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.

Is insurer liable for third party claims when insured breaches T&Cs? 

Consider this scenario: you were riding your motorcycle and your handbag was snatched from behind by the pillion rider of another motorcycle. You lost your balance, fell and injured yourself badly. You sought compensation from the insurer of the other motorcycle for third party bodily injury (TPBI). As the motorcycle was used for illegal purposes when you sustained your injury, can the insurer repudiate your claim on the basis that the insured had breached the terms and conditions of the policy? Find out the answer by reading this recent court case. http://j.mp/TAS1500505a

Tuesday, May 5, 2015 6:57:00 PM Categories: P&O
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P&O cautious on outlook 

P&O is cautious on its business outlook given the uncertainties in the global economy. The company's claims ratio stands at 70% and has 3-5% market share. http://j.mp/TAS150325a

Wednesday, March 25, 2015 4:46:00 PM Categories: Outlook P&O
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P&O declares special dividend 

Insurance News

  -  May 22, 2013
P&O has declared a special dividend of 15.17 sen and tax-exempt dividend of 3.82 sen..
More dividends from Pacific & Orient - The Star KUALA LUMPUR: Pacific & Orient Bhd has declared special dividend of 15.17 sen a share and tax-exempt dividend of 3.82 sen per share for each share of 50 sen each.

 

Posted by Loo Hai Wednesday, May 22, 2013 8:56:00 PM Categories: P&O
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Sanlam completed the acquisition of P&O 

Insurance News

  -  May 21, 2013
Sanlam has completed the acquisition of 49% of P&O for RM270 mil. P&O is the largest motorcycle insurer in Malaysia.
Sanlam buys 49pc of Pacific & Orient Insurance - Business Times KUALA LUMPUR: Sanlam, a South African financial services group, is making a foray into Southeast Asia's insurance industry via the acquisition of a 49 per cent stake in Pacific & Orient Insurance Co Bhd (POI).

 

Posted by Loo Hai Tuesday, May 21, 2013 7:07:00 PM Categories: Merger P&O
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P&O's rating upgraded by Fitch 

Insurance News

  -  Jan 10, 2013
P&O's insurer financial strength rating has been upgraded by Fitch from 'BBB' to 'BBB+'.
Fitch upgrades Pacific & Orient's rating on improving fundamentals - The Star KUALA LUMPUR: Fitch Ratings has upgraded Malaysia's Pacific & Orient Insurance's (POI) insurer financial strength (IFS) rating to 'BBB+' from 'BBB'.
Posted by Loo Hai Thursday, January 10, 2013 9:48:00 PM Categories: P&O Ratings
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Sanlam to acquire 49% of P&O for RM270 mil by 1H 2013 

Insurance News

20:38  -  Public
P&O intends to sell 49% of its insurance stake to Sanlam for RM270 mil. The divestment is expected to complete by June 2013. http://bit.ly/TAS1211a
P&O to sell stake in Pacific Orient »
PETALING JAYA: Pacific & Orient Bhd (P&O) has proposed to dispose of a 49% stake in Pacific Orient Insurance Co Bhd (POI) to Sanlam Emerging Markets Proprietary Ltd for RM270mil cash.

 

Posted by Loo Hai Tuesday, December 11, 2012 8:39:00 PM Categories: Merger P&O
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MoF Approves P&O's Divestment 

Insurance News

17:22  -  Public
 
MoF has granted its approval for the divestment of 49% of P&O to Sanlam.http://bit.ly/TAS1027a

KUALA LUMPUR: Pacific & Orient Bhd (POB) has yesterday received approval from the Minister of Finance via a letter from Bank Negara to dispose of its 49 per cent equity interest in Pacific & Orient Insurance Co Bhd to Sanlam Emerging Markets Proprietary Ltd.

 

Posted by Loo Hai Tuesday, November 27, 2012 5:31:00 PM Categories: Merger P&O
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