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Sunday, 23 September 2012

News Posts 20120917-20120923

Insurance News   23 Sep 2012   -  Public
BNM is considering giving more flexibility to insurance companies to set their own commission levels. The liberalisation of commissions will also be accompanied by more transparency (commission disclosure?) to protect the policyholders. BNM is also evaluating measures including incentives to encourage more agents to become financial advisors.

Insurance News   22 Sep 2012   -  Public

Prudential is likely to appoint Philip Seah as its new CEO, replacing Charlie Oropeza who stepped down on 12/9. Seah's appointment is apparently pending approval from BNM.
KUALA LUMPUR: Prudential Assurance Malaysia Bhd is expected to appoint Philip Seah, former head of Prudential group's unit in Singapore, as it new chief executive officer.

Insurance News  21 Sep 2012  -  Public
Is it true that GETSB's CEO is quitting this month? Where is he going then?
KUALA LUMPUR: Great Eastern Takaful Sdn Bhd's chief executive officer Mohamad Salihuddin Ahmad is quitting the company he helped set up in 2010.

Insurance News  20 Sep 2012  -  Public
GETSB has called for a special tax relief for takaful contributions, on top of the existing combined EPF and life insurance tax relief of RM6,000.  Meanwhile an independent financial advisor has also called for the tax relief for retirement contribution to be increased from RM3,000 to RM10,000. Feel free to share with us your wish list for the upcoming Budget 2013.
KUALA LUMPUR (Sept 20): Takaful operators would like to see the government allocate a specific tax rebate for Takaful premiums in a bid to boost the industry in the upcoming Budget 2013, said Great Eastern Takaful chief executive officer Mohamed Salihuddin Ahmad.

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