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.

Lloyd's applying for onshore licence in Malaysia 

Lloyd's is applying for an onshore reinsurance licence in Malaysia. Lloyd's currently writes Malaysian business from London, Singapore and Labuan. The new licence will give Lloyd's a significant opportunity to develop its marine, energy, construction, engineering and liability business, as well as introduce new products. http://j.mp/TAS150730b

Thursday, July 30, 2015 8:00:00 PM Categories: Lloyd's
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Change in professional indemnity coverage increases cost significantly 

The change of professional indemnity coverage from occurrence-based to claims-based has caused many senior obstetricians to quit their practice. The new insurance requires payment of annual premiums for 25 years, even after the obstetrician has retired. The annual premium for an unlimited indemnity can come close to RM70,000, according to a source. http://j.mp/TAS150727b

Monday, July 27, 2015 5:53:00 PM Categories: Nice2Know
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U for Life may expand into other products 

U for Life, a 40:60 joint venture by Intelligent Life Ltd and Hannover Re, will only work solely with Tokio Marine in the near future. The company may also expand into other insurance products depending on the feedback from its customers. http://j.mp/TAS150727a

Monday, July 27, 2015 5:43:00 PM Categories: Hannover Re Tokio Marine
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PruBSN grew 56% in 1Q 

PruBSN's ACE grew 56% year-on-year from RM76 mil to RM118.4 mil in 1Q 2015 and commanded a market share of 39%. http://j.mp/TAS1500715a

Wednesday, July 15, 2015 8:21:00 PM Categories: PruBSN
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Aman Chowla new CEO for PruBSN 

Aman Chowla has replaced Azim Mithani as the CEO of PruBSN. Meanwhile Azim has taken a new role as the COO of PCA based in Hong Kong. http://j.mp/TAS150713a

Monday, July 13, 2015 9:15:00 PM Categories: Executive Movement PruBSN
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Allianz revises down growth target 

Allianz has revised down its growth target from double to single digit citing the current challenging economic climate. http://j.mp/TAS150709a

Thursday, July 9, 2015 7:17:00 PM Categories: Allianz Outlook
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