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Monday, 20 February 2012

News Posts 20120213-20120219

Insurance News  -  18 Feb 2012  -  Public
The global bleak economic scenario has resulted in increase in the demand of trade credit insurance. The cost of such insurance is however considered high by smaller exporting SMEs.http://bit.ly/zSuBSL


THE demand for trade credit insurance among Malaysian exporters, including the small and medium enterprises (SMEs), to protect for non-payment by overseas buyers have risen significantly amid the glob...
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Insurance News  -  18 Feb 2012  -  Public
The Foreign Workers Health Insurance Protection Scheme will be made compulsory by June 2012 for all foreign workers including domestic helpers and estate workers. Currently there are 25 insurance companies involved in the scheme with 1.4 mil policies sold. The premium is RM120 per policy per year. http://bit.ly/zK2WMa

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Insurance News  -  17 Feb 2012  -  Public
The 6 insurers on MATTA's panel to provide mandatory travel insurance are: Ace Jerneh, Chartis, HLMT, Kurnia, Lonpac and RHB. http://bit.ly/zISYs1

KUALA LUMPUR: The Malaysian Association of Tour and Travel Agents (MATTA) will im­­pose mandatory travel insurance on all its members starting March 1.
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Insurance News  -  17 Feb 2012  -  Public
Great Eastern Takaful launched an new takaful education plan named i-Great Iqra. Targeted contribution is RM15 mil with 7,000 to 8,000 participants in 1st year. http://bit.ly/ACzr3s

Great Eastern Takaful Sdn Bhd upbeat on new product
KUALA LUMPUR: Great Eastern Takaful Sdn Bhd (GETSB) is targeting RM15 million contribution from its latest product, i-Great Iqra, in the first year.
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Insurance News  -  14 Feb 2012  -  Public
Great Eastern Holdings reported 24% lower profit in 2011 mainly due to unrealised mark-to-market losses in deteriorated investment climate. The Capital Adequacy Ratios (CAR) for both Singapore and Malaysia are however more than 200%, higher than the minimum regulatory requirements of 130% and 120% for Malaysia and Singapore respectively. http://bit.ly/ADyToD

Great Eastern Holdings Limited today reported profit attributable to shareholders of S$385.7 million for the financial year ended 31 December 2011, compared with S$507.2 million in 2010.
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Insurance News  -  14 Feb 2012  -  Public
PNB may sell MNRB as part of its divestment plan as announced by Government recently.http://bit.ly/wkhPL0

PETALING JAYA: Companies in the Permodalan Nasional Bhd (PNB) stable such as MNRB Holdings Bhd, Bonia Corp Bhd and Asia File Corp Bhd may be up for sale, industry observers say.
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Insurance News  -  13 Feb 2012  -  Public
Bruce Hodges is the new deputy CEO for ING. He will succeed Datuk Dr Nirmal Menon who has been appointed head of South Asia for ING Insurance Asia Pacific. Bruce came from Sun Life Hong Kong. http://bit.ly/wTjPOd

ING Insurance Bhd today appointed Bruce Hodges as deputy chief executive officer responsible for managing and growing ING Life Malaysia and ING's Takaful joint-venture operations in Malaysia.
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Insurance News  -  13 Feb 2012  -  Public
The US Prudential Financial Inc has apparently expressed interest in bidding for ING's Asian insurance operations. http://bit.ly/zp2p5T

SEOUL (Feb 13): Prudential Financial Inc , the No.2 U.S. life insurer, has hired Bank of America Merrill Lynch to advise on its possible bid for ING Groep NV's Asian insurance operations, South Korean media reported, in what is potentially Asia's second-biggest insurance sale ever.

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