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May 04, 2015 6:20 PM 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 2014.

AXA Affin General Insurance Berhad Key Developments

AXA Affin General Insurance Berhad Announces Unaudited Earnings Results for the Second Quarter and Half Year Ended June 30, 2014

AXA Affin General Insurance Berhad announced unaudited earnings results for the second quarter and half year ended June 30, 2014. For the quarter, the company reported a higher pre-tax profit of MYR 35 million compared to MYR 21.4 million for the preceding year's corresponding quarter. For the half year, the company reported pre-tax profit of MYR 49.7 million compared to MYR 23.9 million achieved in the previous year. The improved performance was mainly due to higher earned premium of MYR 87.6 million attributable to health and motor businesses as well as higher investment income of MYR 6.5 million for the period under review. These were partially offset by the increase in net claims, overhead expenses and net commission incurred of MYR 45.2 million, MYR 14.4 million and MYR 10.7 million respectively.

AXA Affin Mulls Acquisitions

AXA Affin General Insurance Berhad is seeking acquisition opportunities. Emmanuel Nivet, AXA Affin Chief Executive Officer, said that their business partners are the heart of their business and AXA Affin relies heavily on them in acquiring new business opportunities.

AXA Affin General Insurance Bhd Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

AXA Affin General Insurance Bhd reported unaudited earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported a higher PBT of MYR 21.4 million for the second quarter as compared to MYR 10.1 million in the previous year's corresponding quarter. For the six month period, the company recorded a lower PBT of MYR 23.9 million compared with MYR 74.6 million the previous year. This was largely due to a decrease in earned premium of MYR 26.4 million and an increase in net claims, overhead expenses and net commission incurred, amounting to MYR 11.9 million, MYR 8.6 million and MYR 3.7 million respectively. The one-off adjustment of MYR 52.3 million on the release of Unearned Premium Reserve (UPR) due to a change in the methodology of UPR computation contributed significantly to the earned premium and thus the results of AAGI for the previous year.

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