Hong_Leong_Assurance

HLA wins Domestic Life Insurer of the Year award

Hong Leong Assurance (HLA) was named Malaysia’s Domestic Life Insurer of the Year by Asian Banking and Finance’s inaugural Insurance Asia Awards 2016. With a total of 12 categories per country and four regional awards, HLA is the first insurance company to be awarded Domestic Life Insurer of the Year…

great-eastern-takaful

Great Eastern Takaful Eyes 20 Per Cent Rise In Customer Base In 2016

Great Eastern Takaful Bhd, the Islamic insurance arm of the Great Eastern group, is eyeing a 20 per cent increase in its customer base this year from the current 400,000 customers, buoyed by their existing and upcoming products. Chief Executive Officer Zafri Ab Halim said the group will be launching…

LIAM

Life Insurance Sector Has Growth Potential, Says MII

Malaysia’s dynamic life insurance sector has the potential to grow with the still large insurance protection gap, says the Malaysian Insurance Institute (MII). Chairman Hashim Harun said only 56 per cent of Malaysians are reportedly insured, compared to the target of 75 per cent by 2020 under the Economic Transformation…

zurich-logo

Zurich, BP Healthcare Introduce Comprehensive Personal Accident Insurance

Zurich Insurance Malaysia Bhd has partnered with BP Healthcare Group to introduce a comprehensive personal accident insurance, Active Living, specially designed for those in their prime between the ages of 40 and 60. General Insurance President David Fike said Active Living is the country’s first personal accident plan that covers…

khazanah

Sun Life & Khazanah eyes control of Hong Leong insurance arm

Canada’s Sun Life Financial Inc and Malaysian sovereign wealth fund Khazanah Nasional are in talks to buy the insurance business of Hong Leong Financial Group Bhd, two banking sources said. The deal, valued by the sources at RM3bil, would allow the Canadian firm to expand further into growing Asian markets…

Employment Insurance Scheme Ready To Be Tabled

A Cabinet paper on the proposed Employment Insurance Scheme (EIS) to assist retrenched workers is ready to be tabled in Parliament by early next year at the latest. Human Resources Minister Datuk Seri Richard Riot Jaem said the scheme, which required workers and employers to contribute as practised in the…

Helpful Tips on insurance

What Do You Do If Your Car Gets Stolen?

Car insurance, although it requires you to fork out a big sum for the premium, is vital as it ensures that your car and you are safe while driving and even when you’re parked. Yes, the car insurance premium can be reduced by lowering the sum insured, but it would…

malaysia landmark

Malaysia plans insurance fraud detection system

Insurance industry officials in Malaysia are considering a system that will detect potential fraud and allow member companies to take appropriate action in a move to cut the rising cost of motor claims. Antony Lee Fook Weng, chairman of the General Insurance Association of Malaysia, said all stakeholders in the…

lonpac insurance

LPI Capital Q2 earnings surge to RM213mil

Insurer LPI Capital Bhd’s earnings jumped 148% to RM212.62mil in the second quarter ended June 30, 2016 from RM85.74mil, boosted by its stronger underwriting profit and also equity investment. It told the stock exchange in a filing that its revenue rose 11.3% to RM339.25mil from RM304.73mil. Earnings per share were…

bank_negara

Bank Negara Appoints Abdul Rasheed As New Deputy Governor

Bank Negara Malaysia (BNM) has appointed Shaik Abdul Rasheed Abdul Ghaffour as deputy governor for a three-year term, effective July 16, 2016. “As deputy governor, Abdul Rasheed will be responsible for the financial sector regulation and development, including payment systems as well as the international reserve management and money market…