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Monday, 3 January 2011

News Posts 20101227-20110102

Insurance News OACM will take over the general insurance business of Tahan from 1 Jan 2011.
KUALA LUMPUR, Dec 30 (Bernama) -- Overseas Assurance Corp (M) Bhd (OACM), a wholly-owned unit of Great Eastern Holdings Ltd (GEH) will take over the general insurance business of Tahan Insurance (M) Bhd with effect from Jan 1, 2011.
December 31, 2010

Insurance News Shortage of experienced talent continues to haunt the local insurance industry.
THERE is a serious shortage of experienced talent in the local insurance industry, says leading player Great Eastern Life Assurance (Malaysia) Bhd.
December 31, 2010

Insurance News AXA Affin General and BH Insurance will operate as one from 1 Jan 2011.
AXA Affin General Insurance Bhd will merge with BH Insurance (M) Bhd and operate as one entity starting Jan 1.
December 31, 2010

Insurance News Pacificmas shareholders have approved the sale of Pacific Insurance to Fairfax Asia Ltd. The disposal is expected to be completed in February or March 2011.
From left:Ng, Nasruddin and Lee Pacificmas will give shareholders back some RM215 million from the sale proceeds and focus on its two core businesses -- hire-purchase and fund management.
December 31, 2010

Insurance News The PIDM Bill 2010 will come into operation from 31/12/2010. Takaful and Insurance Benefits Protection System (TIPS) is part of the Bill and is an explicit, limited Government protection system which covers takaful and insurance benefits. PIDM is empowered by the Bill to intervene in or resolve troubled insurer members and ensure prompt payments to claimants under TIPS.
KUALA LUMPUR: The deposit insurance limit will be increased to RM250,000 per depositor per bank with effect from Friday, Dec 31, 2010 and this will protect 99% of retail depositors in full.
December 30, 2010

Insurance News Hope that MoH's initiative will be successful in controlling medical inflation in particular curbing the abuse of charging patients with medical insurance higher amount.
PETALING JAYA: Health Ministry will enhance its mechanism to monitor private health care providers and hospitals to prevent misuse of medical benefits provided under insurance policies by carrying out needless procedures and examinations on patients.
December 29, 2010

Insurance News Uni.Asia could be the next insurer to be involved in M&A with sources saying that DRB is divesting its stakes in the insurer. Earlier UOB, the other stakeholder of Uni.Asia also divested its insurance arm UOB Life in Singapore to Prudential.
KUALA LUMPUR: Diversified group DRB-Hicom Bhd is exploring the possibility of divesting its interests in insurers Uni.Asia Life Assurance Bhd and Uni.Asia General Insurance Bhd, say sources
December 29, 2010

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