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.

MNRB Retakaful receives 'BBB+' rating 

Insurance News

  -  September 30, 2013
MNRB Retakaful has received 'BBB+' insurer financial strength rating from Fitch. Positive factors taken into account in the rating were support from MNRB Group, sound capital level and prudent investment strategy while negative factors were competitive and evolving takaful operating environment and high expense ratio. Business portfolio of the company comprises of 60% general retakaful and 40% family retakaful sourced mainly from Malaysia.
Fitch affirms Malaysia's MNRB Retakaful at IFS 'BBB+'/stable - The Edge (Sept 30): The following statement was released by the rating agency. Fitch Ratings has affirmed Malaysia-based MNRB Retakaful Berhad's (MRT) Insurer Financial Strength rating at 'BBB+' with Stable Outlook.

 

Posted by Loo Hai Monday, September 30, 2013 6:52:00 PM Categories: MNRB Ratings
Rate this Content 0 Votes

Sun Life to build capabilities this year 

Insurance News

  -  September 30, 2013
Sun Life will spend this year focusing on building its capabilities in terms of strengthening its distribution channels and product range, improving its ICT, branding and human resource. It expects to reap the fruits only in 2014 and beyond. Sun Life currently has only 7 financial services consultants but target to increase it to 50 by year-end and to 150 and 300 by end of 2014 and 2015 respectively.
Sun Life to boost capabilities by growing business in competitive market - The Star PETALING JAYA: Fresh from the acquisition by its parent Sun Life Financial Inc (Sun Life) of a substantial stake in CIMB Aviva Assurance Bhd and CIMB Aviva Takaful Bhd, Sun Life Malaysia Assurance Bhd has drawn out a game plan to gain a stronger foothold and prominence in the local insurance and takaful market.

 

Posted by Loo Hai Monday, September 30, 2013 5:48:00 PM Categories: Strategy Sun Life
Rate this Content 0 Votes

European life business unviable due to low interest rates 

Insurance News

  -  September 27, 2013
Low interest rates have made life insurance business increasingly unviable in Europe.
Low rates bite Europe insurers’ profit - Business Times LONDON: Life insurance is becoming an unviable business in Europe as low interest rates reduce insurers’ profits, forcing many to compensate with higher-risk investments or move overseas, according to an industry survey by law firm Linklaters. Fifty-five per cent of 100 top executives at largest insurers believe it may become impossible to provide affordable life cover in Europe. Low interest rates pressure profits at insurance companies because they drive down returns on their investments, such as bonds. Reuters

 

Posted by Loo Hai Friday, September 27, 2013 9:06:00 PM Categories: Investments
Rate this Content 0 Votes

AXA Affin and ICBC into bancassurance deal 

Insurance News

  -  September 26, 2013
AXA Affin Life has tied up with ICBC Malaysia in a bancassurance deal on August 15.
A milestone in AXA Affin Life tie-up with ICBC - Business Times KUALA LUMPUR: AXA Affin Life Insurance Bhd (AXA Affin Life) and Industrial and Commercial Bank of China Malaysia (ICBC Malaysia) signed a bancassurance agreement on August 15 to distribute the former's life insurance products to ICBC customers in the country.

 

Posted by Loo Hai Friday, September 27, 2013 9:03:00 PM Categories: Axa Affin Bancassurance
Rate this Content 0 Votes

Insurers' call for long-dated bonds answered 

Insurance News

  -  September 26, 2013
The RM2.5 bil 30-year government bonds will debut this week with expected yields in the range of 4.35% to 4.75%. Insurance companies are likely to be interested in the long-dated bonds given their long duration liabilities.
Malaysia debuts longest bonds - Business Times Malaysia will sell 30-year bonds for the first time in its longest-maturity offering to set a benchmark for companies raising funds under Prime Minister Datuk Seri Najib Razak’s US$444 billion development programme.

 

Posted by Loo Hai Friday, September 27, 2013 8:48:00 PM Categories: Investments
Rate this Content 0 Votes

Zurich bullish on travel insurance 

Insurance News

  -  September 24, 2013
Zurich is bullish on travel insurance projecting 15% growth in Malaysia. The robust economic growth, rising disposable income and enhanced standard of living were cited as factors for growth. Currently the travel insurance penetration rate in Malaysia was reported to be 10%.
Travel insurance to grow double digit - Business Times Asia Pacific travel insurance is projected to grow double digit for the next five to seven years, led by markets such as Malaysia, South Korea and Taiwan.

 

Posted by Loo Hai Tuesday, September 24, 2013 5:50:00 PM Categories: Zurich
Rate this Content 0 Votes

AmBank wants control of AmTakaful 

Insurance News

  -  September 23, 2013
AmBank prefers to maintain control of AmTakaful while is willing to let go of the control of AmLife. Sources said that AmBank is prepared to sell up to 51% of AmLife, instead of 70% as reported earlier.  The 3 potential buyers are Manulife, Metlife and ACE.
AmBank still in talks on AmLife Insurance - The Edge KUALA LUMPUR: AmBank Group Bhd, which is spending RM600 million to reposition its brand, is willing to let go of the controlling stake in its life insurance business but prefers to keep control of the takaful insurance business.

 

Posted by Loo Hai Monday, September 23, 2013 7:11:00 PM Categories: ACE Jerneh AmMetLife Manulife Merger
Rate this Content 0 Votes
Page 1 of 3 1 2 3 > >>
  • RSS
  • Subscribe