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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Tuesday, 7 October 2008
Kurnia's RM400 mil Capital Injection
Kurnia plans to inject RM400 mil capital to strengthen its paid-up capital to RM600 mil.On regional expansion, Kurnia has acquired PT Kurnia Insurance Indonesia (mid-size general insurer), and plans to acquire Kurnia Insurance Thailand Co Ltd. There is also a joint-venture in Cambodia undertaking general and life insurance businesses.
Unaudited financial results for FY2008 ending 30 June:
- Net loss of RM301.8 mil (FY2008) vs net profit of RM2.5 mil (FY2007)
- Loss per share 20.26 sen (FY2008) vs earnings per share 0.17 sen (FY2007)
- Gross premium income: RM1.12 bil (FY2008) vs RM1.11 bil (FY2007)
- Increase in technical reserves to RM1.88 bil to comply with RBC requirements
- Investment income: RM93.2 mil (FY2008) vs RM182 mil (FY2007)
- Organisation leadership
- Growth in non-motor sectors
- Distribution
- Underwriting
- Claims
Labels: Business Targets, Kurnia, Merger
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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- Plenty of Buyers for Philamlife
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