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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Monday, 5 May 2008
Foreign Partners to Help STMB Going Abroad
Syarikat Takaful Malaysia Berhad (STMB) is counting on it new partners to assist the Company to expand outside Malaysia. STMB is currently in talk with Abu Dhabi-Kuwait-Malaysia Strategic Investment Corp and Islamic Arab Insurance Co PJSC for the new partners to take up a 49% stake in STMB.Some of the benefits the new partners can bring in for STMB include:
- To distribute STMB's products in the Gulf through collaboration with Middle Eastern banks. Applying for a licence in the Gulf is ruled out as the industry there is already competitive.
- With the new fund from the new partners, to channel 1/3 into Indonesia to invest in IT infrastructure and distribution network.
- To explore new markets in China and the UK.
Source: The Edge Malaysia May 5, 2008
Labels: Business Targets, Merger, 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.
Previous Posts
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