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Saturday, 23 June 2012

News Posts 20120611-20120617


Insurance News 14 Jun 2012  -  Public
STMB is close to concluding a property deal in UK. It will also set up an SPV in IOFC to hold its overseas property investment. http://bit.ly/TAS0614c
Syarikat Takaful Malaysia Bhd is close to concluding an overseas investment deal specifically in the UK property market which would mark its foray into overseas property investments.
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Insurance News 14 Jun 2012  -  Public
MARC expects both life and general insurance industries to perform well in the next few years. For GI, workmen's compensation, employers' liability, contractors' all risks and engineering are expected to do well with the upcoming mega projects. http://bit.ly/TAS0614b
KUALA LUMPUR: The Malaysian insurance industry is expected to remain encouraging for both life and general insurance going forward, despite moderating economic growth, Malaysia Rating Corp Bhd (MARC) ...
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Insurance News 14 Jun 2012  -  Public
Zurich aims to move into the top 5 position within the next 3-5 years from its current 8th position. It will adopt multi-channel strategy and plans to forge bancassurance partnerships with the leading banks. http://bit.ly/TAS0614a
ZURICH Insurance Malaysia Bhd aspires to break into the top five in the insurance market in the next three to five years, said its top executive.
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Insurance News 13 Jun 2012  -  Public
Ernst & Young identified strong competition, evolving regulations and a shortage of takaful expertise as the key risks in both the GCC and South East Asia takaful markets. http://bit.ly/TAS0613b
KUALA LUMPUR (June 13): Malaysia's contribution to the global Takaful industry is expected to increase to US$2.4 billion (RM7.64 billion) this year from US$1.4 billion in 2011.
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Insurance News 13 Jun 2012  -  Public
Under the new financial services legislation, the boards would need to have regard to the interest of policyholders, the long-term viability of the insurance companies and to have in place reasonable standards for fair dealings. Board-level engagements on risk issues must also be strengthened further.http://bit.ly/TAS0613a
The new financial services legislation, which will increase the general duties and responsibilities of the board of financial institutions, will be tabled in the current Parliament sitting, says Bank ...
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Insurance News 11 Jun 2012  -  Public
The net contribution for family takaful increased at a compound rate of 20% p.a. between 2007-11. The net contribution is expected to further increase by RM3 bil in the next 2-3 years from RM4.2 bil currently. Malaysia is the largest and most mature family takaful market with 73% of the total global contribution.http://bit.ly/TAS0611b
KUALA LUMPUR (June 11): Malaysia's market size in total net contribution for the family takaful business is expected to grow by another RM3 billion in the next two to three years from RM4.2 billion at present.
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Insurance News 11 Jun 2012  -  Public
LIAM's President (not CEO as reported by The Star) opines that Malaysians still do not save enough for retirement and children's education.  Educating the public on the importance of life insurance is not easy due to the broadness of the market. He also projects a growth rate of 10-12% this year, up from the previously quoted figure of 7-10%. http://bit.ly/TAS0611a
PETALING JAYA: A lot more can be done to educate the public about the benefits of having life insurance, said Life Insurance Association of Malaysia (LIAM) chief executive officer Vincent Kwo Shih Kan...

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