【LPI 8621 交流专区】伦平

pya_ch

最近很勤劳
说真的,我是很爱啦,
只是我们的缘分未到
巴菲特说保险业是回酬非常大的行业,
而且简单的需求,
一张纸,还有一个未来的承诺而已,
而我喜欢的原因还有一个,
就是潜能非常大

Mr.Business

LPI
(8621) 17:01:13
Last Done        11.600
Change        0.100
Day High        11.600
Day Low        11.500
Best Buy        11.500
Best Sell        11.600
Volume(Lot)        322

LPI的闭市价RM11.60, 上涨10cent，是好的开始，哈。

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。

原帖由 Mr.Business 于 16-10-2007 02:28 PM 发表
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。

请无花兄讲解讲解, 小弟我先讲讲我的看法。

LPI在新加坡的生意不是很好，我猜有两个可能性：

1. 新加坡的普险市场很成熟，竞争激烈，LPI只有一间branch，争取不到足够的客户和保费来承担风险，所以一旦事情发生， claim ratio就会超过100%。

2. LPI比较赚钱的普险种类是火险，大众银行在新加坡似乎没有业务，所以LPI没有现成的银行客户来售卖火险。LPI在新加坡所售卖的普险种类有车险，工业险， liability险，产品风险较高。

[ 本帖最后由 Mr.Business 于 18-10-2007 07:03 PM 编辑 ]

无花

我买LPI只有一个原因,就是股息高.
当初买大众也是一样,买了一张后吃到糖,就多买一些,一买就紧张了,才来研究大众的背景.

我对LPI研究不深,因为在标叔的光环下,大家都把目光放在大众,也因为如此,LPI 的文章和报导也比较少.我手头上也没LPI年报,没得翻.要等到明年收到年报后才翻翻.PDF就不能想翻就翻.

Mr.Business

那请问为何大众在斯里兰卡的生意多年来就不是很好？

Mr.Business

原帖由 vampire2000 于 12-10-2007 12:26 PM 发表
还有，标叔的年纪大了，接班人的能力如何？

关于标叔继承人的问题，Sin Chew于11/10/2007的一份报道中有提到：
。。。银行的家族色彩绝不浓厚，因为他鼓励四名子女自行创业，不希望银行变成家天下。他相信，只有这样，大众银行才能继续成长。对于自己，他相信"没有人是永恒不朽"的，银行由一班专业人士来管理，才能永垂不朽。。。

[ 本帖最后由 Mr.Business 于 19-10-2007 03:08 AM 编辑 ]

Mr.Business

以下是Cari网友在无花兄的"<大众银行> 《南洋商报-大马金融界翘楚-丹斯里郑鸿标 18/10/07》"的讨论 (好东西我一定也得收起来。。。)

原帖由 甜蜜蜜的大米 于 19-10-2007 09:14 PM 发表
关于继承人的问题, 很多人问了又问, 我看到也有点 "烦".
看来大家对"继承人"这三个字的认知有点误解.
从很多人对标叔继承人所保持的一般看法中, 也看到我们东方人和西方人对企业延续经营和继承人的概念并不太一样.
我想也许是华人普遍上有"子承父业" 的传统心理.
我觉得, 这种心理和观念是绝对应该去除的.
很庆幸的, 我从来没有听老板说过什么家族企业之类的话, 我进工到现在十一年了,他总是无时无刻都在强调专业团队管理的重要, 而从未见过他把什么姨妈姑姐亲朋戚友带进来公司的事情.
"继承人" 不一定非得是子女或亲人不可, 交给专业管理团队也是 "继承人"的一种.
要交给子女, 还得看那个所谓的子女是不是争气, 是不是有经验, 否则多几个好象 已故马婆控股雷贤雄的 "继承人"的那种水平,
做爸爸的双脚才一伸不久, 做儿子不到两下子就把他的身家败到完的那种水平的 "继承人",
难道你们做股东的又稀罕?

原帖由 无花 于 19-10-2007 09:57 PM 发表
还是很关心他手中那20几巴仙的股权会怎样处理.
不知道会平分给他的孩子,还是出售,或是捐做慈善.

邱德拔先生手中的英国标淮渣打银行股权,也是在新加坡政府的压力下卖给淡马锡的.我不希望标叔辛苦打拼出来的成绩将来败在那些马的手上.

你也不希望你现在所做的一切付之流水.

原帖由 甜蜜蜜的大米 于 20-10-2007 05:36 PM 发表
其实他对这个问题回答那么多次, 你们不要相信, 所以就算你们怎么以自己的主观意愿问 , 也是问不出一个答案来的.

世事难料.

以我的认知来说, 只要政坛的当权者没有来个出奇不意的拦截, 就算他百年归老, 以他的个性, 他是绝对不会让 "大众"这两个字消失的,如果我的推测没有错的话, 我个人觉得成立基金会托管的成份比较高 (基金会托管的话子女应该也可以受益,也许并不需要管事).而说因为去见上帝而卖掉股权的成分我觉得不大. 他并不是旨在钱, 他钱多得花不完, 而是 "大众" 等于他 , 他等于"大众",对这些钱多没地方好放的人来说, 人家老爷子在乎的是成就感, 不管是生前生后.

人终究会死的, 谁来管理其实并不是一个问题,  二老板就是一个现成的接班人, 只是没有亲戚关系而已.

唯一的一个问题是 : 大家应该很了解我们这个五时花六时变的 "好政府" 的做风吼 ? 谁说得准他们下一步棋走的是什么 ? 商场中人 , 也只不过是其中一粒棋子而已.

如果担心他会怎么安排, 不如担心一下我们的当权者怎么盘算更好吧.

原帖由 无花 于 20-10-2007 07:00 PM 发表
其实大家关心继承问题，我相信大家担心的更多是政府政策和巫统政策。

只要能防止这种政治力的介入，我相信大众下一代领导可以安然接班。

可是如果大众真的被那些猪头看上，就算什么基金都没用。邱德拔的渣打也是放在基金名下，还是被政府干掉。

说来说去，还是政府可恨，怪不得穷爸爸富爸爸的作者说政府也是我们的敌人！！

只希望标叔能有办法保住大众现有的文化，即按制度办事就好，如果这种制度可得以延续，他也可以安心退休安享晚年，然后驾鹤西游。

原帖由 Mr.Business 于 20-10-2007 10:13 PM 发表
HSBC是拥有权和管理权分开的，也就是管理层不是大股东，但也能把HSBC经营得很好。

[ 本帖最后由 Mr.Business 于 20-10-2007 10:23 PM 编辑 ]

Mr.Business

回教保險的消息。

最大回教債券發售國 馬回教金融表現出色

Updated : 19-10-2007
Media : 星洲日報

財政部副部長拿督阿旺阿迪說，在經營回教金融超過20年後，大馬已經取得出色的成就，並成為世界上第一大回教債券發售國。

他說，我國發出的回教債券在國際資本市場中佔了所有回教債券的三份之二。

阿旺阿迪今日（週五，19日）為回家金融大會主持開幕時說，政府已批准3家外資回教銀行在我國營業，而這些銀行的股權可以100%由外國人所擁有。

他也說，政府也發出4張新回教保險執照給國內外聯營公司，而外國人可擁有這些公司的49%股權，較以往的30%高。

“這麼做，是為了加速回教金融業的發展，而政府的目標，是把我國打造成回教金融中心。”

http://www.biznewsdb.com/chinese ... 15&file1=7&bulan=10

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Foreign players encouraged to form takaful tie-ups
By Chong Pooi Koon
October 20 2007

THE government may not issue anymore new takaful licences to foreign players in the near term, but will encourage them to form joint ventures with local institutions, a deputy minister said.

"I don't think so ...we are willing to give out takaful licences like what we did to full-fledged Islamic banks, but the takaful experience from outside Malaysia is very limited," Deputy Minister of Finance Datuk Dr Awang Adek told reporters yesterday.

He was earlier speaking at a conference on Islamic finance organised by the Inter Pacific Bar Association in Kuala Lumpur.

Malaysia has already approved three foreign Islamic banks to operate in the country and four new takaful licences were issued to consortiums and joint ventures between domestic and foreign financial institutions, he said.

Although the penetration rate of takaful, or Islamic insurance in Malaysia is still low, at around six per cent, the country now accounts for 90 per cent of the takaful business in the world, Awang Adek said.

He added that Malaysian banks and Islamic finance players are highly sought after globally to provide advisory services.

"For example, the former Soviet Union countries, ... some have approached us for investment and advice. That's the potential.

"There's a huge interest in Islamic finance from these countries," he said.
......

http://www.btimes.com.my/Current ... on/awa.xml/Article/

[ 本帖最后由 Mr.Business 于 20-10-2007 10:56 PM 编辑 ]

无花

最大是没用的,特别是在我国.上天对我们的恩赐可不少,最大的锡米生产国,最大的橡胶生产国,到最大棕油生产国.但是我们的猪头有好好的珍惜过吗? 现在搞到要做全世界最大的国旗,最大的Roti Canai有的没的.

回教金融产品很多都是我国开发的,其他国家根本还没什么鸟你.连科金都宣布要拿传统银行执照.由于很多回银产品是我国开发的,当然是目前全球最大的回银中心啦.只有马来西亚自己在搞这玩意.

Mr.Business

哈，说得很好。。。讲到回教保險，你知道LPI拿不到回教保險的执照吗？所以她暂时只好和现有的回教保險公司合作一些回教保險的产品。为何LPI会拿不到回教保險的执照呢？聪明的各位心里应该有答案。。。

Mr.Business

哦，我知道。。。不是说LPI负责派管理人员和提供训练的吗？应该LPI的员工压力会大些。

希望这新生意越做越大，大家开心！

Mr.Business

这样你不是有机会去Cambodia公干，也不错啊。

PS：放上一些Cambodia联营保险公司的新闻作为参考。

Mr.Business

LPI和大众在Cambodia联营开设保险公司的新闻。

Public Bank Goes Into General Insurance Business In Cambodia

Updated : 03-09-2007
Media : Bernama

KUALA LUMPUR, Sept 3 (Bernama) -- Public Bank Bhd group has set up a subsidiary in Cambodia, CampuBank Lonpac Insurance plc (CampuBank Lonpac), to undertake general insurance business.

In a filing with Bursa Malaysia here today, Public Bank said the 55-percent-owned subsidiary commenced operations in Phnom Penh, Cambodia on Aug 30 upon obtaining its insurance licence from Cambodia's Ministry of Economy and Finance.

The remaining 45 percent will be held by LPI Capital Bhd, it said.

Public Bank said CampuBank Lonpac would carry out general insurance business in Cambodia with the main insurance products to be offered included fire, motor, engineering, workmen's compensation and personal accident insurance.

The company said the insurance industry in Cambodia was currently at the infancy stage of development.

"With the strong growth of the Cambodian economy, there is potential for the development of the insurance industry in the country," it said.

http://www.biznewsdb.com/english/newspage/newspage1.asp?ID=7090370&file1=7&bulan=09&kw=lpi%20capital

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大眾銀行倫敦大平洋 柬聯手設保險公司

Updated : 03-09-2007
Media : 中國報

（吉隆坡3日訊）大眾銀行（PBBANK，1295，主板金融）與倫敦太平洋（LPI，8621，主板金融），今天同步向馬交所報備，已聯手在柬埔寨設立普險公司。

根據大眾銀行的報備文件，相關公司都已獲得我國國家銀行，以及柬國相關單位的核准，由三個股東聯手成立名為CampuBank LONPAC Insurance Plc（簡稱CampuBank Lonpac）的普險公司。

文件顯示，CampuBank Lonpac的三大股東分別為大馬大眾銀行（4%）、柬埔寨大眾銀行（51%）、以大馬倫敦太平洋（45%）。

其中大馬大眾銀行的持股量是28萬、投資額28萬美元（99萬8504令吉）。

柬埔寨大眾持股量為357萬、投資額為357萬美元（1273萬令吉）。

大馬倫敦太平洋則持股315萬、投資額為315萬美元（1123萬令吉）。

http://www.biznewsdb.com/chinese/newspage/newspage1.asp?ID=7090333&file1=7&bulan=09&kw=lpi

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大眾銀行進軍柬埔寨保險業

Updated : 04-09-2007
Media : 星洲日報

大眾銀行（PBBANK，1295）進軍柬埔寨保險業務，該公司與旗下子公司倫平資本（LPI，8621），獲大馬國家銀行和柬埔寨經濟和金融部批准，在柬埔寨成立和聯營一家普通保險公司。

兩家公司發表文告說，該聯營子公司為Campu Bank Lonpac保險有限公司，繳足資本為700萬美元（約2497萬令吉），將在金邊營業。

大眾銀行和倫平資本分別持有該聯營公司55%和45%股權。

兩家公司將以內部資金融資這項投資。

大眾銀行表示，柬埔寨的保險業處於萌芽階段，具有強大的成長潛能，大眾銀行目前通過柬埔寨大眾銀行已經在住宅和非住宅貨款業務佔有一席之地，設立保險公司能使用該銀行分行進一步涉足普險業務。

http://www.biznewsdb.com/chinese/newspage/newspage1.asp?ID=709047&file1=7&bulan=09&kw=lpi

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Public Bank enters Cambodian insurance industry

Updated : 04-09-2007
Media : The Edge
Story By : Ellina Badri Ellina Badri

KUALA LUMPUR: Public Bank Bhd (PBB) has entered the Cambodian general insurance business with the commencement of operations of a subsidiary, CampuBank Lonpac Insurance Plc, on August 30,2007.

In a statement to Bursa Malaysia yesterday, PBB said the group had invested RM13.5 million for a 55% stake in CampuBank Lonpac, which has a paid-up capital of RM24.5 million.

The remaining 45% is held by LPI Capital Bhd, which is listed on the Main Board of Bursa Malaysia. Its wholly-owned subsidiary, Lonpac Insurance Bhd (Lonpac), is one of the biggest general insurance companies with operations in Malaysia and Singapore.

CampuBank Lonpac Insurance will offer fire, motor, engineering, workmen&#161;&#166;s compensation, personal accident and miscellaneous accident insurance such as money insurance, fidelity guarantee and all risks insurance.

PBB said CampuBank Lonpac Insurance will be able to leverage on Cambodian Public Bank&#161;&#166;s (Campu Bank) branch network and tap into its customer base.

Lonpac will provide key management personnel to manage CampuBank Lonpac&#161;&#166;s operations and provide relevant training to local staff and agents.

&#161;§Campu Bank has a sizeable loan portfolio in the residential and non-residential property sector and is expanding into the financing of motor-vehicles and small- and medium-sized enterprises.

&#161;§Lonpac possesses experience in writing general insurance risks in Cambodia via inward re-insurance from an existing insurance company in the country, on risks referred by Campu Bank,&#161;¨ PBB said.

The Cambodian insurance industry is currently at the infancy stage of development.

PBB said with the strong growth of the country&#161;&#166;s economy, there was potential for the industry to develop further.

http://www.biznewsdb.com/english/newspage/newspage1.asp?ID=70904105&file1=7&bulan=09&kw=lpi%20capital

[ 本帖最后由 Mr.Business 于 21-10-2007 12:03 AM 编辑 ]

Mr.Business

LPI和大众在Cambodia联营开设保险公司的新闻。

Dato’ Adnan Haji Othman, Ambassador of Malaysia to the Kingdom of Cambodia last night attended the Official Launching of CampuBank Lonpac Insurance Plc and Presentation of Recognition Award to Tan Sri Dato' Sri Dr. Teh Hong Piow at the Intercontinental Hotel, Phnom Penh.

H.E. Keat Chhon, Senior Minister of Economy and Finance of Cambodia was given the honor to launch Cambodia Public Bank’s (CampuBank) new insurance subsidiary CampuBank Lonpac Insurance Plc.


H.E. Keat Chhon congratulating Tan Sri Dato’ Sri Dr. The Hong Piow after unveiling CampuBank Lonpac Insurance Plc Plaque

CampuBank Lonpac is a joint-venture of Campu Bank and Public Bank Malaysia with LPI Capital through its wholly-owned subsidiary Lonpac Insurance. The strategic partnership is poised to tap on the strength of Campu Bank's wide distribution network and Lonpac Insurance's expertise which spans 45 years. CampuBank Lonpac Insurance will offer a variety of General Insurance products to cater to the different needs of the community.

At the same function, H.E. Chea Chanto, Governor of National Bank of Cambodia presented Tan Sri Dato' Sri Dr. Teh Hong Piow a Recognition Award by the National Bank of Cambodia in appreciation of his excellent achievement and significant contribution to the banking industry in Cambodia for the past 15 years. Campu Bank started as a one branch bank 15 years ago and today has eight branches all over the country and also grown to be the second largest lender in Cambodia today. The Bank is also the first amongst the banks in Cambodia to offer car financing.


H.E. Chea Chanto congratulating Tan Sri Dato’ Sri Dr. Teh Hong Piow after presenting the Recognition Award

http://www.kln.gov.my/perwakilan/phnompenh/news/905

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柬埔寨大众银行伦平保险开张

据柬埔寨《星洲日报》9月26日报道，马来西亚大众银行集团主席丹斯里拿督斯里郑鸿标博士周二率领多名高层人员亲临柬埔寨，并于下午出席主持柬埔寨大众银行伦平保险公司（ CampuBank Lonpac Insurance PLC）的开幕仪式。

　　郑鸿标博士说，马来西亚大众银行作为柬埔寨大众银行的母公司，一直以来坚持不懈地成为发展柬埔寨金融和保险服务业的战略伙伴。他说：“ 这使我们有机会通过柬埔寨大众银行伦平保险公司，向柬埔寨人民提供一般性保险服务。”

　　在开幕仪式后，丹斯里拿督斯里郑鸿标也接见了大众银行的主要客户，陪同高层人员的包括联合董事主席丹斯里汤耀鸿、董事经理郑亚历、柬大众银行总监潘应堂等。

　　根据马来西亚伦平保险公司董事经理兼首席执行员池春晓先生指出，柬埔寨大众银行伦平保险公司经营的保险业务包括汽车保险、火险、工程保险、员工赔偿保险等等一般性保险业务，但是并不包括人寿保险业务。

　　池春晓在接受本报记者采访时透露：“目前公司认为在柬埔寨从事寿险业务的时机还不成熟。”

注册资本700万美元
柬大众银行及马来西亚伦平保险合资成立的柬埔寨大众银行伦平保险（CampuBank Lonpac Insurance PLC），注册及缴足资本为280亿柬埔寨瑞尔（约700万美元），由700万每股4千瑞尔（1美元面值）的股票组成。

　　数据显示，CampuBank Lonpac的三大股东分别为马来西亚大众银行（4％）、柬埔寨大众银行（51％）、以马来西亚伦敦太平洋保险（45％）。

　　其中马来西亚大众银行的持股量是28万股 、投资额28万美元，柬埔寨大众银行持股量为357万股、投资额为357万美元，马来西亚伦敦太平洋则持股315万、投资额为315万美元。

根据柬埔寨的普通保险与人寿保险条例规定，柬埔寨的保险公司都必须拥有至少3名股东。

　　柬埔寨大众银行是大众银行集团的子公司，该公司于1992年即开始在柬埔寨营业，目前是我国第二大银行，并在全国设有8间分行。

　　柬大众伦平将在柬埔寨进行普通保险业务，其服务产品包括火险、汽车保险、工程保险、员工赔偿保险、个人意外保险及综合意外保险。

　　来源：南博网

http://www.picc.com/picc/piccweb/picckg_v2.0/xwzx/yjzx/gjyjzx/gjyjzx_news/zl_news_0205.html

Mr.Business

不知道大米姐有看过136楼的那两则新闻，你需不需要翻译他们呢？

Mr.Business

几篇新闻。

。。。
吉隆坡城市证券保险业分析员卡玛鲁查曼在接受《经济周刊》访问时说，至于国内的普通保险业务，则出现僧多粥少的现象，反映市场过小。目前国内一年的普通保险，包括各式各样的普险如车险、火险与海事保险等的保费总额约６０亿零吉，但却须由３６家公司分享，等于每家公司可获约１亿７千万零吉的保费收入而已。在一些大规模的普险公司如天安保险市场的占了显著部份后，其他较小规的公司须尽力争取市场其他保费额以便生存。

他说，在这些普险中，汽车险的保费保留率最好，达９４％，而火险达７５％，差强人意。最差的是海事保险，保留率只有约５０％。这意味着，每年约有一半的海事保险的保费流出国外， 落入外国保险公司的手中。目前来说，这是无可避免的，因为我国只拥有一家再保险公司，即马国民再保险险公司（ＭＮＲＩ），该公司也未有能力全面吸收保费，因此还有数目庞大的保费流出国外。

他说，鉴于普险的市场情况，我国的保险公司确实需要进行一番巩固行动，通过并购计划而加强公司的实力，以收收更多保费。

卡玛鲁查曼说，其实国家银行的目标是要使我国的寿险与普险总目缩减至仅１０家。因此它在前两年即促请保险公司将最低资本额由５千万零吉提高至１亿零吉。

他认为，我国在２０１０年起将开放保险业，因此我们现在须要加速进行保险公司的并购行动，以便为开放作好准备。
。。。
载自南洋商报 /许继光  17-03-2002

http://www.mytrade.com.my/Malaysia/NEWS/Y2002/M03/News_200203010.htm

XXXXX

并购活动缓慢中进展 保险领域评级中和 2007/10/02 13:16:23
●南洋商报

（吉隆坡1日讯）大马保险业的并购活动虽然缓慢，但是还是有进展。因此，拉昔胡申研究机构还是维持保险领域“中和”的评级。

随着国行去年放宽并购条例，已成功为保险领域缔造几项并购活动。尽管大马保险领域的并购活动缓慢，但还是有微幅进展。

大马保险领域今年只有两项并购活动，即是大马安联（Allianz，1163，主板金融股）收购联昌保险公司（Commerce Assurance Bhd），以及亚洲Aviva收购联昌国际寿险和回教保险（Takaful）。

除此之外，市场上也有很多尚未达成协议的并购计划，如大马安联与伊达曼（Idaman，1112，主板金融股）洽谈收购大汉保险（Tahan Insurance），以及马联合保险控股（MAA，1198，主板金融股）计划脱售其子公司股权等。

但是证券行相信，大马保险领域的并购活动，将会加快脚步，尤其是风险资本（Risk based capital）架构即将在2009年开始推行。

在所有保险股项当中，证券行的首选是马国民再保险（MNRB，6459，主板金融股）。该证券行以马国民再保险拥有不俗的周息率和本益比，而维持其5.80令吉的合理价格，以及“超越大市”的评级。

http://www.nanyang.com/index.php?ch=7&pg=12&ac=775434

XXXXX

Monday October 22, 2007

Royal & Sun Alliance deemed a good fit for AXA
By DALJIT DHESI

Royal & Sun Alliance Insurance Malaysia may be the next company the AXA group is acquiring a stake in because it is perceived as a good fit by industry observers.

With the ongoing merger and acquisitions (M&As) taking place in the insurance industry, it may not come as a surprise if the second largest European insurer decides to proceed with its plans.

Observers said the move, would to a certain extent, depend on the outcome of the group's bid for the Malaysian Assurance Alliance Bhd (MAA Assurance).

Two years ago the group had received the green light from Bank Negara to commence negotiations for a stake in the British-based insurer (Royal & Sun Alliance Insurance) but due to some reasons it had decided to defer that.

They told StarBiznow that Boustead Holdings has increased its stake to 80% in Royal & Sun Alliance, there is rekindled interest for the AXA group togradually take a stake in the general insurer.      

Boustead recently increased its stake in Royal & Sun Alliance from 35% to 80%, with Felda Marketing Sdn Bhd owning the rest.

Boustead owns about 23.4% of Affin Holdings Bhd, which owns Affin Bank Bhd. It also has interests in AXA Affin General Insurance through Affin Holdings.

“Over the next three to five years, AXA'sacquisitions plans are in Asia and Malaysia is one of the key marketsfor the group to expand its operations. The main criteria for any ofthe group's acquisitions strategies is that the targeted company mustbe “well managed”.

“Royal & Sun Alliance is a well-run company andhave the same business culture as AXA and is a good fit for the group'sgeneral insurance. It also will help the group garner a larger marketshare in the general sector and enhance its distribution channels,'' asource added.

AXA's general insurance operations are mainly in motor, property,health and marine insurance businesses and if the acquisition of Royal & Sun Alliance materialised, it would add synergy to the group and fortify its general insurance operations in Malaysia, the source added.AXA is among the leading players in terms of profitability in the general insurance business in Malaysia.

AXA Asia Pacific Holdings Ltd regional chief executive (Life) Mark Pearson told a media briefing in Hong Kong recently that AXA was keen to make inroads into Asia as it had a low penetration level and a high savings rate.

Pearson had said that AXA-AFFIN Life Insurance Bhd would consider acquiring other insurance firms if its bid for MAA Assurance failed.  

AXA Asia Pacific Holdings Ltd together with AFFIN Holdings Bhd is oneof the four short listed potential partners that are vying for a stake in MAA Assurance. Apart from life insurance, AXA also wants to acquire a stake in MAA Assurance's general business.

http://biz.thestar.com.my/news/story.asp?file=/2007/10/22/business/19225580&sec=business

[ 本帖最后由 Mr.Business 于 22-10-2007 10:00 AM 编辑 ]

无花

standard poor 保持买入评级，目标价格上调到13.00（原本为12.00）

风险为
1.市道突然不好
2.投资回酬突減少
3.理赔增多

Mr.Business

其他保險公司的新闻。

22-10-2007: Manulife on track to hit S&P profit forecast
by Kevin Tan

KUALA LUMPUR: Manulife Insurance (Malaysia) Bhd is on track to achieve the net profit forecast of RM80.6 million by Standard & Poor’s Equity Research (S&P) as the company is expecting new business premium to grow by more than 30% this year, its chief executive officer Peter Robertson said.

He said the company’s new premium had already increased by 70% in the first half of the year ending Dec 31, 2007 due to improvement in the productivity of its agents, and the success of its bancassurance tie-up, especially with HSBC Bank Malaysia Bhd.

While other life insurers were competing for market share, Manulife Malaysia’s strategy was to have consistent organic growth with a focus on the bottom line rather than to win market share at the expense of profit, Robertson said.

“We want to grow like everyone else but how we want grow is probably different. We are looking for a professional sales force. I rather have 1,500 people who are selling 10 policies than 15,000 who are selling one policy a month,” he said.

Therefore, Manulife Malaysia is encouraging more of its part-time agents to turn full-time as a key effort to boost productivity.

Robertson said part-time life insurance agents were only able to sell to relatives and friends, and they lacked the credentials to get referrals.

By being a full-time agent, they could develop their professionalism and win the confidence of more people as they were considered “experts” in their field, he added.

Robertson also said that the number of life insurance agents in the market would eventually decline to “half or less” from the current 80,000 and the productive ones would be those staying in the industry.

Despite its parent company being the sixth largest insurance company by market capitalisation in the world, Manulife Malaysia is one of the smaller life insurers in the country. With a market share of about 2.3%, it is ranked 11th out of 16 life insurance companies.

On the mergers and acquisitions in the insurance industry, he said Manulife was a disciplined acquirer, and would carefully study the numbers before embarking on such deals.

Looking at what is happening now, he believed it was the seller that would be getting “a very good deal”.

Robertson said the management could introduce a loss leader to boost its market share, the company would not approve of such an approach as it would prefer to develop products that were profitable.

It currently has about 20 products, which are basically a variation of several similar products, Robertson said.

Manulife Malaysia would like to innovate more but the basic functions of insurance products were to provide policyholders with protection and savings, and these had not changed much for the last 200 years, he added.

Robertson however said it would want to adopt the risk-based capital (RBC) framework as soon as possible even though others viewed the RBC as a challenge.

He said the company was already required to send certain financial reports to its parent company, which would complement the new framework.

On whether the company would offer more dividend this year in view of better profits, Robertson said it generally pays out 40% to 50% of its profits although it has no official dividend policy.

http://www.theedgedaily.com/cms/ ... a-17ebe660-a887984a

[ 本帖最后由 Mr.Business 于 23-10-2007 09:01 AM 编辑 ]

secondbrother

普通保险（General Insurance) 有几样东东也必须看看的；

1.Claim Ratio

2.Reserve for Outstanding Claims including IBNR
最近看了天安保险的报告才知道保险公司可以 based on historical data 和 confident level 来决定 Reserve 的 ％。意思是说保险公司可以 under reserve 它的 outstanding claims，以天安保险为例，它的 reserve 只是 outstanding claims 的５０％！哈...也就是你可能会有５０％ 的 surprise。也就是说保险公司可以 under reserve 来＂美化＂公司的盈利。

根据 risk based capital framework 在２００９年开始，reserve for outstanding claims including IBNR 必须最少是 ７５％ of confident level。

几个网友的问题 － rating 是做什么用的？？保险公司为了减低风险，一般上都会再保（reinsure）它的风险。Rating 越好，它的再保费（reinsure premium）越低。还有就是如果保险公司要发债券 （Bond），rating 越好，须支付的利息也较低。

[ 本帖最后由 secondbrother 于 23-10-2007 02:16 PM 编辑 ]

Mr.Business

欢迎二哥来一起讨论，你的看法很有意思。

原帖由 secondbrother 于 23-10-2007 02:14 PM 发表
2.Reserve for Outstanding Claims including IBNR
最近看了天安保险的报告才知道保险公司可以 based on historical data 和 confident level 来决定 Reserve 的 ％。意思是说保险公司可以 under reserve 它的 outstanding claims，以天安保险为例，它的 reserve 只是 outstanding claims 的５０％！哈...也就是你可能会有５０％ 的 surprise。也就是说保险公司可以 under reserve 来＂美化＂公司的盈利。

根据 risk based capital framework 在２００９年开始，reserve for outstanding claims including IBNR 必须最少是 ７５％ of confident level。

那天安保险这两年不是要补助25％的reserve？Hmm。。。帐目应该不大好看了。有意思。。。

XXXXX

刚才看了The Edge的报道，可能有人会收购上市公司Advance Synergy Berhad (ASB)，因为对她手上的保险公司 (ACE Synergy Insurance)有兴趣 (ASB拥有Advance Synergy Capital的52.76％股份。Advance Synergy Capital拥有ACE Synergy Insurance Berhad的49％股份）。
最近保险业的M＆A真是消息不断。。。