takafl_malaysia

Takaful confirms buying RM85 million 1MDB sukuk bond

Syarikat Takaful Malaysia Berhad (Takaful Malaysia) today revealed that it bought a RM85 million Islamic bond from 1Malaysia Development Berhad (1MDB) in 2009, but the Islamic insurance company assured that the investment was low-risk. Takaful Malaysia group managing director Datuk Seri Mohamed Hassan Md Kamil said the bond was purchased…

AIA

AIA appoints first woman CEO from Asia-Pac

KUALA LUMPUR: Life insurer AIA Bhd has appointed its first ever woman chief executive officer from the Asia-Pacific region. Anusha Thavarajah, who joined the firm in October 2011 as deputy general manager of finance and actuarial, takes over from Bill Lisle, who has been appointed regional chief executive overseeing the…

takafl_malaysia

Takaful Malaysia on the lookout for M&A

Syarikat Takaful Malaysia Bhd, which expects a record year in 2015, is looking to buy a local takaful company in 2017 as composite insurers and takaful players will be required to split their life and general insurance businesses under separate licences by 2018. “With the restructuring that will take place,…

zurich insurance

Zurich Insurance sees opportunities in Malaysian, global markets

KUALA LUMPUR: Composite insurer Zurich Insurance Malaysia Bhd continues to see opportunities in the outlook of both the global and Malaysian markets, as fundamental dynamics will continue to give the current market rally legs. The company, which is headquartered in Switzerland, said that there were good investments overseas, as markets…

uforlife

U for Life launches industry’s first online life insurance platform

7 May 2015 KUALA LUMPUR: U for Life Sdn Bhd, an online platform provider, launched the country’s first internet insurance platform to issue e-policies instantly, on Tuesday. Hannover Re, with a gross premium of around EUR 14.0 billion, is the third-largest reinsurer in the world, is a principle shareholder in…

tune insurance

Tune Ins buys majority stake

6 May 2015 (TheStar) PETALING JAYA: Tune Ins Holdings Bhd is acquiring a majority stake in Indonesian insurer PT Asuransi Staco Mandiri (ASM) for about RM22.8mil. The insurance products manager yesterday entered into two agreements with selling shareholders of ASM, which will see it owning a controlling interest or a…

Helpful Tips on insurance

The extent of an insurer’s liability in a third party claim

IN Malaysia, it is mandatory under the Road Transport Act 1987 (RTA) for you to insure your vehicle against damage and/or third party risks. A third party insurance policy insures you against risks such as death and injury to a third party as well as damage to the third party’s…

ICC

No increase in aviation premiums

29 April 2015 KUALA LUMPUR: Global aviation insurance premiums have not increased despite the recent string of aviation incidences due to the “soft” market condition, said Clyde & Co, Singapore, Of Counsel, Peter Boys. Boys said insurance premiums have not increased yet but the incidents have spurred insurers to re-look…

tune insurance

Tune Ins set for US$10 million Indonesian acquisition

Tune Ins Holdings Bhd, the insurance arm of Tune Group, will set aside about US$10 million (RM35.4 million) to acquire an insurance firm in Indonesia. Tune Insurance chief executive officer, Junior Cho, said the commercial terms of the acquisition had been finalised and the company was awaiting regulatory approvals from…

The Malaysian Trades Union Congress

MTUC wants 24/7 workers’ insurance cover

29April 2015 GEORGE TOWN: The Malaysian Trades Union Congress (MTUC), the country’s main worker’s organisation, has called for round-the-clock Socso insurance coverage given the rapidly increasing number of road deaths in the labour force. “Most accidents occur after working hours.” MTUC Penang branch chairman N. Ravindran, in calling for the…