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FM GLOBAL TO OPEN SIN­GA­PORE LOSS PRE­VEN­TION CEN­TRE

Source: in­sur­ance­news.com.au,

29 Au­gust 2016

In­ter­na­tional in­surer FM Global has be­gun work on an SGD80 mil­lion (AUD77.63 mil­lion) loss pre­ven­tion train­ing and op­er­a­tions cen­tre in Sin­ga­pore.

A ground­break­ing cer­e­mony marked the start of con­struc­tion on the six­s­torey, 11,610-square-me­tre fa­cil­ity that will house the FM Global Asia SimZone.

The com­pany says the cen­tre will be the first of its kind on the con­ti­nent.

“Over the course of FM Global’s 35 years of op­er­at­ing in Asia, we have seen that com­pa­nies in the re­gion are very in­ter­ested in in­creas­ing their re­silience to risk,” Pres­i­dent and CEO Thomas Law­son said.

“The new cen­tre will house an ar­ray of one-of-a-kind learn­ing fa­cil­i­ties to pro­vide ex­pe­ri­en­tial loss pre­ven­tion ed­u­ca­tion, at no cost, to our pol­i­cy­hold­ers, as well as to build­ing de­sign­ers, con­trac­tors, stu­dents, ed­u­ca­tional in­sti­tutes, in­sur­ance bro­kers and govern­ment of­fi­cials.

“The fa­cil­ity will lever­age our nearly two cen­turies of loss pre­ven­tion en­gi­neer­ing and client ex­pe­ri­ence and ex­pand our in­sur­ance and en­gi­neer­ing op­er­a­tions in Sin­ga­pore into fullfledged ed­u­ca­tion.”

In­ter­ac­tive lab­o­ra­to­ries and learn­ing ar­eas at the cen­tre will al­low safe sim­u­la­tion of prop­erty risks such as nat­u­ral haz­ards, fire, ig­nitable liq­uid, con­struc­tion, elec­tri­cal haz­ards and in­dus­trial equip­ment mal­func­tion.

MAA TAKAFUL BERHAD HAS BEEN RE­NAMED TO ZURICH TAKAFUL MALAYSIA BERHAD

Source: Zurich In­sur­ance Malaysia Berhad,

2 Au­gust 2016

Zurich In­sur­ance Group (Zurich) to­day an­nounced that fol­low­ing its ac­qui­si­tion of MAA Takaful Berhad (MAAT), one of Malaysia’s lead­ing Takaful providers, on 30 June 2016, MAAT has now been re­named to Zurich Takaful Malaysia Berhad (ZTMB) ef­fec­tive to­day.

Salim Ma­jid Zain, Chief Ex­ec­u­tive Of­fi­cer of ZTMB, ex­plained that the in­te­gra­tion of ZTMB into the Zurich process com­menced on 1 July 2016, as soon as MAAT of­fi­cially be­came part of the Group. "We are ex­tremely ex­cited to be part of the Zurich fam­ily, a group that op­er­ates on a truly global ba­sis. Our next step is to com­bine ZTMB’s strong rep­u­ta­tion, lo­cal mar­ket knowl­edge and ca­pa­bil­ity with Zurich’s in­ter­na­tional brand to­gether with its re­sources as well as ex­per­tise. The full tran­si­tion to the Zurich brand will be im­ple­mented over the com­ing months and com­pleted in 2017."

Zurich is uniquely po­si­tioned within

Malaysia as it now of­fers a full range of In­sur­ance and Takaful so­lu­tions cov­er­ing both con­ven­tional prod­ucts of Life and Gen­eral In­sur­ance as well as Fam­ily Takaful and Gen­eral Takaful; all un­der a sin­gle brand.

ZTMB pro­vides Zurich with ap­pro­pri­ate li­censes, prod­ucts and in­fra­struc­ture to en­ter the Takaful mar­ket. It en­ables Zurich to ac­cess new cus­tomer seg­ments with a dif­fer­ent range of prod­uct suite, in re­sponse to the grow­ing de­mands of this seg­ment and the great growth po­ten­tial which the lo­cal Takaful mar­ket has to of­fer.

"For Zurich to fully re­alise its po­ten­tial in Malaysia and achieve the mar­ket share that it as­pires to, we must be able to pro­vide at­trac­tive so­lu­tions to cus­tomer needs right across the coun­try; par­tic­u­larly in pro­vid­ing them with the nec­es­sary prod­ucts to pro­tect them­selves and their as­sets. Through ZTMB and its sis­ter com­pany, Zurich In­sur­ance Malaysia Berhad (ZIMB), we are con­fi­dent that we are able to pro­vide our cus­tomers with a wide range of In­sur­ance and Takaful so­lu­tions across mul­ti­ple cus­tomer seg­ments. The two com­pa­nies will

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