INVESTORS TRUST ASSURANCE SPC EYES REGIONAL EXPANSION
Source: The Star, 11 October 2012
International insurance company Investors Trust Assurance SPC (ITA) has launched its operations in Malaysia under its plan to expand into the untapped South-East Asian market.
The company’s managing director Bob Pain said there was still a lot of room for growth in insurance in the South-East Asian market. He added that ITA would also look to expand in developing countries such as in southern Africa, the Middle East and Eastern Europe in the future.
ITA specialises in investment-linked insurance products and currently has about US$650 million (RM1.99 billion) in assets under management which is projected to expand to some US$715 million (RM2.19 billion) by year-end. Pain added that in three years time, ITA expected to up its assets under management to be circa US$950 million (RM2.90 billion).
ITA has operations in more than 30 countries, and aims to develop Malaysia as its regional hub. Currently an equal proportion of some 50,000 of ITA clients come from Latin America and Asia-Pacific.
USD1.00 = RM3.06