Insurance News
1 Sep
2012 21:20 - Public
Great Eastern Life Singapore | Corporate News - Media Releases
2012Untitled DocumentUntitled DocumentGreat Eastern Media Release 1 Aug
2012Untitled DocumentGreat EasternUntitled Document »Sale
of 25% stake in China Joint Venture to Chongqing City Construction Investment
Group
Insurance News 28 Aug 2012 - Public
Insurance News 28 Aug 2012 - Public
With
the acquisition of Jerneh, ACE Jerneh aims to increase its agency business to
40% of its total business within 5 years. The company currently has 1,800
agents. It intends to adopt multi-product, multi-distribution strategy going
forward. http://bit.ly/TAS0901b
ACE Jerneh
Insurance Bhd expects its agency business to contribute about 40 per cent to
its total business in five years, its top executive said.
Oliver
Tan has been appointed Head of Kuala Lumpur branch and director of reinsurance
by Swiss Re. Oliver's areas of responsibility include Vietnam, Cambodia and
Laos. http://bit.ly/TAS0901a
KUALA
LUMPUR: Swiss Reinsurance Co Ltd (Swiss Re) has appointed Oliver Tan as its
head of Kuala Lumpur branch and director of reinsurance.
With the adoption of RBC framework for the takaful industry in
2014, there may be opportunities for Zurich to venture into takaful. The
company also thinks that the Malaysian takaful market alone is too small for
its liking but together with the Indonesian market, it would be different.
Meanwhile Zurich is still discussing with Koperasi on its exit plans with
regards to its stake in MCIS Zurich.http://bit.ly/TAS0831b
KUALA
LUMPUR: Zurich Financial Group Ltd (Zurich), Switzerland’s biggest insurer, has
not ruled out venturing into the takaful business in Malaysia.
Namlifa has called on BNM to review the OCC guidelines and
Replacement of Policy definition. http://bit.ly/TAS0831a
GENTING HIGHLANDS: Figures show that 65% of insurance agents earn
below RM20,000 per year.
ING may now split the auction of its Asian operations into more
pieces - 1) Japan; 2) South Korea; 3) Hong Kong; 4) Malaysia & Thailand.
The Malaysia & Thailand piece is facing complication as the regulators do
not allow 100% foreign ownership. http://bit.ly/TAS0830b
ING is
exploring a separate sale of its roughly US$1 billion (RM3.12 billion) Hong
Kong insurance business, sources said, a move that could further complicate the
auction of its Asian operations.
Zurich Insurance is keen to enter into Takaful market in Malaysia.http://bit.ly/TAS0830a
Zurich
launched 3 new products: 1) CondoPAC 2) ShopPAC & OfficePAC and 3) SmiPAC.
These are comprehensive insurance protection plans with 5-in-1 and 10-in-1
coverage. http://bit.ly/TAS0829a
THREE NEW
PRODUCTS: Its target is to achieve 5pc of the value for first year and 10pc for
second and third years
Great Eastern sold 25% of its stake in its China Joint Venture to
Chongqing City Construction Investment (Group) Co. Ltd. http://bit.ly/TAS0828e
Insurance News 28 Aug 2012 - Public
GE
Takaful, which currently ties up with OCBC and MBSB in bancatakaful, aims to
secure another 3 strategic tie-ups by 2015. Bancatakaful is expected to
contribute 20% of the new business for the operator. http://bit.ly/TAS0828c
KUALA LUMPUR: Great Eastern Takaful Sdn Bhd wants to have at least
five bancatakaful partnerships by 2015 in order to become one of the country's
top three takaful players.
Insurance News 28 Aug 2012 - Public
Etiqa's motor takaful won bronze for 'Best Digital Promotion
Marketing Campaign' and 'Best Use of the Internet in a Promotion Marketing
Campaign', and silver for 'Best Activity Generating Brand Volume' awards.http://bit.ly/TAS0828d
Etiqa's
Motor Takaful clinched three awards at the Promotion Marketing Awards of
Malaysia.
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