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.

Osotspa Insurance Public Co Ltd rebranded as Tune Insurance Thailand 

Tune Insurance has successfully ventured into the Thai market through its 49% owned Tune Insurance Thailand (rebranded from Osotspa Insurance Public Co Ltd). http://bit.ly/TAS140924b

Wednesday, September 24, 2014 9:29:00 PM Categories: Merger Tune
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Accident rate in Malaysia is 1.4 times world average 

PIAM expects the gross written premim this year to grow 6-7%, mainly driven by M&H, Liabilities, PA and Fire. The accident rate in Malaysia is close to 40% higher than the world average and 4-7 times higher than developed countries. The world average rate is 18 per 100,000 population. http://bit.ly/TAS140924a

Wednesday, September 24, 2014 9:28:00 PM Categories: Motor Insurance PIAM
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MNRB counts on Malaysian Re and Takaful Ikhlas 

MNRB will focus on maintaining its market leader position in the domestic reinsurance market (current market share 53.5%) through its subsidiary Malaysian Re and growing its takaful business through Takaful Ikhlas. http://bit.ly/TAS140918c

Thursday, September 18, 2014 9:15:00 PM Categories: Ikhlas Malaysian Re MNRB
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Claims cost will come down post GST - MII 

MII believes that the motor claims experience will improve with the introduction of GST. The total cost of claims will come down because the workshop can seek reimbursement on the input tax. http://bit.ly/TAS140918b

Thursday, September 18, 2014 9:13:00 PM Categories: MII
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Sun Life Takaful teams up with Bank Rakyat to develop DMTM 

Livesure Ladies and Sun MediSure-i in the pipeline

Sun Life Takaful signed a strategic bancassurance agreement with Bank Rakyat to develop the direct marketing and telemarketing channel. 2 products namely Livesure Ladies and Sun MediSure-i will be rolled out. http://bit.ly/TAS140918a

Thursday, September 18, 2014 9:11:00 PM Categories: Bancassurance Product Sun Life
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Derek Roberts new CEO for AmGeneral 

Replacing Travis Atkinson who returns to NZ

BNM has approved Derek Roberts as the new CEO for AmGeneral, replacing Travis Atkinson who will return to IAG New Zealand. http://bit.ly/TAS140917a

Thursday, September 18, 2014 8:17:00 AM Categories: AmG Executive Movement
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An investment-linked product too good to be true 

...and apparently there are people who believe it!

An investment-linked product with a minimum guaranteed rate between FD rates and EPF returns while paying commissions to distributors, salary to staff and at the same time providing insurance protection? Do people actually believe such a product exists?. http://bit.ly/TAS140908a

Monday, September 8, 2014 9:05:00 PM Categories: Investments Product
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