What this blog is about?

Purpose: This blog provides brief insurance news and digest for the busy executives. It is a handy archive covering major insurance news in Malaysia and nearby countries. 

Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we are not liable for any loss arising from the use of any information contained in this blog.

Reproduction: You may reproduce materials published here provided that the source (actuaries.com.my/insurance-news) is properly acknowledged.

Aviva Asia appoints Khor Hock Seng CEO 

Insurance News

  -  Jan 29, 2013
The former AIA's CEO in Malaysia, Khor Hock Seng, has been appointed the CEO of Aviva Asia. He will take on his new role on 8 March and will be based in Singapore.
Aviva brings on board former AIA exec Khor as new Aviva Asia CEO - International AdviserAviva has appointed former AIA Malaysia managing director Khor Hock Seng as chief executive of Aviva Asia.

 

Posted by Loo Hai Tuesday, January 29, 2013 6:38:00 PM Categories: AIA Aviva Executive Movement
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Prudential appoints new chief agency officer 

Insurance News

  -  Jan 28, 2013
Prudential has appointed Chai Koh Min as its new chief agency officer effective 7 January 2013. Chai was previously with ING.
Prudential's new chief agency officer - Business TimesKUALA LUMPUR: Prudential Assurance Malaysia Bhd (PAMB) has appointed Chai Koh Min as its new chief agency officer effective January 7, 2013.

 

Posted by Loo Hai Monday, January 28, 2013 6:08:00 PM Categories: Executive Movement Prudential
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OCC commission limits to be increased 

Insurance News

  -  Jan 24, 2013
The government is reviewing the OCC commission limits. The proposal is to increase the maximum commission rate for life insurance from 171% to 221% and for general insurance from 10% to 15%.
 
BNM is expected to submit its proposal to PM for approval next week.
 
Deputy Finance Minister Donald Lim said that if insurance companies could absorb the increase in costs due to the higher commissions, the insurance premiums would not be increased as a result.
 
Donald claimed that insurance companies were highly profitable and could afford to absorb the costs without passing on to consumers.
代理傭金將調整 - 人壽普險 - 保費醞釀調高 - Sin Chew Daily (雪蘭莪 八打靈再也23日訊)政府正在檢討1996年壽險營運開銷指南;其中包括調整人壽與普通險代理員的傭金,進而可能導致人壽與普險新保單的保費水漲船高。

 

Posted by Loo Hai Thursday, January 24, 2013 6:37:00 PM Categories: Commission
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Tune Ins to be listed 

Insurance News

  -  Jan 24, 2013
Tune Ins Holdings Bhd is raising RM222.2 mil through its IPO and is expected to list on 22/2/2013. It will have a minimum 40% dividend policy. The company is also eyeing small insurance companies overseas.
Tune Ins eyes RM222.2m from IPO - Business Times KUALA LUMPUR: Insurance product manager Tune Ins Holdings Bhd, which is en route for main board listing on Bursa Malaysia next month, will have a minimum 40 per cent dividend policy.

 

Posted by Loo Hai Thursday, January 24, 2013 6:17:00 PM Categories: Tune
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AIG and MyEG to offer insurance online 

Insurance News

  -  Jan 24, 2013
AIG has teamed up with MyEG to offer insurance products online. Currently 60% of AIG's revenue comes from its 3,000 agents, 20 to 22% through insurance brokers and the rest through corporate partners. AIG sees good growth in the liabilities sector and indemnity products while home insurance is deemed an area of growth.
AIG: ‘Rosy’ outlook for M'sian insurers - The Star KUALA LUMPUR: The outlook for the Malaysian insurance sector is very bright, according to AIG Malaysia Insurance Bhd chief executive officer Matt Harris. Reason? There is still much upside potential for certain products while the well-regulated environment provides solid growth.

 

Posted by Loo Hai Thursday, January 24, 2013 5:51:00 PM Categories: AIG Strategy
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Mark O'Dell is Manulife's Group CEO 

Insurance News

  -  Jan 24, 2013
Manulife Holdings Berhad has appointed Mark Steven O'Dell as its Director and CEO. Mark joined Manulife Taiwan in 2008 and has over 32 years of experience in life insurance, including 18 years in Asia.

 

Posted by Loo Hai Thursday, January 24, 2013 5:35:00 PM Categories: Executive Movement Manulife
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ACE Jerneh launches ADT Advantage 

Insurance News

  -  Jan 22, 2013
ACE Jerneh has launched ADT Advantage, an insurance plan that provides a lump sum of up to RM10,000 in the event of a loss occurred in a property or the property becomes unfit for occupancy due to physical damage as a result of burglary.
ACE Jerneh and ADT in security solution tie-up - The Star KUALA LUMPUR: Ace Jerneh Insurance Bhd and US-based ADT have entered into a strategic partnership agreement to offer ADT Advantage, a value-added security solution with insurance protection for residential and commercial customers in Malaysia.

 

Posted by Loo Hai Tuesday, January 22, 2013 9:30:00 PM Categories: ACE Jerneh Product
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