Public Bank, among Malaysia's top three banks, has entered into a conditional sale and purchase agreement with the Estate of the Late Tan Sri Dr Teh Hong Piow and Consolidated Teh Holdings (ConTeh) to acquire a stake in LPI Capital.
insureKU, a Malaysian end-to-end digital insurance and takaful aggregation platform, has officially launched its consumer-focused platform with a selection of curated travel related solutions.
Persatuan Insurans Am Malaysia (PIAM) has appointed Mr Chua Kim Soon as CEO. He succeeds Ms Julie Chong. In his new role, he will work together with PIAM's chairman, Mr Ng Kok Kheng, and its board of directors to advance its vision as a dynamic trade association by collaborating closely with stakeholders to support various initiatives within the industry.
London-headquartered MNK Group has launched Mekong Re, a reinsurance company with a strong suit in niche and specialty solutions, in Labuan, Malaysia.
Participating life insurance policies have seen a significant decline in their share of net premium in the life insurance and family takaful sector in Malaysia in recent years, according to an article in the "Financial Stability Review 1st Half 2024" publication released by the central bank, Bank Negara Malaysia (BNM).
Manulife has announced the launch of Manulife Future Shield, a groundbreaking health protection plan designed to provide lifelong security and financial support for individuals while ensuring a legacy for their families.
New business premiums in the life and general insurance industry recorded double-digit growth in the first half of 2024, exceeding MYR20bn ($4.7bn), said Bank Negara Malaysia (BNM) governor Mr Abdul Rasheed Ghaffour.
Syarikat Takaful Malaysia Keluarga, the country's first Islamic insurer, reported that its net profit for the first half of the year (1HFY2024) grew by 5.3% to MYR195.40m ($45.1m) from MYR185.50m in the previous half-year period, as total takaful revenue climbed 23.4% to MYR1.69bn from MYR1.37bn.
The community programme, called "Hoops+Health", is inspiring engagement, activity and healthy living through basketball by improving community access to courts and education across six Asian markets.
Significant protection gaps still exist in Malaysia, particularly among the vulnerable segments of the population, and a multi-faceted approach is critical to narrow them, with the insurance sector taking on greater ownership, according to Mr Adnan Zaylani Mohamad Zahid, deputy governor of Bank Negara Malaysia (BNM).