Saturday, July 22, 2017

Malaysia

More growth in Malaysian insurance sector

More growth in Malaysian insurance sector

The sector is projected to post a high single-digit growth in new business premiums.

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Malaysia reminds foreign insurers of 70% ownership cap

Malaysia reminds foreign insurers of 70% ownership cap

Though the central bank says there are no new rules on foreign ownership in insurance companies.

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Malaysia’s new motor insurance pricing scheme starts

Malaysia’s new motor insurance pricing scheme starts

The insurance industry will see stiffer competition for motor premiums as liberalisation sets in.

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Malaysian insurers to develop digital platform

Malaysian insurers to develop digital platform

The deal will set the foundation for a full-service life insurance and takaful aggregator portal.

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Peak Re approved to open Labuan branch

Peak Re approved to open Labuan branch

The Hong Kong-based reinsurer has been granted approval-in-principle by the Labuan Financial Services Authority.

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Malaysian bank merger to create top general insurer

Malaysian bank merger to create top general insurer

RHB Bank and AmBank are in merger talks to form a US$9bn group and claim the top spot in general insurance.

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Tokio Marine to pare down stake in Malaysia business

Tokio Marine to pare down stake in Malaysia business

The move is part of Bank Negara Malaysia’s ruling for foreign insurers to cut their stake to 70% in local life insurers.

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Malaysian liberalisation could raise penetration rate to 75%

Malaysian liberalisation could raise penetration rate to 75%

The insurance and takaful penetration rate in the country has ranged between 54% and 56% over the last five years.

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Foreign insurers eyeing up Syarikat Takaful Malaysia

Foreign insurers eyeing up Syarikat Takaful Malaysia

A number of foreign insurers have reportedly expressed interest in acquiring the takaful operator.

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U Mobile, Sun Life ink insurance deal

U Mobile, Sun Life ink insurance deal

The partnership represents the first time any Malaysian telco has offered life insurance to its customers.

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Asian captive market offers room for growth

Asian captive market offers room for growth

Asian corporations are starting to appreciate the concept of having captives as an alternative risk-management tools.

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Philippine life market growing at rapid pace

Philippine life market growing at rapid pace

The sector is expected to register one of the fastest growth rates among emerging markets over the next nine years.

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Labuan records US$1.4bn rise in premiums

Labuan records US$1.4bn rise in premiums

Last year also saw the highest underwriting margin since 2012 due to the higher premiums and lower claims.

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Allianz and HSBC fail to reach Malaysia deal

Allianz and HSBC fail to reach Malaysia deal

The German insurer’s bid to buy HSBC Amanah Takaful has ended after the camps failed to find agreement.

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Axiata Digital closes US$16.8m investment in Swedish startup

Axiata Digital closes US$16.8m investment in Swedish startup

Insurtech player Bima brings microinsurance services to underserved families in emerging markets.

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MyCC issue a misunderstanding, says AIA

MyCC issue a misunderstanding, says AIA

AIA Malaysia has defended itself from allegations it participated in an anti-competitive agreement in the country.

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Berjaya Sompo appoints new CEO

Berjaya Sompo appoints new CEO

The Malaysian insurance company has appointed Tan Sek Kee as its new chief executive officer.

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Cathay Financial to buy Bank of Nova Scotia Malaysia unit

Cathay Financial to buy Bank of Nova Scotia Malaysia unit

The Taiwanese group said its bank and life insurance units plan to jointly acquire the Canadian bank’s subsidiary.

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