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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Monday, 30 March 2009
Acquisition of MCIS to be completed by Sept 2009
EON Bank is expected to be MCIS Zurich's new major shareholder by end of Sept 2009. EON Bank is acquiring up to 40% of MCIS Zurich.Current shareholding structure:
- Koperasi MCIS: 43.7%
- Zurich Financial Services: 40%
- 4,000 minority shareholders: 16.3%
Business statistics on MCIS Zurich:
- Life insurance market share: 3.2%
- General insurance market share: 1.7%
- Pre-tax profits: RM44.6 mil (2008), RM30.4 mil (2007)
- Revenue: RM733.3 mil (2008), RM731.6 mil (2007)
- Total assets: RM3.1 bil (2008), RM2.9 bil (2007)
Earlier story on acquisition of MCIS Zurich.
Source: Business Times
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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