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.

GI growth rate revised down 

PIAM has revised down the general insurance growth rate to 3-4% from 5.5-6.5%, citing weakening ringgit, cautious economic outlook and moderation in consumer spending post GST. In 1H 2015, the industry grew 2.3% compared with 6.4% for the same period last year. http://j.mp/TAS150813a

Thursday, August 13, 2015 6:19:00 PM Categories: Outlook PIAM
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PIAM re-elects Chua as chairman 

Chua Seck Guan, the CEO of MSIG, has been re-elected as the Chairman of PIAM. http://j.mp/TAS150422a

Wednesday, April 22, 2015 8:12:00 PM Categories: PIAM
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PIAM expects 5.5 to 6% growth 

PIAM expects the GWP for the industry to grow by between 5.5% and 6% in 2015 despite the global headwinds. In 2014, GWP grew 5.9% to RM17.1 bil. PIAM also launched its new logo recently. http://bit.ly/TAS150209b

Monday, February 9, 2015 4:12:00 PM Categories: Outlook PIAM
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PIAM appoints new CEO 

PIAM has appointed Mark Lim Kian Wei as its new CEO. Mark was the Executive Director of Singapore General Insurance Association from 2006-2013. http://bit.ly/TAS141024a

Friday, October 24, 2014 6:57:00 PM Categories: Executive Movement PIAM
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Accident rate in Malaysia is 1.4 times world average 

PIAM expects the gross written premim this year to grow 6-7%, mainly driven by M&H, Liabilities, PA and Fire. The accident rate in Malaysia is close to 40% higher than the world average and 4-7 times higher than developed countries. The world average rate is 18 per 100,000 population. http://bit.ly/TAS140924a

Wednesday, September 24, 2014 9:28:00 PM Categories: Motor Insurance PIAM
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MH17 incident may or may not be covered under travel PA 

Insurance News

  -  July 31, 2014
The travel PA may or may not cover the MH17 incident, depending on the exclusions and the cause of the incident. According to PIAM while acts of terrorism are covered by many travel PA policies, they are subject to underwriting and are dependent on the area of travel. Meanwhile an act of war is excluded under all circumstances.  http://bit.ly/TAS140731b 

 

Thursday, July 31, 2014 6:18:00 PM Categories: PIAM
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PIAM also waives death certs 

Insurance News

  -  May 27, 2014
PIAM has decided to follow suit: not requiring death certs for MH370 claims.  http://bit.ly/TAS140527a 

 

Posted by Loo Hai Tuesday, May 27, 2014 7:16:00 PM Categories: PIAM
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