going gets tough for takaful industry

Malaysia'a takaful industry is expected to step up its performance now that an additional four operators have been issued licences to start business next year, said industry players.

September 8, 2010

Insurance News OAC wants to build its agency force and brand name. The acquisition of Tahan Insurance would increase its agency force from 2,600 to more than 3,000 and strengthen its brand.

Overseas to leverage on Tahan takeover for bigger market share

PETALING JAYA: Building the agency force and brand name are two key areas Overseas Assurance Corp (M) Bhd (OACM) will bank on to strengthen its position in the insurance market with the acquisition of Tahan Insurance Malaysia’s general insurance business.

September 8, 2010

Insurance News AIG has filed an application last Thursday to list AIA on the HK Stock Exchange. CIMB is 1 of the 11 bookrunners.

CIMB picked as one of 11 bookrunners for AIA’s IPO

PETALING JAYA: CIMB Group has been selected as one of the 11 bookrunners for AIA Group Ltd’s US$15bil initial public offering (IPO).
September 6, 2010