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Sunday, 11 December 2011

News Posts 20111204-20111210

Insurance News  -  9 Dec 2011  -  Public
Has Kurnia found a buyer? http://bit.ly/rXZ0Or

Kurnia Asia Bhd, a Malaysian insurer, rose to a one-month high in Kuala Lumpur trading as Hong Leong Financial Group Bhd said its stock price is poised to rally.
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Insurance News  -  8 Dec 2011  -  Public
More than 20 agents from an unnamed insurance company has lodged their complaint to MCA on their contracts being unfairly terminated.http://bit.ly/t2UBZK

指公司無理解僱14天生效20保險代理失業失傭金. 國內. 2011-12-07 18:02. 這班代理不滿被解僱而向張天賜(左2)求助。左1為郭撲進。(圖:星洲日報). (吉隆坡7日訊)逾20名來自全國各地的某家保險公司代理申訴,上半年遭公司無理解僱且在14天生效,令他們失去工作及常年累積的紅利、花紅和傭金等,因此深感不滿! ...
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Insurance News  -  8 Dec 2011  -  Public
ING set aside RM4.6 bil provision for the loss-making variable annuity business in US as the policyholder behaviour diverged from the earlier assumptions made by ING. http://bit.ly/usNFWo

THE HAGUE: Dutch banker ING said yesterday it was setting aside a fourth-quarter provision of e900 million to e1.1 billion (RM4.62 billion) to cover commitments on US-based annuity products.
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Insurance News  -  7 Dec 2011  -  Public
Great Eastern launched "Great Cash Gain" endowment plan. Features: a) Choice of limited or full payment term; b) 180% SA at maturity and on death & TPD; c) Double indemnity on accidental death.http://bit.ly/rWLXZ5

Great Eastern Life launchs flexible endowment plan
Great Eastern Life Assurance (Malaysia) Bhd today launched a flexible endowment plan called "Great Cash Gain".
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Insurance News  -  7 Dec 2011  -  Public
2 fund managers voiced their opinions on PRS. PRS must have its own unique selling propositions in order to attract investors. One such USP is that it provides an alternative for those who want to have some say in the asset allocation of their retirement scheme. http://bit.ly/sQP7Dn

PETALING JAYA: Fund managers are mixed on the feasibility of setting up a private retirement scheme (PRS), as they need to know how it is governed and how different it is from a typical unit trust.
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Insurance News  -  5 Dec 2011  -  Public
Chartis has appointed 2 key management staff. http://bit.ly/vDBAzz

Chartis announces new appointments
Chartis Malaysia Insurance Bhd,a property-casualty and general insurance company, has appointed Soo Wai Har as its Finance and Corporate Senior Vice-President and Director.
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Insurance News  -  5 Dec 2011  -  Public
Application for Private Retirement Scheme (PRS) licence is now open and submission for a licence must reach SC by 15 February 2012. Successful applicants must meet various criteria including expertise in pension or retail fund management. A minimum of 3 funds must be offered under PRS namely: Growth, Balanced and Conservative funds. Applicant also must have assets under management of at least RM1 bil annually within the last 3 consecutive years. There was no mention of requirement to provide pensions as part of the retirement benefit. http://bit.ly/spQTti


KUALA LUMPUR (Dec 5): The Securities Commission Malaysia (SC) has finalised the eligibility requirements for private retirement scheme (PRS) providers and eligible firms can now make submissions to be approved as PRS providers.

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