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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. 

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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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MAA eyes Southern Philippines for takaful expansion 

Insurance News

  -  June 20, 2014
MAA is eyeing the Takaful market of the Philippines, in particular in the southern Philippines including Mindanao.  http://bit.ly/TAS140620a 

 

Posted by Loo Hai Friday, June 20, 2014 9:11:00 PM Categories: MAA
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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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MAA and Zurich settle dispute 

Insurance News

  -  July 29, 2013
MAA and Zurich has settled their longtime dispute with net amount payable into the escrow account by Zurich of RM78.83 mil.  The dispute was over certain downward adjustments made to the draft completion accounts and statement of aggregate net asset value of disposed subsidiaries.
MAA Group, Zurich settle longtime dispute - The Sun Daily PETALING JAYA (July 25, 2013): MAA Group Bhd, controlled by the Melewar group, which is linked to the Negeri Sembilan royalty, will finally get to proceed with plans to buy new businesses after reaching a settlement agreement with Zurich Insurance Co Ltd yesterday.

 

Posted by Loo Hai Monday, July 29, 2013 5:57:00 PM Categories: MAA Zurich
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MAA and Zurich enter into arbitration 

Insurance News

  -  June 17, 2013
MAA Group is putting on hold future acquisitions pending the outcome of an arbitration which may be concluded by the end of this year.  The arbitration is regarding a dispute between MAA and Zurich on the final selling price of MAA Assurance.  As at end of April 2013, there was still a balance of RM131.7 mil in an escrow account to be released.
MAA Group: Future acquisitions on hold - The Sun Daily PETALING JAYA (June 13, 2013): MAA Group Bhd, controlled by the Melewar group, which is linked to the Negri Sembilan royalty, will only be able to decide on buying a new business after its dispute with Zurich Insurance Co Ltd, which is currently in arbitration, is settled, executive chairman Tunku Datuk Ya'acob Tunku Abdullah said.

 

Posted by Loo Hai Monday, June 17, 2013 6:31:00 PM Categories: MAA Merger Zurich
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Abdul Latiff new Takaful Ikhlas CEO 

Insurance News

  -  Jan 7, 2013
Abdul Latiff Abu Bakar has been appointed the new CEO for Takaful Ikhlas with a 2-year contract. Abdul Latiff was formerly the CEO of Hong Leong Tokio Marine Takaful. Prior to that, he worked in Etiqa, MAA and Takaful Nasional.
MNRB appoints new CEO for Takaful Ikhlas - Business Times
KUALA LUMPUR: MNRB Holdings Bhd has appointed Abdul Latiff Abu Bakar as the new chief executive officer of the group's Islamic insurance arm Takaful Ikhlas Sdn Bhd.

 

Posted by Loo Hai Monday, January 7, 2013 9:10:00 PM Categories: Etiqa Executive Movement Ikhlas MAA
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News Posts 20121001-20121007 

Insurance News

4 Oct 2012  -  Public
 
With the removal of the 8% tax on investment income of the annuity fund and RM3,000 tax relief on annuity premiums, insurance companies are likely to launch a slew of annuity products in the near future.  http://bit.ly/TAS1004b

INSURERS are set to launch a slew of annuity products in the near future now that the government has proposed to remove the eight per cent investment income tax on deferred annuity.

Insurance News

4 Oct 2012  -  Public
 
The takeover deal of ING Malaysia and Thailand by AIA could be completed by year-end and it is worth US$1.8 bil. http://bit.ly/TAS1004a
Talks in advanced stage for AIA to buy ING’s ops in Malaysia and Thailand »
PETALING JAYA: A deal worth about US$1.8bil could be struck very soon between AIA Group Ltd and ING Group for the former to acquire the latter’s insurance operations in Malaysia and Thailand as part o...
 

Insurance News

2 Oct 2012  -  Public
 
MII has been asked to conduct a research on the adequacy of medical cover and the reasonableness of medical insurance premiums in Malaysia.http://bit.ly/TAS1002a
Call for medical insurance study to ensure consumers adequately covered at reasonable charges »
KUALA LUMPUR: There is a need for a comprehensive research in the area of medical insurance to ensure consumers are adequately covered with reasonable charges, Deputy Finance Minister Datuk Donald Lim...

Insurance News

1 Oct 2012  -  Public
 
MAA Takaful claimed leadership in regular investment-linked (basic) and single premium investment-linked businesses with market shares of 31% and 54% respectively. It attributed the success to company's agency force, "war room" concept, products and services as well as its technology and online initiatives.http://bit.ly/TAS1001d
MAA Takaful out to maintain leadership in investment-linked business »
KUALA LUMPUR: MAA Takaful Bhd, a wholly-owned subsidiary of MAA Group Bhd, is confident of maintaining its market leadership in the investment-linked business, notably in the regular investment-link...
 
Insurance News1 Oct 2012
 
Anyone has the corresponding market share figures for PruBSN?

Insurance News

1 Oct 2012  -  Public
 
Steve Ong, the previous CEO of ING Funds, has taken up a new role as the CEO of the Private Pension Administrator Malaysia. http://bit.ly/TAS1001c
Steve Ong is CEO of PPA »
PETALING JAYA: The Private Pension Administrator Malaysia (PPA) has appointed Datuk Steve Ong Chong Gain (pic) as its chief executive officer with effect from Oct 1.

Insurance News

1 Oct 2012  -  Public
 
Great Eastern is planning to launch an annuity product by year end to take advantage of the RM3,000 tax relief. Its new business weighted premium grew 8% in 1H, the number of agents grew 27% and the Malay agents grew 179%. In 2H, it would focus on protection-based products in particular medical and critical illness products. http://bit.ly/TAS1001b
Great Eastern records 8% growth in new biz premium in H1 »
Great Eastern Life Assurance (Malaysia) Bhd recorded 8% growth in total weighted new business premium in the first half of 2012 and it expects stronger momentum in the second half, with continuous foc...

 

Posted by Loo Hai Wednesday, October 17, 2012 4:16:00 PM Categories: AIA Annuity Great Eastern ING MAA Merger MII PRS
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