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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Thursday, 6 November 2008
Compesation Costs DBS up to S$80 mil
It will cost DBS Group S$70 mil to S$80 mil in compensating Lehman minibond investors in Singapore and Hong Kong.
Some facts:
- 3,300 investors in Hong Kong bought the product, amounting to S$257 mil.
- 1,400 investors in Singapore bought S$103 mil.
DBS admitted that there were cases where the sale did not meet DBS' standards.
Source: The Star
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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