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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Wednesday, 8 April 2009
Rationalisation of insurance arms
The disposal of HLTMT as per our earlier post is part of the bigger picture of rationalisation of the equity holdings in insurance/takaful companies by Hong Leong Group. The ultimate aim is to park everything under HLAH.
In addition to the corporate exercise as per our earlier post, the following will also occur:
- HLA currently has an indirect wholly-owned subsidiary: Hong Leong Insurance (Asia) Limited, or previously known as Dao Heng Insurance Co., Ltd which undertakes general insurance business in Hong Kong. This will be moved to be directly under HLAH
- The 10% of HLTMT currently owned by HLA will also be moved to HLAH
The proposed rationalisation is expected to be completed by Q2 2009.
Source: Bursa
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.
Previous Posts
- Hong Leong Bank to dispose of HLTMT
- Retirement planning in Malaysia
- TakafulmyJalinan
- HLA's Perfect Series
- Prudential buys over agents
- MAA not under receivership
- Resignation of 3 CEOs
- Impact of economic downturn on GI industry
- ASCAP in dispute with ACE INA
- Kurnia defers Cambodian venture
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