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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.

Price war likely post de-tariffication 

Insurance News

  -  June 3, 2013
The motor and fire insurance premium rates would be de-tariffed in 2016. There is a likelihood of a price war which will affect profitability. Insurers are looking at various strategies including risk-based pricing, product innovation and differentiation, customer service as well as strengthening of delivery and distribution channels in preparation for the de-tariffication.
Insurers brace for likely price war - The Star PETALING JAYA: With less than three years to go before motor and fire insurance rates are de-tariffed, insurers, who are bracing for a price war, have embarked on various measures to ensure their market share and profitability are not significantly impacted.

 

Posted by Loo Hai Monday, June 3, 2013 6:47:00 PM Categories: Allianz Etiqa Motor Insurance Tariff Tune
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Acquisition of Kurnia increases scale which gives pricing advantage 

Insurance News

  -  Apr 14, 2013
The acquisition of Kurnia Insurans is to increase the scale which becomes important with the planned de-tariff. Scale allows pricing advantage as you gain more insight. General insurance also gives a higher ROE than banking in Malaysia, a fact that is not that well understood in the industry.  An information memorandum for prospective new investors in AmLife and AmTakaful was planned to be issued last week.
AMMB stays in shape to compete and grow its business - The Star FOR the mid-tier and smaller banks that are competing against the giants of the industry, it's all about fighting fit and staying in the game.

 

Posted by Loo Hai Sunday, April 14, 2013 6:56:00 PM Categories: AmG AmMetLife AmMetLife Takaful Kurnia Merger Strategy Tariff
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Insurers' operating margin could be affected 

Insurance News

  -  Dec 13, 2012
The planned removal of both the cap on acquisition costs and tariff pricing structure could undermine the stability of insurer's operating margin. Compliance costs may also increase with the implementation of Personal Data Protection Act. http://bit.ly/TAS1213a
Fitch: Insurance sector may be affected by regulatory efforts PETALING JAYA: Malaysia's insurance and takaful sector may see its earnings stability challenged by regulatory initiatives and on-going capital market volatility, says Fitch Ratings.
Posted by Loo Hai Thursday, December 13, 2012 1:49:00 PM Categories: Commission Tariff
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