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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.

Life insurance industry expects strong single digit growth in 2015 

The life insurance industry's new business APE grew 5.5% in 2014 to reach RM4.71 bil. The sum assured per capita increased to RM38,449 in 2014 from 36,387 in 2013. For 2015, the industry is expected to achieve a strong single digit growth. http://bit.ly/TAS150213a

Friday, February 13, 2015 6:40:00 PM Categories: LIAM Outlook
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DLS framework for takaful to be implemented in 2016 

The takaful and insurance benefits protection funds will hit RM1.3 bil by end of 2015, according to PIDM. The corporation is developing a risk assessment and monitoring system which can predict the changes in insurers' ratings. The Differential Levy System (DLS) framework for takaful operators is targeted to be implemented in 2016. http://bit.ly/TAS150211a

Friday, February 13, 2015 6:37:00 PM Categories: PIDM
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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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AmG launched Perfect Rider Plus 

AmG has launched Perfect Rider Plus, the enhanced version of its previous Perfect Rider plan and aims to secure 20,000 policy holders with targeted premium of RM10 mil. http://bit.ly/TAS150209a

Monday, February 9, 2015 3:52:00 PM Categories: AmG Product
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Couple alleged misled by agent 

A couple has alleged that they were misled by their agent into buying 3-generation policies. The policies are supposed to provide protection that covers 3 generations but they found out that the premiums are instead to be paid by 3 generations! http://bit.ly/TAS150205c

Thursday, February 5, 2015 6:09:00 PM Categories: Mis-selling Product
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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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