In 2020, Malaysia's general insurance market outperformed the country's overall economy. While the Malaysia's GDP is forecasted to have dropped by 4.5% last year, general insurance premiums remained almost stable. This is one of the key findings of the Malaysian Insurance Highlights, a market survey by Malaysian Re.
Great Eastern Holdings' total weighted new sales (TWNS) rose 23% y-o-y to S$1,545.3 million (US$1,172.2 million), according to its financial results for year ended 31 December 2020.
Medical and health insurance policies issued by general insurers do not provide coverage for pandemics such as COVID-19, said the General Insurance Association of Malaysia (PIAM).
A trio of Covid-19 related risks ranks at the top of Allianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (#1 with 41% responses) and Pandemic outbreak (#2 with 40%) are this year's top global business risks with Cyber incidents (#3 with 40%) ranking a close third.
FWD Group has launched its first-ever podcast series: Changing the way people feel about insurance... with FWD. The podcast will offer insights into FWD's innovative approach and areas of expertise as well as the exciting trends in Asia's dynamic insurance industry.
Dah Sing Insurance has appointed Terence Leung as Director and Chief Executive Officer with effect from November 2020.
Strong capitalization, steady product margins and resilient premium growth underpin a stable outlook for the Asia Pacific insurance sector, according to a new report published by Moody's.
IKEA has rolled out a home contents insurance offering called HEMSÄKER, underwritten by Etiqa General Insurance Berhad.
Most financial advisers do not fully embrace the potential of the general insurance business. One of the main reasons is that intermediaries in the sector are often stuck with a tiresome manual workflow where they spend most of their time on administrative work. Asia Advisers Network spoke with the founders behind insurtech firm Surer, which aims to revolutionalise the way general insurance business is done.
The General Insurance Association of Malaysia (PIAM) has appointed Julie Lean Gim Chong as the CEO designate. There is a phased handover transition until she takes over the duties of immediate past CEO, Mark Lim Kian Wei who relinquished his post as CEO with effect from 15 November and will take on an advisory role until his retirement in mid-January 2021.
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