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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Saturday, 22 November 2008
MNRB posts poor Q2 results
MNRB has reported a net loss of RM13.3 mil in Q2 or RM7.55 mil loss in H1 on higher revenue. Reasons of the poor performance are:- Higher reinsurance claims due to disasters: heavy snowstorm and earthquake in China, floods in Jakarta, cyclone in Myanmar and storms in Europe
- Additional provision for diminution of investments in quoted securities
MNRB also dismissed rumours that its wholly-owned Takaful Ikhlas has attracted bids from three companies, as reported by the Malaysian Reserve.
Meanwhile, Takaful Ikhlas continues to deliver strong results with a net profit of RM6.35 mil, up from RM2.67 mil.
Source: The Star, Business Times
Labels: Merger, MNRB, Takaful Ikhlas
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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