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Monday, 1 November 2010

News Posts 20101025-20101031

Insurance News Great Eastern Takaful's targets: a) Expand operations to Indonesia and Brunei by 2H 2011 b) Penetrate Singapore and China markets within 3-5 years c) RM1 bil contributions in the next 5 years.
Salihuddin KUALA LUMPUR: i Great Capital Holdings Sdn Bhd (i-Great), the parent of the new joint venture (JV) takaful licensee Great Eastern Takaful Sdn Bhd, hopes to expand its Islamic insurance operations in Indonesia and Brunei by the second half of next year.
October 30, 2010

Insurance News Some highlights of Great Eastern's Q3 results: regular premium ILP in Malaysia grew 55% in 2010; CAR above 200% in Malaysia; group profit grew 15%; group weighted premium rose 12%.
27 October 2010 – Great Eastern Holdings Limited today reported Group profit attributable to shareholders of $168.6 million in Q3-10 compared to $33.6 million in the same period last year.
October 28, 2010

Insurance News Takaful operators can expand fast especially in a new market by allowing their products to be white-labelled or to be the outsourcing partner of a local player in that new market. Some key success factors for proper takaful industry development include strong legal and shariah framework and mutual recognition of financial standards and products.
THERE is a rising trend of outsourcing and white labelling in the takaful industry as companies seek to expand faster.
October 28, 2010

Insurance News The Insurance Regulatory and Development Authority (IRDA) has banned universal life products in India. More than 500 life insurance products were banned since 2007 for being opaque or against the interest of policyholders. There are differing views on the role of appointed actuaries (AAs) in ensuring products are fair and equitable, given the different hats that AAs may wear. There are also suspicions that the product bans are not purely due to equity issue but are driven by parties who try to meet their self interests.
Chennai, Oct 24 (IANS) The Indian actuarial profession is in the spotlight with more than 500 life insurance products being scrapped by the insurance regulator since 2007 for being opaque or against...
October 26, 2010

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