UNITED States insurer Liberty Mutual will be applying for regulatory approval to acquire Malaysia’s AmGeneral Insurance Bhd (AmGeneral). AmGeneral is currently 51 per cent owned by AmBank Group and 49 per cent owned by Insurance&hellip
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Allianz projects weak growth for motor insurance this year
Allianz Malaysia Bhd has projected a weak growth for motor insurance this year in line with the slump in vehicle sales during the lockdown period. Chief executive officer Zakri Khir said Phase One of Movement&hellip
France’s Axa to sell Malaysia insurance businesses to Generali
Axa has signed an agreement with Italian rival Generali to sell its insurance businesses in Malaysia for about 140 million euros (US$166.64 million), the French insurer said on Tuesday. In a statement, Axa said it&hellip
New NGO to help unfairly treated insurance claimants
The MCA Civil Society Movement Bureau has set up a non-governmental organisation to seek justice for unfairly treated insurance claimants, says its chief Ng Kian Nam. “The Campaign To Protect The Right Of Insurance Consumers&hellip
Motorists share struggles dealing with auto insurers, Bank Negara
Motorists are frustrated over problems caused by automotive insurers and the inefficiency of Bank Negara Malaysia’s (BNM) dispute resolution department, the Ombudsman for Financial Services (OFS). During a virtual press conference organised by Bangi MP&hellip
Insurer AXA hit by ransomware after dropping support for ransom payments
Branches of insurance giant AXA based in Thailand, Malaysia, Hong Kong, and the Philippines have been struck by a ransomware cyber attack. As seen by BleepingComputer yesterday, the Avaddon ransomware group claimed on their leak&hellip
Liberty Insurance expects a sharp V-shaped recovery for motor insurance
Liberty Insurance Bhd expects a sharp V-shaped recovery for motor insurance from June 2021 onwards but a prolonged U-shaped recovery in non-motor segment till the fourth quarter (Q4) 2021. Chief executive officer Puneet Pasricha said&hellip
Chubb launches MY Smart Car Insurance for low mileage drivers in Malaysia
Chubb announced today the launch of MY Smart Car Insurance, a flexible, yet comprehensive mileage-based car insurance product tailored specially for low mileage drivers in Malaysia. With the rapid development of the country’s public transportation&hellip
AXA launches enhanced business protection plan
AXA Affin General Insurance Berhad (AXA) has launched an enhanced product, ‘Business Advantage Plus (Enhanced)’ or BAPE, to provide small and medium-sized enterprises (SMEs) with continuous protection and financial support. This business protection plan is&hellip
Allianz’s earnings increase in FY20 on higher gross written premiums
Allianz Malaysia Bhd’s net profit increased 5.7 per cent to RM520.33 million during the financial year ended December 31, 2020 (FY20) from RM492.48 million recorded in FY19. The group’s revenue in FY20 increased 7.4 per&hellip
