Malaysia is weighing tougher enforcement of a cap on foreign ownership of insurers as it seeks to boost local participation in the industry, people with knowledge of the matter said. The central bank is considering more strictly applying an existing …
Warren Buffett’s Berkshire Hathaway has won a license to provide reinsurance services in Malaysia, the billionaire investor’s group said, as it expands operations in Asia. Berkshire Hathaway Specialty Insurance Co. (BHSI) said in a statement it has established an office …
JLT Re, the London-based reinsurance broker and consultant, announced the appointment of Jonathan (Jo) Garnett as managing director, Malaysia, subject to regulatory approvals. Garnett will be based in JLT Re’s Kuala Lumpur office and will report to Stuart Beatty, CEO, …
Tokio Marine Holdings Inc, is in exclusive talks to buy RHB Bank’s general insurance unit in a deal that also includes an agreement to distribute the Japanese insurer’s products through the Malaysian lender, people familiar with the matter told Reuters. …
Zurich Insurance Co. Ltd., a subsidiary of Zurich Insurance Group, has completed the acquisition of MAA Takaful Berhad (MAAT), a leading provider of Takaful products in Malaysia, from MAA Group Berhad and Solidarity Group Holding BSC. The combination of MAAT’s …
Among all financial products, bancassurance perhaps comes closest to fitting Einstein’s theory of insanity: Insurers have been conducting the same sorry experiment again and again, expecting different results. Right now, it’s Asia’s turn to be gripped by madness as firms …
Sompo Japan Nipponkoa Holdings Inc. is nearing an agreement with CIMB Group Holdings Bhd. to distribute general insurance products through the Malaysian lender’s branches across Asia, people with knowledge of the matter said. Japan’s third-largest general insurer could pay about …
Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge of the matter said. CIMB could fetch …
QBE Insurance Malaysia has opened a new office in the heart of Kuala Lumper city, expanding the company’s branch network in the country to a total of 15 locations, across eight states. QBE Insurance Malaysia, which is part of the …
The hijacked oil tanker Orkim Harmony has been released by pirates, who fled in the ship’s rescue boat, Malaysian navy and maritime officials said on Friday. The Orkim Harmony, hijacked on June 11 off the Malaysian coast by pirates reportedly …
