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Sunday, 19 September 2010

News Post 20100913-20100919

Insurance News FSA inked an agreement with HLTMT to distribute its takaful products.
FIRST Sovereign Advisory Sdn Bhd (FSA), the country's first licensed Islamic financial advisory firm, hopes to form partnerships with more takaful and financial companies over the next 12 months.
September 18, 2010

Insurance News Matt Harris was appointed as CEO for Chartis effective 3 August. He was previously CEO of Chartis NZ.
CHARTIS Malaysia Insurance Bhd, a property-casualty and general insurance provider, has appointed Matt Harris as chief executive officer (CEO) from August 3.
September 18, 2010

Insurance News Charlie believes that Prudential has solid strategy that does not require many changes. Putting right people in critical positions is key to ensure initiatives are executed to meet objectives. On products, quality beats quantity, product launch should be of value, less can be more. He believes that Pru's competitive advantage lies in service excellence mandate for staff, leading by example policy for management and professionalism & stability of distribution channels.
Charlie Oropeza PRUDENTIAL Assurance Malaysia Bhd, under the stewardship of Charlie Oropeza, has been about having the right people in critical positions and adjusting its initiatives to support economic and market environment, and competition.
September 17, 2010

Insurance News Heavyweight Chinese investors could potentially bid for Prudential, with the intention of offloading Pru's US and UK divisions, keeping only the flagship Asian division. Factors that may affect the potential bid include the relative pricing of AIA's IPO and whether Pru's US and UK divisions can be offloaded at an attractive price.
* Pru shares up 4.5 pct, breaching 602 pence pre-AIA price * Potential Chinese bid depends on AIA IPO price-analyst * Lack of buyers for Pru UK, U.S. units impedes deal-banker By Myles Neligan and ...
September 14, 2010

Insurance News The confirmed buyer of Jerneh Insurance is ACE INA, for a transaction amount of RM654 mil, subject to final adjustments to transaction price to reflect book value at disposal date.
Reference is made to the announcements dated 18 May 2010 that JAB and Paramount Global Assets Sdn Bhd (“PGA”), a wholly-owned subsidiary of Paramount Corporation Berhad (“PCB”), have submitted an application to Bank Negara Malaysia (“BNM”) for the approval of the Minister of Finance (“MoF”) pursuant to Section 67 of the Insurance Act 1996, to enter into an agreement with a potential buyer for the proposed disposal by JAB and PGA of their respective 80% and 20% equity interests in JIB to the said potential buyer.
September 14, 2010

Insurance News PruBSN launched 3 products: PruBSN Protect (Term), PruBSN ProtectPlus (Term with increasing SA) and PruBSN CrisisCover (covers 36 CIs, optional death monthly income).
KUALA LUMPUR: Prudential BSN Takaful Bhd (PruBSN) had on Monday, Sept 13 launched three insurance plans -- PruBSN Protect, PruBSN ProtectPlus and PruBSN CrisisCover.
September 13, 2010

Insurance News Niosh is calling for insurance coverage to be provided to the mentally ill.
PETALING JAYA: Insurance coverage should be provided for the mentally ill, while their parents should be given income tax relief, said National Institute of Occupational Safety and Health (Niosh) chairman Tan Sri Lee Lam Thye.
September 13, 2010

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