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Sunday, 3 October 2010

News Posts 20100927-20101003

Insurance News The 15.2% stake in RHB Insurance is valued at RM44.49 mil or 1.85 times book value. Earlier Jerneh Insurance was priced at 1.07 times book value.
KUALA LUMPUR: RHB CAPITAL BHD [] is buying out a 15.2% stake in RHB Insurance Bhd from Nissay Dowa General Insurance Co. Ltd for RM44.49 million.
September 30, 2010

Insurance News ING expects its Takaful JV with Public Bank to gain 20% market share within 5 years. Public Bank group owns 40% of the JV and not 60% as reported in the article by BT.
ING Insurance Bhd and Public Bank Bhd will set up their joint-venture company for family takaful business next year, ING Insurance's chief financial officer Anusha Thavarajah said today.
September 30, 2010

Insurance News Peter Miller, the Head of Insurance at CIMB Group, is joining Tune Money as its new CEO. It is believed that Miller's position at CIMB would be filled by a CEO of one of the life insurance companies.
TUNE Money Sdn Bhd, the one-stop online financial services company under Tune Group, today announced the appointment of Peter Miller as its new chief executive officer effective Friday (Oct 1).
September 29, 2010

Insurance News RHB Capital has received BNM's approval to acquire 15.2% of RHB Insurance from Nissay Dowa.
PETALING JAYA: RHB Investment Bank Bhd has received Bank Negara’s approval for RHB Capital to acquire 15.2% of the paid-up share capital of RHB Insurance from Nissay Dowa, it told Bursa Malaysia yesterday.
September 28, 2010

Insurance News Agents have a big potential to improve the current insurance penetration rate of 41%. In Malaysia, only 20.5% of the agents are bumiputras.
Adnan Zain PETALING JAYA: Insurance agents in Malaysia have a big potential to expand the life insurance market since its penetration rate has only reached 41%, Life Insurance Association of Malaysia president Adnan Zain said.
September 27, 2010

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