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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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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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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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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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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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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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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