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Tuesday, 10 April 2012

News Posts 20120402-20120408


Insurance News  -  7 Apr 2012  -  Public
OSK Research puts a price tag of RM1.15 bil on Kurnia Insurans. The acquisition of Kurnia by AmG will make the latter the No. 1 general insurer in the country, up from the current 5th position. http://bit.ly/Hlkfwk
PETALING JAYA: AMMB Holdings Bhd’s proposed acquisition of Kurnia Asia Bhd subsidiary Kurnia Insurans (M) Bhd could make it the country’s largest general insurer, analysts said.
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Insurance News  -  7 Apr 2012  -  Public
Alliance Research has estimated that the price of 100% stake in Kurnia Insurans to be between RM963.9 mil and RM2.34 bil, a rather wide range. It further added that this estimate may not serve as a good pricing benchmark for Kurnia given its dominant position in the general insurance market in Malaysia. http://bit.ly/Hq4qpK
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AMMB move should boost earnings
AMMB announced that it had received the Finance Ministry’s approval, through Bank Negara, for the acquisition of a 100% equity interest in Kurnia Insurans.
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Insurance News  -  7 Apr 2012  -  Public
Participate in our Facebook survey:

Into which Private Retirement Scheme (PRS) would you invest to enjoy up to RM3,000 tax relief in 2012?

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Insurance News  -  7 Apr 2012  -  Public

PETALING JAYA: The emergence of intermediaries as providers of private retirement schemes (PRS) will provide contributors the flexibility to invest in a structured manner and boost retirement savings,...
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Insurance News  -  6 Apr 2012  -  Public
AIA, ING Funds, AmInvestment, Manulife Unit Trust, CIMB-Principal, Hwang, Public Mutual and RHB Investment Mgmt are the 8 PRS providers approved by SC. http://bit.ly/HimVLb
SC approves 8 private retirement scheme providers
KUALA LUMPUR: The Securities Commission (SC) has approved eight private retirement scheme (PRS) providers.
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Insurance News  -  5 Apr 2012  -  Public
AmG has received approval from Ministry of Finance on its proposed acquisition of 100% equity interest in Kurnia Insurans. The details of the proposed acquisition will be released subject to the signing of a definitive agreement between AmG and Kurnia Aisa. http://bit.ly/Hfn6eX

PETALING JAYA: The proposed sale of Kurnia Insurans (M) Bhd to AmG Insurance Bhd takes another step forward.
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Insurance News  -  2 Apr 2012  -  Public
MNRB expects its net profit to be lower this year in view of the impact of the Thailand flood loss but the losses are manageable. It also will not pull out of the Thai market. http://bit.ly/HeWch2
Malaysia Reinsurance Bhd is currently assessing losses arising from the recent floods in Thailand but the reinsurer does not expect it to have a negative impact on earnings.

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Insurance News  -  2 Apr 2012  -  Public
DRB-Hicom may sell its 51% and 34.7% stakes in Uni.Asia Life and Uni.Asia General respectively. UOB which owns the rest of the 2 companies may also sell its stakes. http://bit.ly/HakpfE
DRB-Hicom may sell Uni.Asia stake
Billionaire Syed Mokhtar Al-Bukhary’s DRB-Hicom Bhd may sell its stakes in Uni.Asia Life Assurance Bhd and Uni.Asia General Insurance Bhd, three people with knowledge of the matter said.
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Insurance News  -  2 Apr 2012  -  Public
OSK Research values Takaful Malaysia's shares at RM4.42, being 10 times the FY2013 earnings.http://bit.ly/HDiF9K
IN view of the industry’s positive macro outlook, the large Muslim population in Malaysia and Indonesia as well as the company’s cheap valuation, stable dividend payout and strong balance sheet, we ar...
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Insurance News  -  2 Apr 2012  -  Public
AIA is optimistic of achieving stronger growth citing factors: a) Under-insured protection market; b) Its 1.2 mil strong customer base; c) Low insurance penetration rate. Meanwhile AIA-AFG Takaful sold more than 6,000 cases in its 1st 10 months of operations. http://bit.ly/HOOnA2

KUALA LUMPUR: American International Assurance Bhd (AIA Malaysia), which posted RM483mil in annualised new premiums last year, is confident of achieving stronger growth on the back of its 1.2 million ...
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Insurance News  -  2 Apr 2012  -  Public
PruBSN's performance in 2011:- a) 41% increase in pre-tax profit; b) 32% growth in gross contributions; c) 39% increase in assets under management; d) 29% ACE market share.http://bit.ly/HeTDeU
PruBSN pre-tax profit up 41pc
Prudential BSN Takaful (PruBSN) has reported a 41 per cent increase in pre-tax profit to RM19.7 million in 2011 from RM13.9 million a year ago.

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