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, 23 May 2009
BNM assumes control of Tahan
BNM has assumed control of Tahan Insurance Malaysia Bhd as the latter failed to comply with capital requirements and non-fulfilment of the capital restoration plans. PwC has been appointed to assume control of the insurer and the aim is to turn around the insurer within a year.Tahan had a shortfall of RM29.22 mil in capital as at end of 2006, failing to meet the absolute minimum capital of RM50 mil. It is understood that Tahan's CAR is 100%, below RBC minimum CAR of 130%.
Related stories: Resignation of Tahan's CEO, Various M&A proposals on Tahan
Source: The Star, Business Times 1 & 2, BNM
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
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- Great Eastern's Targets
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