Business

Zurich sets RM570 million general insurance target - Bernama

July 30, 2013
Latest Update: July 30, 2013 01:00 pm

Zurich Insurance Malaysia Bhd has targeted its general insurance portfolio to grow to RM570 million this year as compared to RM480 million recorded last year, its CEO Trevor Bull said in Kuala Lumpur today.

As for its life insurance business, the company is targeting an annual premium equivalent to RM150 million.

Bull said Zurich will work to deliver innovative insurance products tailored to the local market and venture into new areas of business, broadening its product offerings and exploring alternative distribution channels to support its growth plans.

"Our life insurance business will be focusing on offering more investment-linked protection products as they provide the flexibility to meet the needs of a broad range of customer segments, including Malaysia's Gen X and Y population,” he said at a media briefing.

"We also plan to expand our general insurance portfolio, growing its proposition for segments such as marine cargo and property. We will increase our focus on servicing small-to-medium enterprises, as well as middle and large corporate customers.”

Next year, he said, Zurich will be focusing on opportunities for growth in certain segments in Malaysia as well as delivering its promise of “guidance” and “surety” while enhancing the overall customer experience.

"The well regulated insurance industry and stable economic environment in Malaysia offers significant opportunities to grow. Our successful nationwide branding campaign which started last year has allowed us to establish our brand here.” - Bernama, July 30, 2013.

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