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.

QBE opens a branch in Melaka 

Insurance News

  -  February 26, 2014
QBE opens its 12th branch in Melaka recently. QBE recorded a turnover of RM226 mil in 2013 and has grown 7.5% over the last 3 years.  http://bit.ly/TAS140226a 

 

Posted by Loo Hai Wednesday, February 26, 2014 8:55:00 PM Categories: QBE
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MMA calls for boycott of Etiqa 

Insurance News

  -  February 21, 2014
MMA has called for a nationwide boycott of Etiqa. Etiqa has removed over 200 GPs from its panel of clinics as the GPs do not have an account with Maybank. Etiqa has also suspended cashless services and all patients referred by Etiqa will have to pay cash and get reimbursement later. Some GPs are also not happy with delayed payments from Etiqa via a 3rd party administrator. http://bit.ly/TAS140221b  In response, Etiqa said that they are engaging with MMA to come up with solutions and their intention is to expedite payment to the GPs on their panel.  http://bit.ly/TAS140221c

 

Posted by Loo Hai Friday, February 21, 2014 8:51:00 PM Categories: Etiqa
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Consultation Paper on Life and Takaful Framework received good response 

Insurance News

  -  February 20, 2014
254 respondents submitted feedback to BNM on its proposed Life Insurance and Family Takaful Framework at the close of the consultation period on 9/1/2014. Feedback was received in most key areas including on intermediaries' remuneration. BNM would further engage with stakeholders before finalising the overall framework.  http://bit.ly/TAS140220b 

 

Posted by Loo Hai Thursday, February 20, 2014 8:59:00 PM Categories: BNM
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Insurance agent jailed for cheating 

Insurance News

  -  February 20, 2014
An insurance agent was sentenced to 11 years jail and 6 strokes of the cane for cheating a housewife RM800,000 on the pretext of selling her insurance policies. http://bit.ly/TAS140220a 

 

Posted by Loo Hai Thursday, February 20, 2014 3:56:00 PM Categories: Great Eastern
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Liberty Mutual to acquire Uni.Asia General 

Insurance News

  -  February 19, 2014
The Boston-based Liberty Mutual is acquiring 68.09% stake in Uni.Asia General. The transaction is subject to regulatory approval and is expected to complete by mid-July 2014. Liberty Mutual is the 3rd largest P&C insurer in US. http://bit.ly/TAS140219d

 

Posted by Loo Hai Wednesday, February 19, 2014 9:18:00 PM Categories: Merger Uni.Asia
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AMMB still waiting for BNM's Approval to partner MetLife 

Insurance News

  -  February 19, 2014
AMMB hopes to obtain BNM's approval by 31/3/2014 for its partnership with MetLife.  http://bit.ly/TAS140219c

 

Posted by Loo Hai Wednesday, February 19, 2014 9:13:00 PM Categories: AmMetLife AmMetLife Takaful Merger
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New takaful guidelines for Brunei 

Insurance News

  -  February 19, 2014
Brunei will introduce new guidelines for takaful sector by June to regulate commission rates and to set the minimum requirements to qualify as an agent. http://bit.ly/TAS140219b

 

Posted by Loo Hai Wednesday, February 19, 2014 9:07:00 PM Categories: Takaful
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