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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.

STMB pays RM110 mil for bancatakaful partnership 

STMB has entered into a 10-year exclusive bancatakaful deal with RHB Islamic Bank for a fee of RM110 million. The deal covers both family and general takaful products. http://j.mp/TAS150827a

Thursday, August 27, 2015 6:34:00 PM Categories: Bancassurance STMB
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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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Great Eastern Takaful partners Al Rajhi 

Great Eastern Takaful has partnered Al Rajhi Bank in bancatakaful by offering 2 products: i-Great Raudhah and i-Great Bakti. http://bit.ly/TAS150205a

Thursday, February 5, 2015 6:01:00 PM Categories: Bancassurance Great Eastern
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GE Takaful to distribute through Bank Muamalat 

Great Eastern Takaful has signed a bancatakaful agreement with Bank Muamalat. Products available through the channel include 3 credit-related takaful products, i-Great Bakti and M-Tiara Hajj. http://bit.ly/TAS141119a

Wednesday, November 19, 2014 9:59:00 PM Categories: Bancassurance Great Eastern
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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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BNM proposes to revamp distribution framework 

Insurance News

  -  November 8, 2013
The concept paper issued by BNM on "Life Insurance & Takaful Framework" is a major revamp of the OCC guidelines issued back in 1996. The implications are far reaching, covering agency remuneration limits, commission disclosure, availability of protection products without involvement of intermediaries, reducing the dominance of agency channel, enhancing consumer protection etc. What is your immediate reaction to the proposals in the concept paper? Glad, sad, motivated, demotivated, lost, etc?
Life Insurance and Family Takaful Framework - Concept Paper - BNM This concept paper sets out proposals that will support the long-term sustainable growth and development of the life insurance and family takaful industry with increased value proposition to consumers.

 

Posted by Loo Hai Friday, November 8, 2013 6:45:00 PM Categories: Bancassurance BNM Commission Financial Adviser Product Regulations
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Manulife to diversify distribution channels 

Insurance News

  -  October 15, 2013
Manulife wants to increase its 1,800 agents by another 200 by next year, focusing on full-time agents. The company currently distributed 97% of its products through agency channel and is looking to reduce this to 60-70% in the next 2 years with development of bancassurance and financial advisers channels.
Manulife seeks more full-time and committed agents to help achieve target - The Star PETALING JAYA: After having climbed the ranks to become one of the top-10 life insurers in Malaysia, Manulife Insurance Bhd is banking on its multi-distribution channels to compete for a larger slice of the competitive insurance market.

 

Posted by Loo Hai Tuesday, October 15, 2013 5:28:00 PM Categories: Bancassurance Manulife
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