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, 10 March 2009
No plan to sell stake in AIG General
AIG General Insurance Bhd does not plan to sell a stake in the company and in fact is open to acquire other general insurers. However, the focus is for internal growth with objective of achieving 5% growth in 2009.Other statistics on the company:
- plan to double its size and profit by 2012
- 2008 gross written premiums: RM494.7 mil (30% motor, 20% PA/travel, rest: commercial lines)
- 2008 net profit: RM36.9 mil (14% lower compared with 2007)
- 2007 gross written premiums: RM442.6 mil
- Agency size: 2,500, 20% growth target in 2009
- Solvency ratio: 220%, paid-up capital: RM310 mil (RM220 mil in liquid assets and cash)
Source: Business Times
Labels: AIA/AIG, Business Targets, 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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- Meet the President of IAAust
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- Affin to acquire stake in BH Insurance
- HSBC Amanah Takaful has new CEO
- AIA and RHB in bancassurance tie-up
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