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Sunday, 9 September 2012

News Posts 20120903-20120909

Insurance News  8 Sep 201   -  Public
It is confirmed that Sanlam is eyeing 49% equity stake in P&O. BNM has granted approval for the preliminary negotiations to proceed.
KUALA LUMPUR: Pacific & Orient Bhd has obtained approval
from Bank Negara Malaysia to begin preliminary negotiations for the proposed divestment of its equity interest in Pacific & Orient Insurance Co Bhd. 

Insurance News 7 Sep 2012  -  Public
PruBSN's market share hit 29.1%, according to its CEO. The company would focus on product innovation, meeting customers' needs and building wide distribution network to stay as No. 1.
KUALA LUMPUR: Prudential BSN Takaful (PruBSN) intends to
maintain its position as the number one takaful operator in Malaysia this year, said its chief executive officer, Azim K. Mithani.

Insurance News 6 Sep 2012  -  Public
Maybank launched 2 retirement products: 1) Smart Retirement - RP endowment (20 or 30-year term) with guaranteed yearly cash payout. 2) Golden Retirement - SP investment-linked plan with 10 years guaranteed payout, each payout is 11% of SP.
Malayan Banking Bhd has launched two new retirement plans, tapping into a growing market segment and targeting to garner some RM250mil in premiums in the first year.

Insurance News 5 Sep 2012  -  Public

Buyers of ING's Asian units are asked to to acquire part of the Japanese unit together with the Southeast Asian and HK business, according to an unconfirmed source.
ING Groep NV, facing a regulatory deadline to sell its insurance business, is pressing prospective buyers of operations in Southeast Asia and Hong Kong to also acquire part of its Japanese unit, three people with knowledge of the matter said.

Insurance News 4 Sep 2012  -  Public
Great Eastern pointed out that the picketing yesterday was by a small group of its 17,000 agents and did not represent the majority. Most outstanding agency issues had been addressed through bilateral dialogues and the company had to balance the interests of shareholders, policyholders, agents and other interested parties in its decision.

Insurance News 4 Sep 2012  -  Public

The picketing in Miri requested the removal of the CEO of Great Eastern.
MIRI: Twenty- four life insurance agents led by Great Eastern Life Field Force and Agents Association of Malaysia (Gelfaam) Miri chairlady Tan Ah Choo (in a picket in front of the Great Eastern Life A...

Insurance News 4 Sep 2012  -  Public

Great Eastern's agents held peaceful picketing at 15 locations in the country yesterday requesting management to resolve outstanding issues in the agency contract and to treat agents as business partners and not as employees.


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