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Monday, 21 March 2011

News Posts 20110307-20110313

Insurance News BNM has issued a press statement which seems to be in response to the call by several MPs yesterday for BNM to take stern actions on some motor insurers.
Bank Negara Malaysia would like to provide a statement on the new motor cover framework. It will provide a holistic solution to the issues that has been raised. This new framework will address in particular the concerns of high premiums and difficulty in having access to motor cover. A two-pronged s
March 11, 2011

Insurance News Several MPs have urged BNM to take stern actions against motor insurers that charge exorbitant premiums and/or force customers to buy additional coverage before issuing 3rd party motor insurance.
KUALA LUMPUR: Bank Negara Malaysia (BNM) has been urged to rein in errant companies that impose exorbitant third-party charges.
March 10, 2011

Insurance News Prudential's net profit more than doubled in 2010 and enjoyed a strong growth from its flagship Asian operations.
LONDON: Insurer Prudential will pay out a bigger-than-expected dividend on forecast-beating 2010 results, as it seeks to dispel lingering shareholder resentment over the group bungled and costly bid for rival AIA last year.
March 10, 2011

Insurance News Any idea what the new name will be for HLTMT after Tokio Marine pulls out on 1 April and replaced by Mitsui Sumitomo?
March 10, 2011

Insurance News PruBSN has become the 7th takaful provider on the panel of Treasury housing loans division, offering mortgage protection plan (PruBSN Gadai Janji) and a homeowner protection plan (Takaful Rumahku) to the civil servants.
PRUDENTIAL-BSN Takaful Bhd (PruBSN), a newcomer to the Treasury housing loans division's (BPP) takaful panel, expects to capture a considerable share of takaful protection for the estimated RM6.8 billion civil servants home loans this year.
March 10, 2011

Insurance News Labuan IBFC licensed insurance and takaful firms can now locate their management and operational offices anywhere in Malaysia.
LABUAN: Labuan International Business and Financial Centre (Labuan IBFC) licensed insurance and takaful firms can now locate their management and operational offices in Kuala Lumpur, or any other city within Malaysia, in line with the ongoing process of co-location and the movement towards a fully abstract international business and financial centre.
March 10, 2011

Insurance News Allianz General targets 10% growth in 2011 although the CEO thinks that 6-8% growth is more likely. The growth will be a result of the bullish economy as various ETP projects kick in which are expected to spur construction activities and consumer spending power.
Zakri The significant target growth will ensure Allianz General Insurance continues to lead in the sector, says its chief executive officer.
March 9, 2011

Insurance News Aviva said that the growth of Takaful has been weaker than expected. Asian currency appreciation contributed to 10 percentage points increase in premium growth in Asia.
BEIJING: Growth in Southeast Asia's Islamic insurance sector has been weaker than expected with many consumers happy to settle for regular policies, the Asian head of Britain's No. 2 insurer Aviva said on Tuesday, March 8.
March 8, 2011

Insurance News HLA Holdings will complete the deal of acquiring 35% stake in HLTMT from Tokio Marine and selling the same stake to Mitsui Sumitomo on 1 April. The deal is struck at RM33.64 mil.
Hong Leong Financial Group Bhd (HLFG)'s unit HLA Holdings Sdn Bhd (HLAH) will sign the formal agreement on April 1 for its proposed acquisition of 35 per cent equity interest in Hong Leong Tokio Marine Takaful Bhd (HLTMT) from Tokio Marine & Nichido Fire Insurance Co Ltd.
March 7, 2011

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