Zurich Malaysia converts its composite insurance business to two separate entities for Life Insurance and General Insurance
Kuala Lumpur, January 2, 2018
– General Insurance business transferred to a new entity, Zurich General Insurance Malaysia Berhad – Zurich Insurance Malaysia Berhad renamed to Zurich Life Insurance Malaysia Berhad
Zurich Insurance Malaysia Berhad (ZIMB) has transferred its general insurance business to a newly-incorporated entity – Zurich General Insurance Malaysia Berhad (ZGIMB), effective 1 January 2018.
The transfer covers employees, assets and liabilities, distributors and contracts under the general insurance business. David Fike, formerly President of General Insurance of ZIMB has been appointed the Chief Executive Officer (CEO) of ZGIMB.
There are no changes to the terms and conditions of the general insurance policies previously issued by ZIMB. From 1 January onwards, all claims incurred from existing and new general insurance policies will be managed by ZGIMB.
To reflect the new structure and scope of the company as well as to ensure clarity to its customers, ZIMB has been renamed to Zurich Life Insurance Malaysia Berhad (ZLIMB) with Philip Smith remaining as its CEO. There is no impact on benefits and provisions under existing ZIMB life insurance policies as a result of the name change.
Both ZGIMB and ZLIMB will continue to operate through its combined network of branches across 40 locations nationwide. Customers will continue to receive quality service from ZGIMB and its agents and brokers, as well as brokers and sales advisors from ZLIMB.
ZGIMB was incorporated in accordance with the requirements set out under the Financial Services Act 2013, whereby an insurance company holding composite licences shall not carry on both life insurance and general insurance businesses under one single entity.
For more information about ZGIMB and ZLIMB, customers may contact Zurich Call Centre at 1-300-888-622 or visit www.zurich.com.my.
Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich General Insurance Malaysia Berhad
Zurich General Insurance Malaysia Berhad (ZGIMB), as part of Zurich Insurance Group, is an established general insurer headquartered in Kuala Lumpur. ZGIMB caters to the protection needs of individuals and business owners through a wide range of general insurance solutions covering motor, travel, property, financial and personal lines, small to medium enterprises as well as large industrial risks. Together with its dedicated employees, agency force, distributors and partners, supported by more than 35 branches nationwide, ZGIMB is committed to help its customers understand and protect their valuable assets and businesses from risks. Additionally, shariah-compliant general takaful solutions are made available to customers through its sister company, Zurich General Takaful Malaysia Berhad. Further information about ZGIMB, visit www.zurich.com.my
Zurich Life Insurance Malaysia Berhad
Zurich Life Insurance Malaysia Berhad (ZLIMB), as part of Zurich Insurance Group, is an established life insurer headquartered in Kuala Lumpur. Through its diverse range of life insurance products, ZLIMB provides protection, medical and health, savings and investments solutions to address its customers’ financial security needs. Together with its dedicated employees, agency force, distributors and partners, supported by more than 25 branches nationwide, ZLIMB is committed to help its customers understand and protect themselves from risks. Additionally, shariah-compliant family takaful solutions are made available to customers through its sister company, Zurich Takaful Malaysia Berhad. Further information about ZLIMB, visit www.zurich.com.my