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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.

AIA grew with acquisition of ING 

Insurance News

  -  March 13, 2014
AIA's new business value grew 74% to RM228 mil and its annualised new premiums grew 111% partly due to the merger with ING.  http://bit.ly/TAS140313b 


Posted by Loo Hai Thursday, March 13, 2014 7:21:00 PM Categories: AIA ING
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ING exits Malaysia 

Insurance News

  -  June 17, 2013
The ING insurance brand exits the Malaysia market today.  AIA has successfully integrated the 2 brands into 1 and all businesses will now operate under a single licence and brand.  AIA AFG Takaful Bhd is also now known as AIA PUBLIC Takaful Bhd.
AIA Malaysia, ING integrate under one brand - Business Times Malaysia’s leading life insurer, AIA, has integrated ING Group’s local insurance operations into its business.


Posted by Loo Hai Monday, June 17, 2013 6:09:00 PM Categories: AIA AIA PUBLIC ING Merger
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AIA to return ING's licence by June 

Insurance News

  -  Mar 15, 2013
AIA targets to operate under a single licence by June. The full integration with ING will take 18 to 24 months. In terms of market share, the merged entity ranks number 1 in terms of total premium but number 3 in terms of new business. AIA has filed its PRS product with regulator and target to launch in the next few months.
AIA set to operate under single licence by June - The Star KUALA LUMPUR: American International Assurance Bhd (AIA) is set to operate under a single licence in Malaysia by June, after acquiring ING Group's local insurance operations.


Posted by Loo Hai Friday, March 15, 2013 9:04:00 PM Categories: AIA ING Market Share Merger PRS
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AIA outlines strategies post merger 

Insurance News

  -  Mar 14, 2013
AIA is focusing on integration post acquisition of ING, especially in the areas of distribution effectiveness, product targeting and customer engagement. Its has an enlarged tied agency force of 16,600 and will train and rebrand its agents to be life planners. Recruitment of new agents will be focusing on Gen Y.
AIA On Track To Become Market Leader In Malaysia - Bernama KUALA LUMPUR, March 14 (Bernama) -- American International Assurance (AIA) Group Ltd's acquisition of ING Management Holdings (Malaysia) Sdn Bhd (ING Malaysia) has accelerated its vision to become the market leader in Malaysia.


Posted by Loo Hai Thursday, March 14, 2013 9:09:00 PM Categories: AIA ING Merger Strategy
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Bill Lisle is CEO for both AIA and ING 

Insurance News

  -  Jan 4, 2013
Effective 26 December 2012, Bill (William) Lisle has been appointed the CEO of both AIA and ING, tasked to lead the integration exercise post merger of the two companies.

Bill's past positions in insurance industry:
2001 Head of Agency Development, AIA Singapore
  Director of Agency Development, South Asia with Prudential Corporation Asia
  Chief Agency Officer, ICICI Prudential, India
2004 General Manager, Distribution, Prudential Malaysia
2005 CEO, PCA Life Korea
2008 CEO, Prudential Malaysia
2009 Managing Director, Aviva, South Asia (covering HK, Malaysia, Singapore, Korea, Sri Lanka, India)
2011 AIA, Group Chief Distribution Officer, Hong Kong
AIA, ING gets new CEO - Business Times William Lisle has been appointed Chief Executive Officer of both AIA Bhd and ING Insurance Bhd, effective Dec 26, 2012, to lead the integration of AIA and ING in Malaysia.


Posted by Loo Hai Monday, January 7, 2013 7:01:00 PM Categories: AIA Executive Movement ING
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Is CIMB Aviva worth US$1.2 billion? 

Insurance News

  -  Dec 28, 2012
If the sale of CIMB Aviva really fetches US$1.2 bil as speculated in this report, compared to the price tag of ING of US$1.68 bil paid by AIA, which do you think is a better deal from buyer's perspective?
CIMB-Aviva joint venture may fetch US$1.2b - Business Times KUALA LUMPUR: The sale of CIMB Group Bhd and British insurer Aviva plc's Malaysian insurance joint venture (JV) could fetch up to US$1.2 billion (RM3.67 billion), people briefed on the matter said.
Posted by Loo Hai Friday, December 28, 2012 9:41:00 PM Categories: AIA Aviva CIMB ING Merger
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AIA receives regulatory approvals for ING Malaysia acquisition 

Insurance News

  -  Dec 19, 2012
AIA has received the regulatory approvals for the acquisition of ING Malaysia. 
AIA completes acquisition of ING Malaysia - Business Times KUALA LUMPUR: AIA Group Ltd has completed the acquisition of ING Management Holdings (Malaysia) Sdn Bhd (ING Malaysia) after receiving regulatory approvals.


Posted by Loo Hai Wednesday, December 19, 2012 11:47:00 AM Categories: AIA ING Merger
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