Nicholas Kua is the new CMO for
Great Eastern Life. Nicholas was previously with Axa Affin Life. http://bit.ly/TAS0522a
Great Eastern Life Assurance
(Malaysia) Bhd has appointed Nicholas Kua as its new Chief Marketing Officer.
Monday, 28 May 2012
Sunday, 20 May 2012
News Posts 20120514-20120520
Allianz targets to grow its gross
written premiums in life and general by 15% this year to RM3 bil. The growth
would be driven by product innovation and Allianz's wide distribution base. http://bit.ly/TAS0519b
KUALA LUMPUR (Bernama): Allianz
Malaysia Bhd is aiming for a 15% growth to RM3bil this year from RM2.6bil in
2011 for gross written premiums in its life and general insurance segments.
-----------------------------------------------------------------------------------------------------
Potential first-round bidders for
ING's Asia insurance business are Manulife, Metlife, Prudential Financial Corp,
AIA, South Korea's KB Financial Group, Korea Life, Sun Life, Zurich and
Generali. Samsung Life has however pulled out last minute. ING has prohibited
bidders from forming consortium in the 1st round however in 2nd round this is
allowed. ING is expected to announce by end of May the successful 1st round
bidders. http://reut.rs/TAS0519a
HONG KONG (Reuters) - Global insurers
Manulife Financial Corp , Metlife and Prudential Financial Corp are among
suitors expected to place first-round bids on Friday
-----------------------------------------------------------------------------------------------------
HLM Takaful has appointed Mohd Fauzi
Yaakub as its new CEO. http://bit.ly/TAS0517b
Hong Leong MSIG Takaful Bhd (HLM
Takaful) has appointed Mohd Fauzi Yaakub as its new Chief Executive Officer
(CEO) effective May 15, 2012.
-----------------------------------------------------------------------------------------------------
The Deputy Finance Minister Donald
Lim has succeeded in obtaining the approval from the government to allow ING to
compensate it's agents following the pending insurance unit sell-off exercise.
The compensation amount would be negotiated between ING and INGIAFAM. http://bit.ly/TAS0515a
（彭亨‧雲頂高原14日訊）在財政部副部長拿督林祥才介入協調下，大馬ING保險公司代理員要求該公司脫售大馬業務時付賠償金給代理員，終獲得批准。 林祥才日前在ING保險代理員公會30週年紀念聯歡晚宴宣佈，經他向首相兼財政部長反映實況後，終獲首相首肯，即時批准上述要求。 他也親自把國行的批准信，轉交給ING保險代理員 ...
Sunday, 13 May 2012
News Posts 20120507-20120513
Prudential has launched Project
Listen in celebrating its 88th anniversary.http://bit.ly/TAS0512a
PRUDENTIAL Assurance Malaysia Bhd
(PAMB) has kicked off its 88th anniversary celebration by lending its ears to
fellow Malaysians in Project Listen as a tribute to Malaysians for inspiring 88
y...
-----------------------------------------------------------------------------------------------------
Reuters reported that Aviva planned
to sell the 49% stake in CIMB Aviva. The Wall Street Journal further reported
that Aviva had hired Morgan Stanley to help with the sale deal. Both CIMB and
Aviva however declined comment. CIMB could have the right of first refusal
should the stake be made available for sale.http://bit.ly/KePA9R
KUALA LUMPUR: Britain’s
second-largest insurer Aviva plc’s sale of its Malaysian life-insurance
business could offer a buying opportunity for its competitors looking for a
slice of the industry pie h...
-----------------------------------------------------------------------------------------------------
Sales in Asia has helped to propel
Prudential UK Q1 sales to a 9% growth. The growth rates for the 3 key markets
were: Asia (21%), US (3%) and UK (-5%).http://bit.ly/TAS0510c
LONDON: Prudential plc, the UK's
biggest insurer by market value, said first-quarter sales rose 9 per cent,
driven by health and protection products in Asia.
-----------------------------------------------------------------------------------------------------
Prudential is confident in
outperforming the estimated industry growth of 7-10% this year. The CEO
attributed the expected out performance to: a) strong and strategic partnership
on bancassurance; b) healthy and quality agency recruitment; c) more innovation
and expansion. http://bit.ly/TAS0510b
KUALA LUMPUR: Prudential Assurance
Malaysia Bhd (PAMB) is upbeat over outperforming the 7%-10% average industry
growth this year, compared with the 8% new business sales annual premium
equivalent (APE...
-----------------------------------------------------------------------------------------------------
The PIDM's funds at at 31 Dec 2011
amounted to: (i) general insurance: RM948 mil; (ii) life insurance: RM36.7 mil;
(iii) general takaful: RM2.1 mil; (iv) family takaful: RM4.4 mil. http://bit.ly/TAS0508a
NATIONAL deposit insurer Malaysia
Deposit Insurance Corporation (PIDM) reported a RM226.8 million revenue for the
financial year ended December 31 2011.
-----------------------------------------------------------------------------------------------------
Allianz General is counting on its
consistency of policy issuance and timely payment of claims to give itself
competitive edge. For 2012, it targets gross written premiums of RM1.65 bil to
RM1.7 bil, up from RM1.46 bil last year. The company is also adding
telemarketing as a new distribution channel. Actuaries' involvement in risk
management is seen to be limited by the severe shortage of qualified and
experienced GI actuaries. http://bit.ly/TAS0507a
KUALA LUMPUR: Allianz General
Insurance Company (M) Bhd (AGIC), which is targeting gross written premiums of
RM1.65bil to RM1.7bil this year, is unperturbed by the proposed merger of
Kurnia Insurans
News Posts 20120430-20120506
Great Eastern launched its latest
endowment plan - The Great Treasure Wonder, and projected RM100 mil sales. The
plan provides 20 or 25 years protection, with 5-year limited premium payment
and pays survival benefits every 6 months. The product is available for a
limited period - until RM100 mil is achieved or until July 2, whichever comes
first. http://bit.ly/TAS0505b
KUALA LUMPUR: Great Eastern Life
Assurance (Malaysia) Bhd is projecting RM100 million premium income from its
latest endowment plan, The Great Treasure Wonder.
-----------------------------------------------------------------------------------------------------
Bruce Hodges has been appointed
executive director and CEO of ING effective 30/4/2012. http://bit.ly/TAS0504b
KUALA LUMPUR (May 4): ING Insurance
Bhd has appointed Bruce Hodges as its executive director and chief executive
officer, effective April 30.
-----------------------------------------------------------------------------------------------------
STMB predicts that once the RBC is
implemented for takaful operators after end-2013, consolidation will be likely
in the takaful industry. STMB will then start exploring M&A by acquiring
weaker players. http://bit.ly/TAS0503a
Syarikat Takaful Malaysia Bhd will
consider mergers and acquisitions to grow its market share if it finds suitable
partners for the exercises.
-----------------------------------------------------------------------------------------------------
ING Agency Force Association urged
BNM to approve a compensation by ING Malaysia to the agents. The compensation
is equivalent to 10% of the sales proceeds and to be paid from shareholders'
fund. http://bit.ly/TAS0502a
ING Insurance Agency Force
Association Malaysia (INGIAFAM) today staged a peaceful gathering here, urging Bank
Negara to approve ING Malaysia's proposal for a fair compensation for the
agency force from the ING Groep NV's (ING) Asian units sell-off exercise.
-----------------------------------------------------------------------------------------------------
STMB, currently ranks 2nd out of 11
takaful operators, aims to recapture the top position within the next 3 to 5
years. The company recently launched Takaful myGenLife, a comprehensive
investment-linked product and targets to collect RM20 mil contributions. http://bit.ly/TAS0501a
KUALA LUMPUR: Syarikat Takaful Malaysia
Bhd is eyeing to emerge as the top market leader in the takaful market over the
next three to five years through an aggressive rebranding campaign.
-----------------------------------------------------------------------------------------------------
A special insurance scheme would be
offered to fishermen. The scheme was approved by the Cabinet and an open tender
was called for to select the insurer. The premium for the scheme is RM100 per
year. http://bit.ly/TAS0430d
PORT KLANG: Agro-based and
Agriculture Industry Minister Datuk Seri Noh Omar has urged fishermen to be
patient over a special insurance scheme that would be offered to them soon.
-----------------------------------------------------------------------------------------------------
Prudential's combined conventional
and takaful annual premium equivalent sales hit RM1.107 bil in 2011, an 8%
improvement over the year before. It recruited 4,500 agents last year. Agency
and bancassurance business mix was 91%:9%.http://bit.ly/TAS0430c
KUALA LUMPUR (April 30): Prudential
Assurance Malaysia Berhad (PAMB) surpassed the RM1 billion mark for the second
year in a row after closing RM1.107 billion in total new business Annual
Premium Equivalent (APE) sales which comprised both life insurance and Takaful
contributions for the financial year 2011, posting an 8% increase from its
performance of RM1.021 billion in 2010.
-----------------------------------------------------------------------------------------------------
P&O has further improved its loss
ratio in 2011 to 59.3%, from 65.7% in 2010 and 72.4% in 2009. It enhanced its
underwriting margin by shifting its premium mix away from motor insurance. http://bit.ly/TAS0430b
Fitch Ratings has affirmed Pacific
& Orient Insurance Co. Bhd's Insurer Financial Strength Rating (IFS) at
'BBB' while the outlook is stable.
-----------------------------------------------------------------------------------------------------
The new name for MAA is Zurich
Insurance Malaysia Bhd.http://bit.ly/TAS0430a
Zurich Insurance Group renamed
Malaysian Assurance Alliance Bhd (MAA Assurance) to Zurich Insurance Malaysia
Bhd effective today.
Wednesday, 2 May 2012
News Posts 20120423-20120429
Insurance News 27 Apr
2012 - Public
Tune Money is interested in acquiring
foreign-based insurance companies. It recently proposed to acquire OCA for
RM157 mil. It is also looking to start an undisclosed line of business and is
waiting for approval from BNM.http://bit.ly/TAS0427a
Tune Money keen to buy foreign insurance firms »
Tune Money keen to buy foreign insurance firms »
KUALA LUMPUR: Tune Money Sdn Bhd, the
financial services arm of the Tune Group, plans to acquire foreign-based
insurance companies and is in discussions with several parties now, its chief
said.
-----------------------------------------------------------------------------------------------------
LIAM has applied to MyCC to be
exempted from complying with the Competition Act 2010. MyCC has yet to arrive
at a decision on whether the exemption is justified. Under the Competition Act,
there are 4 criteria that must be met to earn an exemption. http://bit.ly/TAS0426b
PETALING JAYA: Four parties from the
logistics, insurance, and food industries have applied to the Malaysia
Competition Commission (MyCC) to be exempted from complying with the
Competition Act 2010.
-----------------------------------------------------------------------------------------------------
MCA will provide insurance coverage
to its members, which provides RM4,000 for funeral expenses, permanent/partial
disability and accidental death. Does anyone know which insurance company
underwrites the scheme?http://bit.ly/TAS0426a
KUALA LUMPUR: The MCA will provide
insurance coverage to its members following requests from them.
-----------------------------------------------------------------------------------------------------
Takaful Ikhlas' plan for the year: a)
Increase the number of agents from 4,000 to 5,000; b) Allocate 5% of payroll
for training purposes; c) Invest RM5 mil over the next 2 years to develop cloud
computing systems; d) Launch a new group health and medical product. http://bit.ly/TAS0425a
By Norshafawati Ab Wahab KOTA
KINABALU, April 25 (Bernama) -- Takaful Ikhlas Sdn Bhd plans to increase the
number of agents to 5000 this year from 4000 previously. President/CEO Datuk
Syed Moheeb Syed...
-----------------------------------------------------------------------------------------------------
STMB has embarked on a "We
Should Talk" campaign, an aggressive effort to engage and connect with its
potential clients and investors.http://bit.ly/TAS0424b
Takaful Malaysia listed as OSK top 5 »
Takaful Malaysia listed as OSK top 5 »
Syarikat Takaful Malaysia Bhd
(Takaful Malaysia), was listed among the top five companies in the 2012 edition
of OSK Top Malaysia Small Cap Companies - 30 Jewels, launched today.
-----------------------------------------------------------------------------------------------------
Takaful Ikhlas targets to increase
contributions from non-Muslim customers to RM8 mil in 2012 from RM1 mil last
year. To achieve this, it intends to recruit 200 non-Muslim agents, up from 50
currently. http://bit.ly/TAS0423a
Takafu lkhlas eyes non-Muslims segment »
Takafu lkhlas eyes non-Muslims segment »
Takaful Ikhlas Sdn Bhd expects gross
contributions from non-Muslims to increase to RM8 million this year from RM1
million previously.
Subscribe to:
Posts (Atom)
Posts
