Wednesday, September 20, 2017

Malaysia

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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Swiss Re Corporate Solutions opens KL office

Swiss Re Corporate Solutions opens KL office

The office will function under a Labuan FSA reinsurance licence and will be led by Juerg Stoll.

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Penalty against 22 insurers in Malaysia not final

Penalty against 22 insurers in Malaysia not final

The Malaysia Competition Commission has said the general insurers still have 30 days to appeal their case.

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Regulations to alter Malaysia’s life insurance industry

Regulations to alter Malaysia’s life insurance industry

Bank Negara Malaysia’s upcoming regulatory changes will make it tough for part-time insurance agents to survive.

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Malaysia’s takaful industry posts double-digit growth

Malaysia’s takaful industry posts double-digit growth

The Malaysian Takaful Association says 2016 represented another year of good growth for Islamic insurance.

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Malaysia crafts new privacy rules for banks, insurers

Malaysia crafts new privacy rules for banks, insurers

The act aims to protect data privacy and security by laying down codes of conduct in specific industries.

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Malaysia market tipped to post higher growth in 2017

Malaysia market tipped to post higher growth in 2017

Hopes are high for the industry to post better growth this year as consumer confidence improves.

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