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.
Insurance Job Advertisements
Thursday, 11 June 2009
Local entity may buy Pacific Insurance
Pacificmas has a good chance to dispose of its general insurance unit, Pacific Insurance, to a local unnamed entity. The entity is said to be willing to accept PacificMas' asking price and the deal is pending approval from BNM.Other information on Pacific Insurance:
- Book value as at 31/3/2009: RM123 mil
Under BNM's regulations, a company can only operate 1 insurance licence in Malaysia. OCBC owns Overseas Assurance Corporation (OAC) and Pacific Insurance in Malaysia. The deadline is October 2009 to dispose of Pacific Insurance or merge the 2 insurance entities.
Related stories: PacificMas' negotiations with other parties.Source: Business Times
Labels: Merger, OAC, Pacific Insurance
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
- HSBC enters China
- AmLife targets to recruit 1,500 female agents
- "A-" for both Malaysian Re and Labuan Re
- ValuePac
- Asia Jade
- Aon the new MU shirt sponsor
- Nan Shan is now cheaper
- Securitisation of takaful contributions
- Manulife wants takaful licence
- MAA's deal expected to conclude in Q4
Subscribe to
Posts [Atom]
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home