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Tuesday, 20 December 2011

News Posts 20111211-20111217


Insurance News  -  18 Dec 2011  -  Public
PruBSN will open more branches and launch more products next year although the CEO did not reveal the details. http://bit.ly/v0Wuu3

PruBSN expansion plans
KUALA LUMPUR: Prudential BSN Takaful Bhd (PruBSN) plans to add new branches and launch more products next year.
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Insurance News  -  15 Dec 2011  -  Public
Plus' sukuk with longest tenure of 25 years and a high yield of 5.07% would be a good investment instrument for life insurers in their effort of achieving better asset and liability management. The sukuk carries AAA rating. http://bit.ly/w3xp3B

PLUS Bhd’s record RM23.4 billion (US$7.3 billion) Islamic bond sale is attracting life insurers with higher-than-average yields and maturities of as much as 25 years.
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Insurance News  -  15 Dec 2011  -  Public
Kurnia has neither admitted nor denied that it was in talk with IAG to sell its GI business to the latter. http://bit.ly/sEEex2

PETALING JAYA: Kurnia Asia Bhd said it was still in negotiations for the possible disposal of an equity interest in Kurnia Insurans (M) Bhd (KIMB) and it could not comment on the price or the relevant...
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Insurance News  -  15 Dec 2011  -  Public
Takaful IKHLAS has forked out RM12,000 to provide 60 needy children with basic school gear for next month. http://bit.ly/tUCn7H

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Insurance News  -  14 Dec 2011  -  Public
Zurich has made an application to MAS for a full subsidiary licence for its life insurance business in Singapore. With that, it plans to double its life insurance premiums in 3 years. Zurich expects emerging markets to contribute about half of its new life insurance business by 2013, up from the current 26% contributions. http://bit.ly/vzTDq8

Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years.
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Insurance News  -  14 Dec 2011  -  Public
Kurnia may be announcing this week the sale of its GI business to IAG. Congratulations to 1 of our readers who last week tipped us with "KurniaAM"! The deal may be priced at 2.5 to 3 times book value.http://bit.ly/trEBI2

PETALING JAYA: General insurance company Kurnia Asia Bhd will likely announce its decision to sell an equity stake in its wholly-owned subsidiary Kurnia Insurans (M) Bhd (KIMB) to Insurance Australia ...
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Insurance News  -  14 Dec 2011  -  Public
PruBSN has announced the winners of 'Prudential BSN Takaful's Funancier Cartoon It!' contest. The contest aimed to introduce the Takaful concept in a light and fun way. The contest called for comic strips in 5 different Takaful categories: a) Exclusion in Takaful Plan; b) Basic Takaful terminology; c) Takaful Benefits; d) Types of Takaful Cover; e) Takaful Agent. http://bit.ly/teJyyj

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Insurance News
  -  14 Dec 2011  -  Public
An assemblyman claimed that there were rampant cases of Singaporeans dumping their cars in Johor and went back to Singapore to file an insurance claim on car theft. http://bit.ly/rXuKdk

AN assemblyman has called for an investigation into Singaporeans who “dump” their vehicles in Johor to claim insurance when they return to the island republic.
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Insurance News  -  14 Dec 2011  -  Public
There has been no positive progress in MAC's attempt to get insurance companies to cover HIV/AIDS medical expenses. http://bit.ly/vbtyRr

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Insurance News  -  13 Dec 2011  -  Public
Prudential's NB sales increased 13% from RM655 mil (2010 Jan-Sep) to RM743 mil (2011 Jan-Sep). The CEO attributed the growth to: a) High productivity by agency force; b) Growing banca business; c) Product innovation; d) Service and operational excellence. 73% of its NB sales came from investment-linked and on average 6 riders were attached to each basic policy. http://bit.ly/uruPUk

Prudential: Strong sales momentum to continue
PRUDENTIAL Assurance Malaysia Bhd will likely surpass the RM1 billion mark in new business sales this year, given the strong performance it recorded in the first nine months.
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Insurance News  -  13 Dec 2011  -  Public
AmTakaful will have RM100 mil in capital with AMMB and Friends Providend owning 70% and 30% respectively. http://bit.ly/vETqaC

AMMB, Friends invest in takaful venture
AMMB Holdings Bhd and Friends Provident Group Plc will invest RM100 million in their Islamic insurance joint venture, according to statement from Resolution Ltd, Friends Provident’s parent.
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Insurance News  -  13 Dec 2011  -  Public
Fitch believes that the outlook of insurance market in Malaysia is stable and will be driven by: a) Government measures; b) Low penetration rate; c) Improving product reach via banca and direct channels. Meanwhile investment-linked products will be affected by the volatility in stock market and the underwriting deficit from compulsory motor cover will constrain the profitability of the general insurers. http://bit.ly/tIX0EQ

HONG KONG, December 12 (Fitch) Fitch Ratings says in a new report that its Rating Outlook for Malaysia's insurance is Stable, supported by sound operating profitability, steady market growth and manag...
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Insurance News  -  13 Dec 2011  -  Public
European insurers such as Aviva, AXA and Allianz are at risk of having their credit ratings downgraded by S&P due to the rise in systemic stresses in the eurozone. http://bit.ly/snrZjl

Aviva, AXA and Allianz threatened by S&P downgrade. Aviva, AXA and Allianz are under threat of credit rating dow...
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Insurance News  -  13 Dec 2011  -  Public

The Malaysian AIDS Council is in talks with insurance companies to insure HIV/AIDS medical expenses. http://bit.ly/vMECc1

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Insurance News  -  13 Dec 2011  -  Public
Swiss Re's CEO Stefan Lippe has decided to step down in 2012 by taking early retirement after spending almost 30 years with Swiss Re.http://bit.ly/tK5l7E

Swiss Re CEO announces early retirement. Story link: Swiss Re CEO announces early retirement. by Richard Kilner. The Board of Directors of Swiss Re has announced that Stefan Lippe has decided to step ...
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Insurance News  -  12 Dec 2011  -  Public
The life insurance industry is expected to grow 10-15% in 2012. Drivers for the growth are: a) low penetration rate; b) various government projects and incentives. Products that are expected to do well: a) retirement-related products; b) medical; c) protection-related products. Great Eastern meanwhile projected a 15% growth next year for its combined conventional and takaful businesses with takaful outperforming conventional. Allianz spotted potential opportunities in general insurance business in the SME sector. http://bit.ly/vM46RW


PETALING JAYA: Despite the challenging economic environment, the life insurance industry is expected to chart new business premiums growth of between 10% and 15% next year. The Life Insurance Associat...

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