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Tuesday, 26 October 2010

News Posts 20101018-20101024

Insurance News MTUC is now objecting PPF as the investment returns are not guaranteed. In particular MTUC seems to be against insurance companies.
PETALING JAYA: The Malaysian Trades Union Congress (MTUC) has called on the 10 million contributors to the Employees Provident Fund (EPF) not to participate in the proposed Private Pension Fund (PPF) as returns for their investment are not guaranteed.
October 20, 2010

Insurance News The SC will be the regulator for private pension fund. A small number (5 to 6) of reputable and credible unit trust and insurance players will be picked to manage the fund. Additional tax relief will be granted gradually.
The Securities Commission (SC) will regulate and monitor the Private Pension Fund, which will be tabled in parliament next year, said Finance Ministry sources today.
October 20, 2010

Insurance News HSBC Amanah Takaful's CEO predicts that takaful industry will overtake conventional insurance in 10 years' time in terms of penetration rate (defined as premiums expressed as % of GDP). This is in view of the 4 new takaful licences issued recently. The challenge of growth however lies in sufficient supply of shariah compliant investment instruments.
Zainudin MALAYSIA'S Islamic insurance industry will surpass its conventional counterpart in 10 years with the entry of new players but it needs more assets to expand further, an Islamic insurer said yesterday.
October 19, 2010


Insurance News With the award of 4 new takaful licences, the talent war has intensified and some staff pinching is expected. Areas identified include actuarial, product development and investment.
Hassan Kamil MALAYSIA'S Islamic insurance industry will surpass its conventional counterpart in 10 years with the entry of new players but it needs more assets to expand further, an Islamic insurer said yesterday.
October 18, 2010




Insurance News AIA shares are being offered in an IPO from today to Thursday and expect to raise up to US$20 bil.
HONG KONG: AIA Group Ltd said yesterday it could raise up to US$20 billion (US$1 = RM3.09) in its global public offering this month, putting it on track to be the world's second biggest IPO of 2010.
October 18, 2010

Insurance News Deputy Finance Minister said government may manage the private pension fund.
The Government may manage the Private Pension Fund but is waiting for feedback on the fund proposed under Budget 2011, says Deputy Minister of Finance Datuk Donald Lim Siang Chai.
October 18, 2010

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