Insurance News 14 Oct
2012 - Public
So what will happen to car insurance if you own one of these
driverless cars? Would the car manufacturer take up the insurance instead
of you because if there is an accident, it is no longer you that are at fault
as you are a mere passenger. http://bit.ly/TAS1014a
Lloyds is questioning whether driverless cars will shift the need
for insurance away from consumers and towards manufacturers. Autonomous, or
driverless, cars navigate using sophisticated technologies...
More news on AIA ING merger, including: 1) Second largest
bancassurer post merger; 2) No 1 in market share is as measured by total
premiums (including in-force block?); 3) "Will take the best from both sides"
"too early to consider retrenchment" "natural attrition would
not be surprising" "reassure our colleagues from ING that whatever we
do will be fair and transparent".http://bit.ly/TAS1012d http://bit.ly/TAS1012e
The purchase of ING by AIA does not affect AIA's ratings,
according to S&P.http://bit.ly/TAS1012c
Standard & Poor's Ratings Services said today that its ratings
and outlook on American International Assurance Co. Ltd. (AIA; local currency
AA-/Stable/--; cnAAA/--) and American International...
Tune Insurance, previously named Oriental Capital Assurance and
for which 80% of its stake was bought for RM151.91 mil, is slated for listing
next year with an estimated market capitalisation of close to RM800 mil.http://bit.ly/TAS1012b
BUSAN: The initial public offering (IPO) fervour surrounding
maverick businessman Tan Sri Tony Fernandes continues – now he is considering
to float the Tune Group.
AmG
wants to keep Kurnia's brand post merger. The plan is for both AmG and
Kurnia to be under AmG's licence. It would be interesting to see whether
this is allowed by BNM as this will create the first insurance company in
Malaysia that sells products under two different brands. http://bit.ly/TAS1012a
The plan will possibly see Kurnia surrender its insurance licence
and operate under AmG's operating licence.
AmG held a special event to welcome Kurnia into its family.
Post merger, AmG will become the largest general insurer in the country
and market leader in motor insurance. http://bit.ly/TAS1011f
Ambank Group is eyeing 50 per cent growth for its motor insurance
from 22 per cent currently, said Duncan Brain, Chief
Executive Officer AmG Insurance Bhd and Kurnia Insurans (M) Bhd.
Executive Officer AmG Insurance Bhd and Kurnia Insurans (M) Bhd.
It is interesting to see what would happen to ING Public Takaful
Ehsan post AIA-ING merger. AIA already has a stake in AIA AFG Takaful and under
the current BNM rules, they are not allowed to hold 2 takaful licences. Merging
AIA AFG with ING Public will mean Public Bank and Alliance Bank having JV in
takaful, feasible?
Contrary to the earlier report, AIA has claimed No. 1 in market
share post merger with ING, unseating Great Eastern as well. http://bit.ly/TAS1011d
The deal catapults AIA to the top, displacing Great Eastern that
has market share of 22.9%.
AIA has agreed to pay US$1.73 bil (another report says US$1.68
bil) in cash to buy ING's Malaysian insurance operations. The deal values ING
at 1.8 times its embedded value, much higher than the value of AIA which is at
1.5 times. The purchase of ING will push AIA from the No. 4 position to No. 2
in Malaysia, unseating Prudential. AIA had earlier acquired Aviva's Sri Lankan
operations less than a month ago. http://bit.ly/TAS1011b http://bit.ly/TAS1011c
AMSTERDAM: ING said it has agreed to sell its Malaysian insurance
unit to pan-Asian insurer AIA Group Ltd for 1.3 billion euros (US$1.68 billion)
in cash, kicking off the Dutch group's long-awaited di...
George Chew is Manulife's new CEO effective September 28.http://bit.ly/TAS1009a
KUALA LUMPUR: Manulife Insurance Bhd (Manulife Malaysia), a
subsidiary of Manulife Holdings Bhd, has appointed George Chew as its new chief
executive officer (CEO), effective September 28.
So, is it true that Mohamad Salihuddin Ahmad stepped down as CEO
of GETSB because he didn't want to report to Koh Yaw Hui? http://bit.ly/TAS1008a
Malaysia: Great Eastern Takaful CEO steps down amid structural
changes. Great Eastern Takaful CEO Mohamad Salihuddin Ahmad has resigned from
his position, with local media suggesting that it was in ...
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