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.

STMB to acquire takaful company before 2018 

STMB is looking to acquire a local takaful company before the 2018 deadline of separation of life and general insurance businesses. http://j.mp/TAS1500513b

Wednesday, May 13, 2015 11:10:00 PM Categories: Merger STMB
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Anusha to helm AIA 

Anusha Thavarajah will take over from Bill Lisle as the CEO of AIA with effect from 1/6/2015, subject to BNM's approval. http://j.mp/TAS1500513a

Wednesday, May 13, 2015 11:07:00 PM Categories: AIA Executive Movement
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AmMetLife Takaful appoints new CEO 

AmMetLife Takaful has appointed Mohamad Salihuddin as the new CEO effective from today. http://j.mp/TAS1500511a

Monday, May 11, 2015 7:27:00 PM Categories: AmMetLife Takaful
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PruBSN increased market share 

PruBSN's market share increased from 27.1% in 2013 to 33.1% in 2014. The ACE grew 26.4% to RM340.1 mil from RM269.2 mil a year earlier. http://j.mp/TAS1500508b

Saturday, May 9, 2015 12:42:00 PM Categories: Market Share PruBSN
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Internet life insurance platform launched in Malaysia 

Hannover Re has partnered Tokio Marine Life to launch the 1st internet insurance platform in Malaysia that issues e-policies instantly. The products available currently are YRT with or without critical illness, and PA. Based on the product disclosure sheets, all products are sold without commission. http://j.mp/TAS1500507a

Saturday, May 9, 2015 12:40:00 PM Categories: Hannover Re Tokio Marine
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Is insurer liable for third party claims when insured breaches T&Cs? 

Consider this scenario: you were riding your motorcycle and your handbag was snatched from behind by the pillion rider of another motorcycle. You lost your balance, fell and injured yourself badly. You sought compensation from the insurer of the other motorcycle for third party bodily injury (TPBI). As the motorcycle was used for illegal purposes when you sustained your injury, can the insurer repudiate your claim on the basis that the insured had breached the terms and conditions of the policy? Find out the answer by reading this recent court case. http://j.mp/TAS1500505a

Tuesday, May 5, 2015 6:57:00 PM Categories: P&O
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