【LPI 8621 交流专区】伦平

无花

在柬埔寨的Campubank LPI是大众占大股,是不是意味LPI和大众将来会合并????

未·央

保险业里，为何没有人看好4782太平金溢？
当年若是预保诚或大东方合作成功的话，今天恐怕是数一数二的保险公司了。
我乱猜，还有第三次的来临。

guomiao88

保险是个pooling of risk 的概念。把钱集中起来，在受保人发生困难时，提供赔偿。
保险公司就会请那些读精算的来，underwrite policy. 保险业基本上有两个特点，

在sale 方面，goodwill (客户的信赖，公司的稳定)就是要成为market leader的要点。可是在一些情况下，价钱灰成为首要考量。尤其是商业性质及短期保单。
在cost 方面，economic of scale 就非常重要了。当数量越多时，风险就更加能分散，掌握的现金就越多，就更能参与更加高回报的投资。

保险公司的underwriting skill 和 investing skill 都一样重要。
出色的underwriting skill 能做不赔钱的生意。（把部分的风险转移给reinsurance。。。）
出色的investing skill 让management 充分的运用手头上的现金，进行投资。
巴老的成功就与保险息息相关。
保险公司提供他最擅产的东西，那就是钱。在保险公司underwriting ratio 超过100%（loss）
investment income 就是让公司盈利的东西。


LPI 的underwriting surplus before management exp 和 investment income 大约在40++%左右。
也就是说
Eg 今年收了rm1,000,000 分出了 rm600,000, 还有 rm400,000 在口袋。
（嘿嘿。。。可算是可不用本钱的生意）
如果没有错的话，LPI 的investment return(investment income/total year end investment)大概是9-10%。（请求正）


当这两个都处理好后，就是看overhead 了。因为在保险业里，除了赔偿外最大的花费就是staff costs 和 IT development (提高efficiency).
嘿嘿。。读精算的薪水蛮高的吧。。。


总结：嘿嘿。。小弟一次打那么长（不大会汉语拼音）。希望不见外。
在保险业里，我选择了MNRB。再保险。跟LPI比起来。(因为太贵了，买不下手)

小散户

去新加坡买GREAT EASTERN 也不错..

无花

顺道一提,LPI也有再保险业务.

kok1984

Underwriting Margin
Operating Margin   
Net Claims Incurred

pya_ch，
小弟不大明白
可以跟我讲解一下吗

hello_hello92

小弟不大明白
可以跟我讲解一下吗为什么大众要投标general asia,大众可找LPI合并。

无花

可能是LPI没有寿险业务吧。

Mr.Business

那你可以讲讲为何你看好4782太平金溢？

Mr.Business

LPI好象没有打算卖人壽保險，例如她与Public Bank在Cambodia的保险公司也是没打算卖人壽保險。为何LPI不卖人壽保險呢？我想可能不是LPI的专长吧，而且竞争激烈 (要跟知名的Great Eastern, Prudential, ING竞争生意不容易)。

又，我在The Edge的报道看过，General Insurer要做的好，最重要是要有一个capitive market，例如LPI，她的capitive market就是Public Bank的客户群。LPI的revenue大约30％来自Public Bank，如果下次客户向Public Bank贷款买车就要向LPI买车險，向Public Bank贷款买屋子就要向LPI买屋險，那就好了。。。

Mr.Business

LPI的新闻。

Comment & Analysis
Wednesday October 10, 09:26 AM
Malaysia's LPI Capital remains 'buy' on Q3 net profit - OSK

KUALA LUMPUR (Thomson Financial) - OSK Investment Bank said Wednesday it is maintaining its 'buy' recommendation on Malaysia's LPI Capital Bhd with a target price of 12.30 ringgit per share after the insurance company announced a third quarter net profit of 21.52 million ringgit, up from 13.4 million a year earlier.
The company said Tuesday that sales for the quarter strengthened to 156 million ringgit from 126 million ringgit, while earnings per share stood at 15.63 sen against 9.71 sen previously.

For the nine months to September, net profit was 62.56 million ringgit on sales of 447 million ringgit.

OSK analyst Chan Ken Yew said LPI's quarterly net profit was 8.9 percent below his estimate, but because of the seasonal effect the second and third quarters are usually weaker for LPI.

He has forecast a full year net profit of 91.6 million ringgit.

'I believe LPI offers the greatest value and growth prospects among its peers, especially with its new venture into Cambodia,' Chan said.

In early September, LPI established a 45 percent-owned subsidiary in Cambodia called CampuBank Lonpac Insurance Plc.

Chan said it is too early to quantify the earnings potential of LPI's Cambodia business, but expects this overseas venture to outperform its existing Singaporean operation.

LPI's Singapore business is currently facing an intense competitive environment in a developed and mature market, but that will not impact its net profit, he said.

At 3.28 pm, LPI was steady at 11.50 ringgit.

(1 US dollar = 3.38 ringgit)

http://uk.biz.yahoo.com/10102007 ... net-profit-osk.html

无花

做杂险了也是有好处。你买了没有事就袋袋平安，寿险就不同，你一买了就有一天你一定会CLAIM 如要在你CLAIM以前不能用你的保费赚大钱到钱就大锅了

hello_hello92

merge 了。做什么都方便

Mr.Business

原帖由 小散户 于 11-10-2007 09:05 PM 发表
刚刚我问问朋友有关大马GENERAL INSURAN的时常..(他自己也是AGENT),他说.现在大马GENERAL INSURAN现在流行AHA,AIA

原来真的有AHA。。。

American Home Assurance Company (AHA) is a subsidiary of American International Group, Inc. AHA established a general insurance presence in Malaysia by setting up a branch operation. Today, AHA Malaysia has 13 branches nationwide, offering quality insurance protection plans to the Malaysian public.
                                                                  
AHA has participated actively in the development of the Malaysian economy and is a leading general insurer in terms of proactive marketing,specialized insurance products, innovative insurance solutions,capacity and responsive insurance claims services.

# Why choose AHA
AHA's ratings are among the highest of any insurance and financial services organization in the world.

AHA Malaysia has an extensive range of products and solutions to provide our customers with the necessary protection and financial security to best fit their needs, be it on self, family, work, business investments or future plans.

Mr.Business

原帖由 Mr.Business 于 11-10-2007 03:21 PM 发表
LPI一直是得到MARC的AA评价，可是最近LPI决定不再继续被MARC评价，我有点不明白个中原因，所以刚刚电邮讯问LPI的CEO (Tee Choon Yeow), 希望他能很快回复我。

我的电邮内容：
Hi Mr Tee,
My name is "Mr.Business". I am interested to invest in LPI. I got your email address in LPI 2006 annual report and would like to check with you about LPI.

I noticed that MARC has been rating Lonpac's insurance financial strength since 2002, and recently (September 2007) MARC has withdrawn the AA insurer financial strength rating assigned to Lonpac Insurance Bhd (“Lonpac”) with immediate effect following Lonpac’s decision not to continue with the rating. http://www.marc.com.my/ratBase/marc.pub.press.detail.php?aid=2527

May I know what is the purpose of this "insurer financial strength rating"? And why Lonpac decided not to continue with the rating?

Your reply will help a lot for us to more understand operation of LPI. Thank you.

我3:17pm电邮Mr Tee，Mr Tee于当晚9:35PM就回复我了，真有效率。
以下是他的回答。

"We have decided to discontinue with the rating by Marc as it could no longer serve our purpose. The rating is for our insureds to have the comfort that we are financially sound.  As we are dealing with a number of insureds who are big and some have international HQ, a rating by an international rating house is more appropriate.  For your information we have engaged A M Best, an internantional rating agency to repalce MARC.  They are in the process of finanlising the report."

PS: 至于A. M. Best的来历，各位可以参考wikipedia。
http://en.wikipedia.org/wiki/A.M._Best

[ 本帖最后由 Mr.Business 于 16-10-2007 09:15 AM 编辑 ]

Mr.Business

普险业者的新闻。

AIG aims for top spot in Taiwan market

October 16 2007
TAIPEI: American International Group, the world's top insurer, said yesterday it aimed to be among the top three players in Taiwan's general insurance market in 2012, nudging up from its No. 5 position.

"We see lots of growth potential in Taiwan. We will have more central distribution to our major conglomerates and customers," Rudi H. Spaan, chairman of AIG General Insurance, Taiwan, told reporters.

The ambitious goal comes as AIG General Insurance completed its merger with AIU Insurance Co's Taiwan branch early this month.

AIG currently has 6.5 per cent of the Taiwan general insurance market, lower than about 10 per cent in Hong Kong and 16 per cent in Singapore, he said, adding that AIG is the bigger player in Singapore and Hong Kong.

Meanwhile, Standard & Poor's Ratings Services said yesterday that it had affirmed its 'BBB+' insurer financial strength and counterparty credit ratings on Chung Kuo Insurance Co Ltd. The outlook is stable.

"The ratings continue to reflect Chung Kuo's strong capitalisation and good niche position in Taiwan's commercial insurance market," said Standard & Poor's credit analyst Connie Wong.

"These strengths are offset by the company's volatile underwriting performance, which is partly because of its exposure to commercial insurance."

Chung Kuo's status as a member of the financially stronger Mega Financial Holding Co Ltd group is a supportive factor as the holding company is likely to provide financial support if needed.

Chung Kuo is a strategically important member of the Mega FHC group. The insurer provides non-life insurance products to members of the group.

Chung Kuo has good niche positions in several commercial product lines. It is a domestic leader in the provision of marine hull, cargo, aviation, and engineering insurance.

Commercial insurance accounted for about 62 per cent of the insurer's premium income in 2006. Its overall market share in terms of direct premiums written was about 5.6 per cent in the first half of 2007.

Chung Kuo's underwriting performance has recently deteriorated. The insurer's combined ratio increased to 104.9 per cent in the first half of 2007, from 99.3 per cent in 2006, because of a major marine hull claim.

The deterioration indicates the need for close observation of the company's risk management discipline.

Historically, Chung Kuo's underwriting performance has been slightly weaker than most of its peers' because of its focus on commercial lines, which tend to exhibit greater volatility than personal lines, and exposure to consumer credit, which has performed poorly in recent years.

The company's combined ratio averaged about 100 per cent between the beginning of 2003 and the end of the first half of 2007.

The benefits of Chung Kuo's efforts to strengthen its underwriting controls and expand its personal lines are likely to take time to materialise, partly because of strong competition. - Reuters

http://www.btimes.com.my/Current ... te/tig.xml/Article/

[ 本帖最后由 Mr.Business 于 16-10-2007 10:44 AM 编辑 ]

Mr.Business

保险业者的新闻。

New products to lift Uni.Asia Life premiums
By Jeeva Arulampalam

October 16 2007
INSURER Uni.Asia Life Assurance Bhd expects to collect total premiums of RM350 million for its financial year ending March 31 2008, a rise of eight per cent from RM324 million a year ago, through new products and additional distribution channels.

While traditional policies contribute close to 60 per cent of new regular premiums, it is targeting to equal the ratio from both investment-linked and traditional policies for the current fiscal year.

In financial year 2007, Uni.Asia Life's total gross premiums including renewal year premiums grew 21 per cent from RM268 million in fiscal year 2006.

"This was mainly because we were able to switch our investment to bonds at the right time, allowing us to lock in high-yield bonds and boost investment income for fiscal year 2007. It was also on the back of a good equity market," Uni.Asia Life chief executive officer Ooi Say Teng told Business Times

Ooi said the company's regular premium business grew in the first half of 2007 at 302.9 per cent against the industry's 14.4 per cent.

In terms of market share, the company commands 3.55 per cent of total premiums for January to December 2006, while for January to June 2007 its share grew to 6.54 per cent of total new business premiums.

Ooi said the life fund's surplus arising from operations for fiscal year 2007 increased ninefold to RM45.7 million from RM4.9 million previously.

"The increase in surplus is from higher sales, especially for investment-linked products, better investment performance and improved underwriting surplus," he said.

Uni.Asia Life general manager of business operations and development, Amarudin Tajuldin, said it was aggressively looking to expand into the retirement market.

"We are also looking at health products for individuals planning their retirement," he said.

Ooi said that having alternative distribution channels would contribute to achieving the much-needed business objectives of a life insurer.

"The benefit would include convenience and easier access to our products, hence increasing the penetration rate of life insurance," he said.

Ooi added that the cost-effectiveness of alternative distribution channels will result in savings being transferred to the customers.

"This will enhance the volume and eventually increase our profit level. We have successfully created a relationship with four banks, namely UOB, EON, OCBC and Alliance," he said.

Ooi said that Uni.Asia Life's distributors, be it bancassurance, agency force or the alternative channel, have experienced more than 200 per cent growth in the past year.

Total assets under management currently stand at RM1.5 billion, from RM1.3 billion in fiscal year 2007.



http://www.btimes.com.my/Current ... niasia.xml/Article/

[ 本帖最后由 Mr.Business 于 16-10-2007 10:48 AM 编辑 ]

Mr.Business

有趣的保险产品。

Insuring against having to pay king's ransom
By Rupinder Singh

October 15 2007
IT'S three in the morning. You are awakened rudely by the shrill ringing of your phone. "Don't say anything. We have your husband. Do not contact the police; it will be bad for him. The ransom for his return is US$1 million (RM3.37 million). You have three days." And the call is cut off.

The spine-chilling call lasts 10 seconds, but for the next few minutes you lie numb and motionless with the receiver in your palm.

Gripped by panic and fear, it suddenly dawns on you that your loved one is in grave danger. Stunned and petrified, you have no inkling where and to whom to turn to.

This kind of scenario may sound far-fetched for some, but kidnap and ransom are real dangers faced by business firms and their employees operating overseas and locally.

The trouble is that many managements overlook the possibility of kidnap and ransom. The damage and toll it can inflict on a business can be very severe.

With nearly 10,000 kidnappings taking place globally every year and with the number of terrorist attacks on the rise, help may be at hand from little-known kidnap and ransom (K&R) insurance.

K&R insurance is designed to protect individuals and corporations operating in high-risk areas around the world.

It provides numerous benefits and services to clients and the insured through a combination of financial indemnification and expert crisis management.

It typically covers the perils of kidnap, extortion, hijack, litigation, political detention, legal expenses, accidental death or injury, and additional expenses.

According to the UK-based Special Contingency Risks Ltd (SCR), corporate executives and their families, including those in construction, energy, mining, financial institutions, utilities and telecommunications, are among those in need of this kind of coverage.

Others who should consider such insurance are non-governmental or humanitarian groups; high-profile personalities such as sports stars, artistes and their family members; and high net worth individuals.

SCR is the market leader in K&R risk management with 40 per cent global market share.

With experience dating back to 1976, SCR account executive in the corporate division, William Miller, said SCR is the natural choice for Malaysian companies looking to offset the dangers of exploring more risky territories in pursuit of competitive advantage.

"Not only are we able to provide a range of preventative training to corporate groups, educating staff in how to minimise the risk of a kidnap incident, we also can carry out on-site surveys of both offices and expatriate housing," Miller told Business Times via e-mail.

In the event the worst occurs, he said, SCR can offer financial protection, backed by international insurers working in the renowned Lloyd's Market, to minimise the impact of any kidnap on a company's bottom line.

"SCR is unique in the market in being able to provide both these services in-house, and it is for this reason that we are able to gain a more in-depth understanding of our clients' needs than our competitors," he said.

Not only does the insurance provide broad coverage against ransom and extortion demands, but also a range of extras, including legal liability costs, counselling for victims and salary for replacement staff.

"However, perhaps most importantly, SCR is able to provide access to the best Response Consultants in the world who will endeavour to respond to an incident anywhere in the world within 24 hours.

"They will ensure that the company receives the very best advice when negotiating the release of a victim, therefore maximising the chances of getting this person back safe and sound," Miller said.

http://www.btimes.com.my/Current ... idnap1.xml/Article/

[ 本帖最后由 Mr.Business 于 16-10-2007 10:50 AM 编辑 ]

Mr.Business

普险业的新闻。

风险资本额制度截止日逼近 普险公司合并求存 2007/10/15 17:42:40
●南洋商报

（吉隆坡15日迅）据知，大马至少10家从事普险的公司，因为保险业风险资本额制度（Risk-based capital）架构的截止期限迫在眉梢，而承受合并的压力。

市场人士指出，董事局已在公司的一般会议上讨论，大股东也施加压力，希望能在2009年之前实行保险业风险资本额制度。

在有关架构下，发行者需把风险资本额制度维持在规定的水平。

许多保险公司正在寻找能为公司增值的伙伴，并投入资金。这些公司正在力求生存，一名观察者也说，如没达到要求，或有失去保险执照的可能。

“欧洲及日本的外国保险业者，正顺着风险资本额制度之势，与本地的相关公司进行合并洽谈，在本地保险公司拥有股权的外国公司，则考虑增加持股权。”

“由于本地保险的渗透率低，因此拥有财势的欧洲及日本公司将进军大马，寻找在本区域拓展市场的机会。”

“欧洲的保险市场，目前已趋向饱和。”消息指出。

除了抵抗风险的资本不足，这些保险公司也缺乏企业监管活动、欠缺内部守则、无遵守条例、索赔储备不足、保护系统的效率也不佳。

殴日公司虎视眈眈

欧洲最大的保险公司——安联欧洲股份公司（Allianz SE）及法国安盛人寿（AXA），早已将业务触角延伸至大马的公司。若有并购机会，他们也对收购本地保险公司充满兴趣。

大马安联（Allianz，1163，主板金融股）目前正与伊达曼（Idaman，1112，主板金融股）洽商，以收购旗下子公司大汉保险（Tahan Insurance），预计整项计划能在今年杪完成。

此外，泛球保险（PanGlobal Insurance）也正在寻找适合的伙伴。

日本最大的保险公司——日本生命保险，也在收购马联合保险控股（MAA，1198，主板金融股）的入选名单内。

若日本生命保险竞标成功，他将是几个月内进军大马的第二家大型日本保险公司。

日动火灾海上保险公司(Nichido Fire & Marine)在今年早前，已购入亚洲通用（ASIA GENERAL HOLDING）的股权。

http://www.nanyang.com/index.php?ch=7&pg=12&ac=779054

Mr.Business

原帖由 无花 于 12-10-2007 12:22 PM 发表
标叔也有死穴的，大众在斯里兰卡，LPI在新加坡的生意多年来就不是很好，大家可以从这两个地方去研究一下大众、LPI的模式。

无花兄是大众银行的老板之一，对大众银行很有研究。
为何大众在斯里兰卡，LPI在新加坡的生意多年来就不是很好？ 请无花兄讲讲，以满足我(与其他网友)的好奇心，谢谢。