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Sunday, 15 July 2012

News Posts 20120709-20120715


Insurance News 13 Jul 2012  -  Public
Allianz General has enhanced its Travel Care plan which includes cover for the insured's home, belongings and pets while they travel.  http://bit.ly/TAS0713c
Allianz unveils travel care plan »
Allianz General Insurance Co (Malaysia) Bhd (Allianz General) has introduced the enhanced Allianz Travel Care insurance plan offering added protection for individuals, families, their belongings and their home while travelling. 
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Insurance News 13 Jul 2012  -  Public
Mark Wilson, the former chief of AIA Group, is leading a consortium in the bid for ING's Asia insurance unit. He faces competition from AIA, Manulife and Dai-ichi. http://bit.ly/TAS0713b
NEW YORK: Global private equity fund Blackstone Group LP is backing Mark Wilson, the former chief of AIA Group Ltd, in the bidding for ING Groep NV’s Asia insurance unit, a source directly familiar wi...
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Insurance News 12 Jul 2012  -  Public
AIG will invest RM89.6 mil in AIG Global Services Sdn Bhd (an information infrastructure service provider that provides support to AIG companies worldwide) and Chartis Technology and Operations Management (a shared service centre for insurance and financial services and operations management).http://bit.ly/TAS0712b
 
KUALA LUMPUR: American International Group (AIG) will invest RM89.6 million to expand its Malaysian operations to provide support services for its businesses worldwide.
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Insurance News 12 Jul 2012  -  Public
ACE Jerneh has appointed Steve Crouch as the new Country President for Malaysia. http://bit.ly/TAS0712a
ACE Jerneh gets new Country President »
ACE Jerneh Bhd (ACE Jerneh), part of the leading global insurance and reinsurance group, ACE Group of Companies, today announced the appointment of Steve Crouch as its new Country President with immediate effect. 
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Insurance News 11 Jul 2012  -  Public
GIC Re of India will open a branch office in KL. It currently operates out of Labuan and with KL office functioning only as a marketing office.http://bit.ly/TAS0711a
General Reinsurance of India to open KL branch »
THE General Reinsurance of India (GIC Re), the national reinsurer of India, will open its Kuala Lumpur branch office tomorrow.
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Insurance News 9 Jul 2012  -  Public
LPI's Q2 2012 results (vs Q2 2011):- PAT: RM40.43 mil (RM31.42 mil); Revenue: RM265.03 mil (RM213.79 mil). LPI will continue to focus on growing its core underwriting business and preferred risks. The industry is expected to see intense competition with further rate erosion. http://bit.ly/TAS0709b
LPI Capital Bhd kicked off the March-June earnings season, with net profit up 28.6% to RM40.43mil from RM31.42mil a year ago due to its focus on risk selection and its diversified business model.
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Insurance News 9 Jul 2012  -  Public
Prudential, Manulife, AIA and Sun Life have apparently been short-listed into the 2nd stage of bidding for a stake in CIMB Aviva. It was reported that there were 10 suitors in the 1st round. http://bit.ly/TAS0709a
SINGAPORE/HONG KONG: Four potential buyers, including Prudential Plc and Manulife, have made it through to a second stage of bidding for Aviva's insurance business in Malaysia in a deal worth about US...

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