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.

MH17 incident may or may not be covered under travel PA 

Insurance News

  -  July 31, 2014
The travel PA may or may not cover the MH17 incident, depending on the exclusions and the cause of the incident. According to PIAM while acts of terrorism are covered by many travel PA policies, they are subject to underwriting and are dependent on the area of travel. Meanwhile an act of war is excluded under all circumstances.  http://bit.ly/TAS140731b 

 

Thursday, July 31, 2014 6:18:00 PM Categories: PIAM
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AIA Public launches A-LifeLink-i 

Insurance News

  -  July 31, 2014
AIA Public Takaful launches a regular contribution investment-linked plan named A-LifeLink-i. The plan provides death and TPD cover up to age 100 and with 13 optional riders providing protection for critical illness, medical and accidental benefits.  http://bit.ly/TAS140731a 

 

Thursday, July 31, 2014 6:11:00 PM Categories: AIA PUBLIC
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MTA's response to MH17 claims 

Insurance News

  -  July 26, 2014
MTA's response to MH17 claims: 1) Member companies are CONSIDERING waiving the standard claims requirements. 2) Affected family members may want to contact directly MTA member companies IF SPECIAL CONSIDERATION can be given to the exclusion clause.  http://bit.ly/TAS140726a 

 

Posted by Loo Hai Saturday, July 26, 2014 11:16:00 AM Categories: MTA
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Death cert waived for MH17 claims by LIAM 

Insurance News

  -  July 24, 2014
LIAM's members have agreed to waive the requirement of death certificates for MH17 claims. The exclusion clause of some policies will also be waived to facilitate the claims payment. There are a total of 95 life insurance policies involved with total coverage of RM13.7 mil.  http://bit.ly/TAS140724a 

 

Posted by Loo Hai Thursday, July 24, 2014 8:09:00 PM Categories: LIAM
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Fitch expects insurance sector to remain solid 

Insurance News

  -  July 18, 2014
Fitch Ratings releases its report "Malaysia Insurance Market Dashboard 1H14" and expects market consolidation to continue. The industry's overall capital strength is expected to remain solid. Favourable underwriting margins in fire and other non-motor classes are likely to persist. The strong demand for investment-linked products, underpinned by rising consumers' risk appetite, will offset pressure from lower sales in traditional life products.  http://bit.ly/TAS140718a 

 

Posted by Loo Hai Friday, July 18, 2014 9:22:00 PM Categories: Ratings
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Uni.Asia General acquired by Liberty Seguros 

Insurance News

  -  July 16, 2014
Uni.Asia Capital has signed an S&P with Spain's Liberty Seguros for the former to dispose 68.1% stake in Uni.Asia General to the latter. The stake is valued at RM374.52 mil.  http://bit.ly/TAS140716a 

 

Posted by Loo Hai Wednesday, July 16, 2014 9:11:00 PM Categories: Merger Uni.Asia
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Allianz' CEO resigns 

Insurance News

  -  July 10, 2014
Allianz Life's CEO Jens Reisch has resigned and will be leaving the company end of July to pursue other career opportunities outside the Allianz Group. Allianz General's current CEO, Zakri Mohd Khir will take over from Reisch as the CEO of Allianz Malaysia Bhd, subject to the approval of regulatory authority. http://bit.ly/TAS140710a 

 

Posted by Loo Hai Thursday, July 10, 2014 9:13:00 PM Categories: Allianz Executive Movement
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