Source: The Star, 11 Oc­to­ber 2012

Insurance - - COMPANY CORNER -

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

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.