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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.

Sale of MAA Takaful to Zurich pending BNM's approval 

MAA Group Bhd and Solidarity Group have jointly applied to BNM for approval of the sale of MAA Takaful to Zurich. http://j.mp/TAS151201a

Tuesday, December 1, 2015 9:20:00 AM Categories: MAA Merger Zurich
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Details on acquisition of MCIS Zurich by Sanlam 

Insurance News

  -  April 24, 2014
This article has more details on the acquisition of MCIS Zurich by Sanlam.  http://bit.ly/TAS140424a 

 

Posted by Loo Hai Friday, April 25, 2014 10:26:00 AM Categories: MCIS Zurich Merger Sanlam Zurich
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Sanlam to takeover from Zurich and become major shareholder 

Insurance News

  -  April 23, 2014
With Zurich's pull out, Sanlam will buy into 51% stake in MCIS Zurich for $119 mil. Sanlam will take over Zurich's 40% stake and acquire another 11% either from minority shareholders or from Koperasi MCIS Bhd.  http://bit.ly/TAS140423b 

 

Posted by Loo Hai Wednesday, April 23, 2014 9:41:00 PM Categories: MCIS Zurich Merger Sanlam Zurich
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Zurich pulls out of MCIS Zurich 

Insurance News

  -  April 23, 2014
Zurich Asia is disposing its 40% stake in MCIS Zurich to Koperasi MCIS Bhd for RM304 mil. The transaction is expected to take place on 5/5/2014.  http://bit.ly/TAS140423a 

 

Posted by Loo Hai Wednesday, April 23, 2014 2:02:00 PM Categories: MCIS Zurich Merger Zurich
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Zurich plans to cut 800 jobs 

Insurance News

  -  March 11, 2014
Zurich plans to cut 800 jobs to save US$250 mil annually. It plans to remove management layers between the main office and the individual business units to achieve this objective by end 2015.  http://bit.ly/TAS140311c 

 

Posted by Loo Hai Tuesday, March 11, 2014 8:48:00 PM Categories: Zurich
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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
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MAA and Zurich settle dispute 

Insurance News

  -  September 12, 2013
The MAA group has settled its dispute with Zurich Insurance on 6/9/2013.
MAA Group settles dispute with Zurich - The Sun Daily PETALING JAYA (Sept 11, 2013): MAA Group Bhd has settled its dispute on the draft completion accounts with Zurich Insurance Co Ltd.

 

Posted by Loo Hai Friday, September 13, 2013 4:58:00 PM Categories: MAA Merger Zurich
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