Insurance News
Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Sunday, 13 April 2008
STMB Consolidates
Syarikat Takaful Malaysia Bhd (STMB) will finalise the consolidation of its branches with those of Bank Islam by year end.The number of branches of STMB will reduce to 70 from the current 100. The benefits of consolidation are cost savings and more effective bancatakaful.
Other initiatives of STMB are:
- Expand alternative distribution channels: corporate agency, tied agents and financial advisers.
- Implement electronic imaging.
- Roll out 1st structured investment product by end of April.
STMB also expects the talk with strategic partners would bear fruits within the next 2 months. Currently 2 potential partners are involved: Abu Dhabi-Kuwait-Malaysia Strategic Investment Corp and Islamic Arab Insurance Co PJSC.
Source: The Star
Labels: Bancassurance, Merger, Products, Takaful Malaysia
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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