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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. 

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New framework could result in increase in agent commissions? 

Insurance News

  -  November 12, 2013
The proposed Life Insurance and Family Takaful Framework is expected to make insurance products more affordable and hence increase insurance penetration rate. RHB Research opines that after a certain period of adjustment there could be an increase in agent commissions. Do you agree?
Liberalisation of insurance industry expected to benefit both companies and consumers - The Star PETALING JAYA: Bank Negara’s proposed Life Insurance and Family Takaful Framework is expected to have a positive net impact on both insurance companies’ bottomlines and consumers.

 

Posted by Loo Hai Tuesday, November 12, 2013 9:16:00 PM Categories: BNM Commission Regulations
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Etiqa expects modest sale from Elitelink 

Insurance News

  -  November 11, 2013
Etiqa expects RM2 mil sale of its newly launched regular premium investment-linked plan, Elitelink, from the northern region in the next 8 months.
Etiqa expects RM2mil new business premiums - Business Times GEORGE TOWN: Etiqa Insurance and Takaful expects new business premiums of RM2 million from newly launched Elitelink, its first regular premium investment-linked plan.

 

Posted by Loo Hai Monday, November 11, 2013 9:12:00 PM Categories: Etiqa Product
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English daily started story on Life Insurance and Family Takaful Framework concept paper 

Insurance News

  -  November 11, 2013
The English daily starts picking up the story on BNM's concept paper on Life Insurance and Family Takaful Framework.
BNM seeks feedback on life insurance, family takaful framework - The Sun Daily PETALING JAYA (Nov 11, 2013): Bank Negara Malaysia (BNM) has launched a concept paper on the introduction of a framework that seeks to provide life insurers and family takaful operators greater operational flexibility to spur innovation and higher productivity, for public consultation.

 

Posted by Loo Hai Monday, November 11, 2013 9:04:00 PM Categories: BNM Regulations
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BNM proposes to revamp distribution framework 

Insurance News

  -  November 8, 2013
The concept paper issued by BNM on "Life Insurance & Takaful Framework" is a major revamp of the OCC guidelines issued back in 1996. The implications are far reaching, covering agency remuneration limits, commission disclosure, availability of protection products without involvement of intermediaries, reducing the dominance of agency channel, enhancing consumer protection etc. What is your immediate reaction to the proposals in the concept paper? Glad, sad, motivated, demotivated, lost, etc?
Life Insurance and Family Takaful Framework - Concept Paper - BNM This concept paper sets out proposals that will support the long-term sustainable growth and development of the life insurance and family takaful industry with increased value proposition to consumers.

 

Posted by Loo Hai Friday, November 8, 2013 6:45:00 PM Categories: Bancassurance BNM Commission Financial Adviser Product Regulations
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AFA proposes relaxation on financial advisers 

Insurance News

  -  November 1, 2013
The AFA proposes relaxation on the entry requirement to qualify as a financial adviser representative. Instead of focusing on holding a degree with financial subjects, it wants to enlarge to include those with related financial qualifications.
Financial advisers want BNM, SC to ease entry qualifications - The Sun Daily PETALING JAYA (Oct 31, 2013): The Association of Financial Advisers (AFA) wants Bank Negara Malaysia (BNM) and the Securities Commission (SC) to ease the strict entry qualifications for financial advisers to encourage more people to join the profession.

 

Posted by Loo Hai Friday, November 1, 2013 6:40:00 PM Categories: BNM Financial Adviser
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