MCIS ZURICH INSURANCE BERHAD NOW KNOWN AS MCIS INSURANCE BERHAD
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.