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, 6 April 2009
MAA not under receivership
MAA has denied the rumour that the group has been placed under receivership over unpaid debts.MAA said that its only loan of RM200 mil bond has been serviced promptly to date. It also denied that it was selling its life insurance division.
Other business statistics:
- FY2008, net loss of RM70 mil, revenue RM2.21 bil
- Recoveries from NPL: RM251.58 mil FY2008
- NPL at 31/12/2008: RM450.48 mil, at 31/12/2007: RM649.92 mil
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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