Topik: Bank Negara Malaysia, Takaful am, The Star on Apr 21st, 2010 Comments Off
Source: The Star, 21st April 2010
The Government and insurance industry players will jointly set up a new company (newco) to solely undertake the proposed third-party bodily injury and death insurance scheme (TPBID).
Bank Negara financial sector development department director Abdul Rasheed Ghafur said the Finance Ministry would hold a majority stake in the newco and it would be mandatory for motor players to participate in its operations.
There are currently some 30-plus insurers, including takaful players, offering motor insurance in the country.
Teruskan Membaca
Topik: Bank Negara Malaysia, The Edge Daily on May 25th, 2009 Comments Off
Source: The Edge Daily, 25th May 2009
Bank Negara Malaysia (BNM) expects Malaysian insurance and takaful sector to be affected by potential lower demand for protection and related products in a highly competitive industry.
The expected decline in vehicle sales would impact the motor insurance and takaful business which accounted for 45% of gross insurance premiums last year, it said in its Financial Stability and Payment Systems Report 2008.
“Premiums are also likely to be affected to an increase in surrender rates and lower sums insured,” it said, adding policyholders would want to reduce costs.
It cautioned claims were expected to intensify due to higher incidences of theft and fraud and less regular maintenance.
Teruskan Membaca