MCIS ZURICH IN­SUR­ANCE BER­HAD NOW KNOWN AS MCIS IN­SUR­ANCE BER­HAD

Insurance - - INDUSTRY UPDATES -

Source: MCIS In­sur­ance Ber­had Press Re­lease, 18 June 2014

Fol­low­ing the suc­cess­ful re­cent pur­chase by San­lam Emerg­ing Mar­kets Pro­pri­etary Lim­ited (SEM) of a 40% in­ter­est in MCIS Zurich In­sur­ance Ber­had, and the re­sul­tant exit of Zurich Asia Hold­ings Lim­ited (Zurich) as part of the broader trans­ac­tion, MCIS Zurich In­sur­ance Ber­had will, ef­fec­tive 17 June 2014 be known as MCIS In­sur­ance Ber­had (MCIS In­sur­ance). SEM, part of the San­lam Group which is a lead­ing Fi­nan­cial Ser­vices Group based in South Africa and with a pres­ence in 11 African coun­tries as well as In­dia, UK, USA, Aus­tralia and Malaysia, com­pleted the pur­chase of its 40% in­ter­est from Kop­erasi MCIS Ber­had (Kop­erasi MCIS) on 5 May this year. SEM will in­crease its in­ter­est to 51% through the manda­tory take-over of­fer to mi­nor­ity share­hold­ers (the Of­fer) that is cur­rently in progress, or through the pur­chase of fur­ther shares from Kop­erasi should the Of­fer not yield suf­fi­cient mi­nor­ity ac­cep­tances. MCIS In­sur­ance Ber­had, a mem­ber of the San­lam Group (for­merly known as MCIS Zurich In­sur­ance Ber­had) is a lead­ing in­surer ac­knowl­edged as an in­no­va­tive provider of ser­vices and so­lu­tions for our cus­tomers through a cul­ture of ex­cel­lence. MCIS In­sur­ance is reg­is­tered un­der the Fi­nan­cial Ser­vices Act 2013 and op­er­ates as a con­ven­tional in­surer mar­ket­ing in­sur­ance so­lu­tions tar­geted for Malaysians.

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