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Actuarial

Friday, 27 June 2008

MAA Expects to be Back in the Black

MAA expects to write back RM49 mil and recover 40% of its NPLs by end of the year. Todate the group has recovered 15% of its NPLs.

The writeback of RM49 mil is thru handing over an interest rate swap transaction to a bank. FRS 139 accounting standards have negative impact on such swap arrangement.

MAA plans to launch 6 more products this year.

MAA is still in discussion with AmAssurance on strategic partnership for its general insurance and takaful business.

Source: Business Times

Labels: AmAssurance, MAA, Merger, Products

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: 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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