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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.

Pacific completed due diligence on MCIS? 

Insurance News

  -  June 25, 2014
According to unnamed sources, Pacific Insurance has completed the due diligence on the GI business of MCIS. A team has also been set up to oversee the integration of the operations of the 2 companies.  http://bit.ly/TAS140625a 

 

Posted by Loo Hai Wednesday, June 25, 2014 9:20:00 PM Categories: MCIS Zurich Merger Pacific
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Sanlam considers selling GI business of MCIS to Fairfax 

Insurance News

  -  May 14, 2014
Sanlam is said to be in talks to divest the GI business of MCIS to Fairfax Group which owns Pacific Insurance. Sanlam will end up owning 2 GI licences upon completion of acquisition of MCIS. BNM only allows 1 licence under its regulations.  http://bit.ly/TAS140514a 

 

Posted by Loo Hai Wednesday, May 14, 2014 8:47:00 PM Categories: MCIS Zurich Merger Pacific Sanlam
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Details on acquisition of MCIS Zurich by Sanlam 

Insurance News

  -  April 24, 2014
This article has more details on the acquisition of MCIS Zurich by Sanlam.  http://bit.ly/TAS140424a 

 

Posted by Loo Hai Friday, April 25, 2014 10:26:00 AM Categories: MCIS Zurich Merger Sanlam Zurich
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Sanlam to takeover from Zurich and become major shareholder 

Insurance News

  -  April 23, 2014
With Zurich's pull out, Sanlam will buy into 51% stake in MCIS Zurich for $119 mil. Sanlam will take over Zurich's 40% stake and acquire another 11% either from minority shareholders or from Koperasi MCIS Bhd.  http://bit.ly/TAS140423b 

 

Posted by Loo Hai Wednesday, April 23, 2014 9:41:00 PM Categories: MCIS Zurich Merger Sanlam Zurich
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Zurich pulls out of MCIS Zurich 

Insurance News

  -  April 23, 2014
Zurich Asia is disposing its 40% stake in MCIS Zurich to Koperasi MCIS Bhd for RM304 mil. The transaction is expected to take place on 5/5/2014.  http://bit.ly/TAS140423a 

 

Posted by Loo Hai Wednesday, April 23, 2014 2:02:00 PM Categories: MCIS Zurich Merger Zurich
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Sanlam after MCIS Zurich? 

Insurance News

  -  September 5, 2013
Sanlam would be spending between 500 and 800 mil rand (RM167 mil to RM267 mil) to acquire a life insurer in Malaysia or Indonesia. Earlier it was reported that Zurich was in talk with Sanlam for potential disposal of its stake in MCIS Zurich to the latter. http://bit.ly/TAS130905a2
South Africa’s Sanlam scouring SEA for a life insurer - Business Times JOHANNESBURG: South Africa’s Sanlam said today it planned to spend surplus capital to acquire a life insurer in South East Asia and raise its stakes in its Indian businesses if the government lifted a cap on foreign ownership.

 

Posted by Loo Hai Friday, September 6, 2013 7:08:00 PM Categories: MCIS Zurich Merger Sanlam
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Zurich to sell MCIS Zurich to Sanlam? 

Insurance News

  -  June 17, 2013
Zurich is apparently in talk with Sanlam to sell its 40% stake in MCIS Zurich to the latter. A source said that Zurich was given by BNM until end of this month to pull out of MCIS Zurich.
Zurich in talks to sell MCIS stake to Samlan - The Sun Daily PETALING JAYA (June 10, 2013): Zurich Insurance Co Ltd is negotiating with South African financial services group Sanlam to sell its 40% stake in MCIS Zurich Insurance Bhd, people close to the matter said.

 

Posted by Loo Hai Monday, June 17, 2013 6:21:00 PM Categories: MCIS Zurich Merger Sanlam Zurich
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