FGV sells insurance stake for RM70mil
Felda Global Ventures Holdings Bhd (FGV) has agreed to dispose of its 16% stake in AXA Affin General Insurance Bhd (AAGI) to Affin Holdings Bhd (AHB) for more than RM70mil, said sources familiar with the matter. The transaction is set to unlock substantial cash for the planter’s coffers, as FGV…
‘No mandatory hospitalisation’
Health Insurance providers should do away with mandatory admissions at hospitals – as a requirement for medical claims – because many procedures can be done within a day now. Most public hospitals now carry out minimal invasive surgeries which require shorter hospitalisation to maximise the use of resources and reduce…
Tokio Marine eyes RHB’s general insurance unit
Tokio Marine Holdings has been engaged in discussions to buy Malaysian RHB Bank’s general insurance unit. If the deal materialises, the Japanese insurer will also be allowed to sell products through the Malaysian lender’s branches. RHB, Malaysia’s fourth-biggest lender, expects the buyer to pay between 3 to 3.5 times the…
Life Insurance Records Strong Performance In First Half Of 2016
The Malaysia life insurance industry recorded a strong performance in the first half of 2016 with a 20.8 per cent growth registered in new business weighted premium. Life Insurance Association of Malaysia (LIAM) said new business weighted premium registered RM2.44 billion compared with RM2.02 billion recorded in the same period…
Ravinder’s Online Approach To Insure More Malaysians
Malaysians often perceive insurance as an expensive and complicated investment that involves a long application process, says U for Life Sdn Bhd founder Ravinder Singh. There are over hundreds of insurance products offered by 14 life insurance and 11 takaful companies in the country, hence the people are spoilt for…
IJM Land underwrites insurance schemes
In a move to mitigate unemployment fears and its effect on property sales, IJM Land Bhd is working with insurance companies Allianz Life Insurance Malaysia Bhd and Allianz General Insurance Company (Malaysia) Bhd to underwrite three insurance schemes for house buyers for 36 months from the date of signing the…
AmMetLife Launches Endowment Plan To Protect Financial Goals
AmMetLife Insurance Bhd has launched a non-participating limited premium payment endowment plan, WealthSecure Smart. It has guaranteed cash payments every year, starting from the end of the first year of the policy. AmMetLife is a joint venture between AMMB Holdings Bhd and MetLife International Holdings Inc. In the statement Wednesday,…
End of bancassurance deal with CIMB won’t hurt Allianz
Allianz Malaysia Bhd’s bancassurance agreement with CIMB Group Holdings Bhd, which is likely to be terminated upon expiry next year, will not adversely impact the insurer. Maybank Investment Bank (Maybank IB) Research said the impact from the expected termination would be “fairly negligible” at this stage. The research house said…
AXA Affin General Insurance is Asia Best Employer Brand
AXA Affin General Insurance Bhd (AAGI) has been named the winner of the Asia Best Employer Brand for 2016, in the Asia Best Employer Brand Awards. The award recognises employers who create a culture of contribution and innovation at work, practice being a social employer and develop future leaders. In…
Manulife Keen To Have Takaful Arm
Manulife Holdings Bhd is still keen to venture into the takaful segment in Malaysia to complement its existing products, said Chief Executive Officer, Mark O’Dell. He said the move into the syariah-compliant insurance segment was still an unfulfilled ambition for the group. It could materialise one day either via organic…
