The Qatar Financial Centre Authority (QFC Authority) has signed a Memorandum of Understanding (MoU) with Labuan IBFC Inc, to develop long term cooperation and boost economic and financial sector ties between the two financial centres.
AIA PUBLIC Takaful has announced the appointment of Mahani binti Amat as its board chairperson with effect from 6 April 2021. She succeeds Dato' Thomas Mun Lung Lee, who retires after successfully completing his tenure of directorship with the company.
Labuan International Business and Financial Centre (Labuan IBFC) charted strong captive growth in 2020, with its total number of captives increasing by 15.4% over 2019, according to trade publication, Captive Review, which recently released its World Domicile Update 2020.
The Life Insurance Association of Malaysia (LIAM) has re-elected Loh Guat Lan, CEO of Hong Leong Assurance as LIAM president at its 47th Annual General Meeting held on 31 March 2021. She is supported by Raymond Lew, CEO & president of Sun Life Malaysia Assurance who has been appointed as the new vice president for the term 2021/2022.
Zurich Malaysia (Zurich) and Singapore-based fintech BetterTradeOff, today launched 'Up ' MyZurichLife', a financial planning solution exclusively for MyZurichLife's users to help them plan for their future.
The life insurance industry recorded a dip of 3.2% in new business total premiums from MYR11.8bn in 2019 to MYR11.4bn in 2020, according to a statement issued by Life Insurance Association of Malaysia (LIAM).
Malaysian Re released the second issue of its Malaysian Insurance Highlights 2020 in late February, covering the development of the insurance industry throughout the year - examining the impact of the COVID-19 pandemic on Malaysia's economy and its insurance markets. We spoke to president and CEO Zainudin Ishak about the results and its implications on the industry's future.
The health and medical insurance segment in Malaysia is experiencing growth driven by greater demand, although Malaysia's non-life insurance industry is likely to have contracted in 2020 amid the COVID-19-fuelled economic disruptions, says AM Best.
The combined ratio for motor business in Malaysia improved by 6% y-o-y to 98.3% in 2020 as lockdown measures imposed for much of the year led to a reduction in economic activity and overall vehicle usage.
Indonesia-based omnichannel InsurTech Qoala has made a strategic acquisition of FairDee, a Thai InsurTech, with the new partnership further expanding Qoala's reach in Southeast Asia.