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.

Elmie the new CEO of AIA Public Takaful 

AIA Public Takaful has appointed Elmie Aman Najas as its new CEO, with effect from 15/1/2015. Elmie was chief agency officer of AIA's central region prior to this appointment. http://bit.ly/TAS150204a

Wednesday, February 4, 2015 8:57:00 PM Categories: AIA AIA PUBLIC Executive Movement
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Insurers not badly affected by floods 

Insurers in Malaysia are not likely to be badly affected by the recent floods. Although the flood losses are estimated to be up to RM2 bil by the government, the insured losses are much lower given the low insurance penetration rate as well as due to the fact that flood damages are not automatically covered. Insurers' losses would have also been capped by reinsurance. http://bit.ly/TAS150203a

Tuesday, February 3, 2015 9:01:00 PM Categories: Ratings
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AXA Affin aims for 0.5% improvement in market share 

AXA Affin General's GWP grew approx 18% in 2014, outperforming the market growth of 6%. Their market share also improved from 6% to 6.8%. The company is targeting to gain 0.5% market share each year. http://bit.ly/TAS150202a

Monday, February 2, 2015 9:13:00 PM Categories: Axa Affin
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Insurers paid RM16.8 million in MH370 claims 

The life insurance industry paid a total of RM16.8 mil in MH370 claims. This involves a total of 185 policies that were issued by 14 life insurance companies. http://bit.ly/TAS150130a

Friday, January 30, 2015 8:53:00 PM Categories: LIAM
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CIMB Insurance Brokers sold 

CIMB has sold its 49% stake in CIMB Insurance Brokers Sdn Bhd to HBG Asia Holdings. http://bit.ly/TAS150108a

Thursday, January 8, 2015 8:42:00 PM Categories: Merger
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Opportunities and challenges ahead 

Industry experts see both opportunities and challenges for the insurance industry in 2015. Challenges include margin squeeze due to GST, lower demand due to slower economic growth and the legal separation of life and general businesses. Opportunities include stronger demand in medical insurance and young and underinsured population. http://bit.ly/TAS141229b

Monday, December 29, 2014 9:14:00 PM Categories: Outlook
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Life and GI industries low risk 

S&P rates the life and general insurance sectors in Malaysia as low risk. The assessment was based on 5 factors: return on equity, barriers to entry, growth prospects, product risk and institutional framework. http://bit.ly/TAS141229a

Monday, December 29, 2014 9:11:00 PM Categories: Ratings
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