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, 30 November 2008
AmAssurance Surrenders Composite Licence
AmAssurance will surrender its composite insurance licence from 1 December 2008 with creation of 2 separate entities: AmLife Insurance Berhad and AmG Insurance Berhad carrying out life insurance and general insurance respectively. AMAB Holdings Sdn Bhd is the new holding company for these 2 entities.Meanwhile IAG will increase its holding in AmG from 30% to 49% and dispose off its 30% holding in AmLife to Friends Provident. The transaction prices are:
- 19% of AmG: RM141 mil
- 30% of AmLife: RM170 mil
Source: Bursa Malaysia
Labels: AmAssurance, Friends Provident, IAG, 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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