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Monday, 28 November 2011

News Posts 20111108-20111127

Insurance News  -  26 Nov 2011  -  Public
HSBC Amanah Takaful uses tailored solutions for different life stages to protect and grow its customers' financial future. Bancatakaful is HSBC's main channel and it believes that such a channel provides a holistic approach to financial planning.

Insurance News  -  26 Nov 2011  -  Public
Takaful Ikhlas and MAA Takaful will provide group hospital and surgical cover and group personal accident cover respectively to foreign students under the care of FOSMEC from January 2012. The combined contributions for both covers will be RM300 or less.

Insurance News  -  25 Nov 2011  -  Public
MNRB's 6-month results: net loss RM5.94 mil (2010: net profit RM21.26 mil); revenue RM362.85 mil (2010: RM338.97 mil). Thailand flood has impacted its profitability.
KUALA LUMPUR (Nov 25): MNRB HOLDINGS BHD [] shares retreated in early trade on Friday after the company said that it expected to face a challenging year in view of the impact of the Thailand flood loss.

Insurance News  -  25 Nov 2011  -  Public
Kurnia's 9 months results: Net Profit: RM36.7 mil (up 57.6%); GWP: RM814.6 mil (up 1.9%). Non-motor business posted a 18% growth.

Insurance News  -  25 Nov 2011  -  Public
Manulife's first 9 months results: Pre-tax profit RM65.3 mil (2010: RM57.5 mil); Revenue RM455.2 mil (2010: RM432.7 mil).

Insurance News  -  25 Nov 2011  -  Public
STMB's profit rose from RM33.2 mil (9 mths 2010) to RM60 mil (9 mths 2011) while operating revenue also increased by 18% from RM889 mil to RM1.04 bil. The growth was due to the General Takaful and Group Family Takaful.

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd’s profit before zakat and taxation increased 81% to RM60 million for the nine months ended Sept 30, 2011 as compared with RM33.2 million last year.

Insurance News  -  24 Nov 2011  -  Public
PruBSN's Q3 NB sales hit RM53.9 mil, up 57% from the same period in 2010.


Insurance News  -  23 Nov 2011  -  Public
ACE Synergy has teamed up with Aon and Manchester United Football Club to launch Red Protect. The personal accident insurance product targets MU fans aged 18 and above and is expected to sign up 400,000 fans.
Aon Corp, the world's largest insurance broker, has teamed up with the Manchester United Football Club to launch the club's first insurance product in the country.

Insurance News  -  23 Nov 2011  -  Public
Legal & General Gulf Takaful has plan to set up operations in Malaysia. It currently operates in the Middle East and focuses on family takaful business.

Legal & General Gulf Takaful, a unit of Legal and General Gulf, may set up business operations in Malaysia at some point to meet the growing demand for takaful products, its managing director Manf...

Insurance News  -  22 Nov 2011  -  Public
PwC said the low penetration in Malaysia's insurance industry continued to attract interest from Japanese, Australian and European insurance giants and there is also potential for rationalisation of the takaful market.
Malaysian financial services players, especially the banking sector, are keen on merger and acquisition (M&A) deals, said PricewaterhouseCoopers (PwC).

Insurance News  -  21 Nov 2011  -  Public
AmTakaful has apparently yet to receive its operating licence. The company set up a website last month but this has since been removed. AmTakaful has 8 products in plan. Its CEO is Wan Zamri, who was formerly the CEO of AIA Takaful International Bhd.
KUALA LUMPUR AmTakaful Sdn Bhd, the Islamic insurance arm of AMMB Holdings Bhd, has appointed Wan Zamri Wan Zain as its chief executive officer.

Insurance News  -  The reporter made a little blunder: AmTakaful only has family takaful licence and hence they can't be selling motor takaful. Auto Life-i (HPRTT) is apparently a family takaful coverage on the life of the borrower of a car loan, maybe that's where the confusion.
21 Nov 2011   

Insurance News  -  19 Nov 2011  -  Public
Etiqa Insurance and Takaful signed a new collective agreement with the Union. More than 500 non-executives of Etiqa will be entitled to 8 revised benefits: increase in mileage claim, increased laundry allowance, increased meal allowance, eye care and dental extraction, scaling and filing, 90-day maternity leave and retirement age of 57.
Etiqa Insurance and Takaful and the National Union of Commercial Workers have signed a new collective agreement for this year until 2013 to offer better working benefits to its non-executive staff.

Insurance News  -  19 Nov 2011  -  Public
Allianz saw its revenue rose by 11% but pre-tax profit came in lower.
Allianz Malaysia Bhd's pre-tax profit for the 3rd quarter ended September 30 2011 fell to RM46.373 million compared to RM50.379 million in the same period last year.

Insurance News  -  19 Nov 2011  -  Public
Prudential may sell or spin off assets from 2013 but it was not made clear which asset or from where. Given that the group is seeking growth in Asia, the sale of assets is not likely to be in Asia.

Prudential Plc’s Chief Executive Officer Tidjane Thiam said he may sell or spin off assets from 2013, according to analysts who attended an investor presentation with the company in Malaysia.

Insurance News  -  17 Nov 2011  -  Public
AIA AFG plans to set up 3 branches next year, 1 each in Klang Valley, northern and southern regions. A new product is also planned for January next year, adding to the 4 products that it currently has.

KUALA LUMPUR, Nov 15 -- New takaful operator AIA AFG Takaful Bhd plans to set up three branches next year, its chief executive officer Wan Azman Wan Mamat said.

Insurance News  -  17 Nov 2011  -  Public
The new 10-year Financial Sector Masterplan will be unveiled by the PM next month.

KUALA LUMPUR The Financial Sector Masterplan will be launched next month, said Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz.

·         Insurance News
ING's CEO Datuk Dr Nirmala may be transferred to the regional office in HK soon taking on a bigger role. When contacted by the reporter, Dr Nirmala neither confirmed nor denied the story.

KUALA LUMPUR: Datuk Dr Nirmala Menon is poised to leave her post as chief executive officer (CEO) of ING Insurance Bhd and spearhead the Dutch insurance giant's regional office in Hong Kong soon.

Great Eastern's CEO Koh has been named a Transformational Corporate Leader brand icon. Koh believes that "the achievement does not signify the brilliance of one person alone, but the triumph of each and every member of our Great Eastern family who are all committed to delivering on the brand promise".

Great Eastern Life Assurance (M) Bhd's director/chief executive officer, Datuk Koh Yaw Hui, has been named a "Transformational Corporate Leader" brand icon at the BrandLaureate Brand Icon Leadership Awards 2011.

Tuesday, 8 November 2011

News Posts 20110917-20111107

Compilation of Insurance News published in pdf format:

Insurance News Posts 20110917-20111107