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.

Etiqa launched AUSpicious10 

Insurance News

23:31  -  Public
Etiqa launched a single premium capital guaranteed investment-linked product - AUSpicious10, with a tenure of 46 months. At the 18th policy month, policyholder is guaranteed a 5.8% cash payout. The ILP fund focuses on Australian shares. A life coverage of 125% of the capital is also provided.http://bit.ly/TAS1203a
Maybank targets RM300m from insurance plan AUSpicious10 »
Malayan Banking Bhd targets to raise RM300mil from AUSpicious10 – a single premium and capital guaranteed investment-linked insurance plan – when the fund closes on Dec 28, 2012.


Posted by Loo Hai Thursday, December 6, 2012 6:37:00 PM Categories: Etiqa Product
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Khazanah also bid for CIMB Aviva? 

The successful buyer of CIMB Aviva may be finalised this week. Khazanah may have also submitted a bid in addition to the 3 bidders reported yesterday.http://bit.ly/TAS1129a
Four suitors said to have submitted prices for CIMB Aviva bids »
PETALING JAYA: CIMB Group and UK-based Aviva Plc are expected to finalise the buyers of their 51% and 49% stakes respectively in joint venture CIMB Aviva Assurance Bhd this week, according to a source...


Posted by Loo Hai Thursday, December 6, 2012 6:31:00 PM Categories: Aviva CIMB Merger
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CIMB may pull out of CIMB Aviva 

Insurance News

17:22  -  Public
CIMB may sell its 51% stake in CIMB Aviva. The value of the entire CIMB Aviva's operations is estimated at US$1 bil. 3 companies (Prudential, Manulife and Sun Life) have made final offers to acquire CIMB Aviva.http://bit.ly/TAS1128b

KUALA LUMPUR: CIMB Group Holdings Bhd, Malaysia’s second-largest bank, is considering selling its 51 per cent stake in an insurance joint venture with Aviva Plc, said four people with knowledge of the matter.


Posted by Loo Hai Wednesday, November 28, 2012 5:25:00 PM Categories: Aviva CIMB Manulife Merger Prudential Sun Life
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AIA made 2 key appointments 

Insurance News

09:35  -  Public
And here's the news on AIA's new appointments, from the mainstream newspaper. Bill Lisle: new CEO. Khor Hock Seng: CEO of AIA Group Corporate Solutions based in Hong Kong.  Both effective 1 Dec 2012.http://bit.ly/TAS1128a
AIA announces two key appointments | theSundaily »
PETALING JAYA (Nov 27, 2012): AIA Group Ltd has appointed Bill Lisle to lead the integration of AIA and ING in Malaysia from Dec 1, reporting to the group's regional chief executive Ng Keng Hooi. Lisl...


Posted by Loo Hai Wednesday, November 28, 2012 9:42:00 AM Categories: AIA Executive Movement
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New CEO for AIA Malaysia 

Bill Lisle

It looks like AIA Malaysia has a new CEO.

Based on the sources from readers of Insurance News, Bill Lisle has taken over from Khor Hock Seng as the new CEO.

Bill Lisle became CEO of Prudential Malaysia (PAMB) in April 2008 after serving as its general manager of business distribution for 3 years. He left PAMB in February 2009 to join Aviva Asia as a regional director.  In September 2010, Bill joined AIA as its Group Chief Distribution Officer.

According to our reader, Khor Hock Seng will take on a regional role as CEO of regional group insurance.

Posted by Loo Hai Tuesday, November 27, 2012 9:34:00 PM Categories: AIA Executive Movement
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MoF Approves P&O's Divestment 

Insurance News

17:22  -  Public
MoF has granted its approval for the divestment of 49% of P&O to Sanlam.http://bit.ly/TAS1027a

KUALA LUMPUR: Pacific & Orient Bhd (POB) has yesterday received approval from the Minister of Finance via a letter from Bank Negara to dispose of its 49 per cent equity interest in Pacific & Orient Insurance Co Bhd to Sanlam Emerging Markets Proprietary Ltd.


Posted by Loo Hai Tuesday, November 27, 2012 5:31:00 PM Categories: Merger P&O
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Public Mutual Launches 6 PRS Funds and PRS Market Potential 

Insurance News

21:02  -  Public
PRS is expected to face a slow start with a potential market size of RM600 mil. Education and promotion are needed to boost the take-up rate. Meanwhile, Public Mutual today became the 4th fund manager to launch PRS with 6 funds.
http://bit.ly/TAS1126a http://bit.ly/TAS1126b
Slow start seen for private retirement funds »
PETALING JAYA: Despite competition heating up among private retirement funds, it is expected to take off at a slow pace as more education and promotion are needed to boost the take-up rate of these fu...


Posted by Loo Hai Monday, November 26, 2012 9:03:00 PM Categories: PRS Public Mutual
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