March 25, 2017 2:42 AM ET

Insurance

Company Overview of AXA Affin General Insurance Berhad

Company Overview

AXA Affin General Insurance Berhad provides protection solutions to individuals and businesses worldwide. It offers services ranging from financial protection to wealth management to property and liability protection aspects. The company provides car/motor, health, personal, business, home/household, commercial, accidental and travel, life, safety, savings, medical and retirement, and general insurance products, as well as marine and trade credit insurance, and claim options. It serves customers through a network of agents. The company was incorporated in 1975 and is based in Kuala Lumpur, Malaysia with additional offices in Malaysia.

Ground Floor

Wisma Boustead

71 Jalan Raja Chulan

Kuala Lumpur,  50200

Malaysia

Founded in 1975

Phone:

60 3 2170 8282

Fax:

60 3 2031 7282

Key Executives for AXA Affin General Insurance Berhad

Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Executive Officer of Axa Asia
Chief Executive Officer of AXA AFFIN Life Insurance Berhad
Compensation as of Fiscal Year 2016.

AXA Affin General Insurance Berhad Key Developments

AXA Affin General Insurance Berhad Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2016

AXA Affin General Insurance Berhad announced unaudited earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, PBT was MYR 181.2 million against MYR 114.8 million a year ago. This was mainly as a result of higher earned premiums from the health and motor businesses as well as growth in investment income and increased gains on disposal of investment securities despite higher net claims and net commissions incurred during the financial year. For the full year, PBT was MYR 181.2 million against MYR 114.8 million a year ago. The improvement was mainly due to higher premium income.

AXA Affin General Insurance Berhad Reports Earnings Results for the Nine Months Ended of September 30, 2016

AXA Affin General Insurance Berhad reported earnings results for the nine months ended of September 30, 2016. The company saw a PBT increase of 50.4% from MYR 81.7 million to MYR 122.9 million year-on-year. AAGI's positive results were mainly due to growth in the health and motor businesses which resulted in higher earned premium and improvement in investment income.

Felda Seeks Divestment Of Non-Core Businesses

Felda Global Ventures Holdings Berhad (KLSE:FGV) is seeking to divest non-core businesses. Datuk Zakaria Arshad, Chief Executive Officer of Felda, said that the company is finalising the divestment of several non-core businesses, one of the subsidiaries was AXA Affin General Insurance Berhad, in which the company held a 20% stake. Further Zakaria said, "There are a few other companies which we plan to reduce or divest our stakes completely. We are looking at a minimum of 10% in return on investment from the divestment plan."

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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