Friday, April 27, 2018

Malaysia

Malaysia’s KWAP set to close insurance acquisition

Malaysia’s KWAP set to close insurance acquisition

The retirement fund’s chief executive said the fund is currently talking with two foreign insurers.

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Malaysia first

Malaysia first

Foreign insurers have until the end of June to cut their ownership to 70%, but local buyers are scarce.

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Maybank eyes listing of its insurance arm Etiqa

Maybank eyes listing of its insurance arm Etiqa

The rumoured sale is estimated by some analysts to be worth at least US$1 billion but remains unconfirmed.

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Maybank bullish on Etiqa’s future

Maybank bullish on Etiqa’s future

The insurance and takaful arm of Maybank is expected to see a boost as a result of increasing interest rates.

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No alternatives, Malaysia tells foreign insurers

No alternatives, Malaysia tells foreign insurers

They will have to fulfil their commitment to sell 30% of their operations to local shareholders by June 30.

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Cathay Life’s move on Bank of Nova Scotia’s Malaysian unit fails

Cathay Life’s move on Bank of Nova Scotia’s Malaysian unit fails

The Taiwanese financial group did not give details on why the deal fell through, but said it wasn’t about price.

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AIA chief becomes first female president of LIAM

AIA chief becomes first female president of LIAM

Anusha Thavarajah will be the first woman elected president in the association’s 44-year history.

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Malaysia to revise takaful framework

Malaysia to revise takaful framework

The new approach aims to create an environment that fosters innovation, according to the central bank.

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Foreign majors seek ownership rule review in Malaysia

Foreign majors seek ownership rule review in Malaysia

AIA, Great Eastern, Prudential and Tokio Marine say they are struggling to find suitable local partners.

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Etiqa reports record profits for 2017

Etiqa reports record profits for 2017

The Malaysian insurer said its pre-tax earnings reached a record US$280m, up 18.5% from 2016.

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Prudential’s Malaysian unit eyes stake sale

Prudential’s Malaysian unit eyes stake sale

The sale of a 30% stake to Kumpulan Wang Persaraan could generate proceeds of about US$435m.

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Is the end nigh for retakaful?

Is the end nigh for retakaful?

The small and fragmented market is struggling to compete with competition from conventional players.

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Malaysia’s general insurance, takaful to stay flat in 2018

Malaysia’s general insurance, takaful to stay flat in 2018

Competitive pressures, tariff liberalisation and weak consumer sentiment are all affecting the industry.

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Khazanah unit to sell its Turkish insurance business

Khazanah unit to sell its Turkish insurance business

The Malaysian sovereign wealth fund is seeking to dispose of Istanbul-based Acibadem Sigorta.

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IAG sees ‘limited’ Asia opportunities

IAG sees ‘limited’ Asia opportunities

The Australian group is conducting a strategic review of its US$630m investment in the region.

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Great Eastern may sell minority stake in Malaysian unit

Great Eastern may sell minority stake in Malaysian unit

Malaysia’s largest pension fund, Employees Provident Fund, is reportedly in talks to buy the US$1bn stake.

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AXA to open shared service centers in Manila, Kuala Lumpur

AXA to open shared service centers in Manila, Kuala Lumpur

Company officials say the new centres will become information technology hubs for Japan and the rest of Asia.

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Malaysia’s Great Eastern Takaful appoints new CEO

Malaysia’s Great Eastern Takaful appoints new CEO

Shahrul Azlan Shahriman, former Prudential BSN Takaful head of distribution, took up the job on Monday.

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