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.

DBS' bancassurance deal attracts many insurers 

DBS Bank's exclusive 15-year bancassurance deal has attracted many insurers including AIA, Prudential, Manulife, Aviva and Sun Life. http://bit.ly/TAS150205b

Thursday, February 5, 2015 6:04:00 PM Categories: AIA Aviva Bancassurance Manulife Prudential Sun Life
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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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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
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Sun Life Malaysia kicks off with RM640 mil target 

Insurance News

  -  August 22, 2013
Sun Life Malaysia, the new player in the local insurance and takaful industries, is targeting first year annualised premium of RM640 mil for this year.
Sun Life aims to achieve RM640m FYAP - Business Times SUN Life Malaysia, a new player in the Malaysian insurance market, aims to achieve first year annualised premium (FYAP) of RM640 million for fiscal year 2013.

 

Posted by Loo Hai Thursday, August 22, 2013 6:40:00 PM Categories: Aviva CIMB Strategy Sun Life
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Recent M&As and the strategies 

Insurance News

  -  Mar 16, 2013
A compilation of some recent mergers and acquisitions in the market and the strategies of the merged entities, covering Sun Life, AIA, AmGeneral, Berjaya Sompo, Khazanah. "AmG looking for a partner to develop Kurnia"? I think this must be a mistake. First, they are now called AmGeneral and no longer AmG. And why would they look for a partner when they already have IAG? I think the writer got confused with AmLife? Anyone can confirm this?
Major insurance companies angling for market share amid fast expanding economies - The Star A FLOURISHING middle class and a burgeoning economy driven by domestic and intra-regional trade, Asean looks set to become a battlefield for insurance giants clamouring for a piece of the pie.

 

Posted by Loo Hai Saturday, March 16, 2013 9:14:00 PM Categories: AIA AmG Berjaya Sompo Kurnia Strategy Sun Life
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Sun Life's plans for CIMB Aviva 

Insurance News

  -  Mar 14, 2013
Post acquisition of CIMB Aviva, Sun Life wants to introduce a broader product suite including more accident and health coverages. The company will be rebranded. Distribution will be mainly through bancassurance with CIMB bank and BSN.
CIMB Aviva New shareholder Sun Life to introduce broader life insurance products - The Star PETALING JAYA: Canadian insurance giant Sun Life Financial Inc will be undertaking aggressive plans to grow CIMB Aviva, the insurance unit it recently acquired with partner Khazanah Nasional Bhd.

 

Posted by Loo Hai Thursday, March 14, 2013 9:28:00 PM Categories: Aviva CIMB Product Strategy Sun Life
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Khazanah pays a higher price for CIMB Aviva 

Insurance News

  -  Jan 18, 2013
Based on the various versions of report on the price paid for acquiring CIMB Aviva, I think the real picture is as follows:
  1. CIMB disposes 49% stake to Khazanah for RM1.11 bil (RM1,066.5 mil in cash, remaining through shares in Renggis Ventures Sdn Bhd).
  2. Aviva disposes 49% stake to Sun Life for RM734.1 mil in cash.

Total price for the 98% stake is therefore RM1.8 bil in cash.

The question remains: why would Khazanah pay so much higher for the same 49% stake? Can anyone shed some light?

Khazanah and Canada’s Sun Life paying RM1.8bil for CIMB Aviva Insurance and CIMB Aviva Takaful - The Star PETALING JAYA: As speculated, Khazanah Nasional Bhd and Canada's Sun Life Financial Inc have emerged as the buyers of CIMB Aviva Assurance Bhd and CIMB Aviva Takaful Bhd.

 

Posted by Loo Hai Friday, January 18, 2013 9:22:00 PM Categories: Aviva CIMB Merger Sun Life
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