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, 30 May 2009
Manulife wants takaful licence
Manulife will apply for a new takaful licence by end of October. Malaysia recently announced that 2 new takaful licences would be granted this year.Takaful penetration rate is currently at 7%, lower than the 40% in the conventional side.
Manulife currently has a takaful operations in Indonesia and intends to expand to the Philippines, Thailand and China.
Manulife has not decided whether it will increase its stake in the operations in Malaysia following the liberalisation.
Manulife's targets in 2009:
- New business premiums: 5% more than RM63 mil achieved in 2008
- 2 protection-related products in 2009
Source: The Star
Labels: Business Targets, Liberalisation, Manulife, Products, Takaful
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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