Pacific Prime completes Malaysia’s MIT Insurance Brokers acquisition

KUALA LUMPUR: Global insurance brokerage Pacific Prime has fully acquired MIT Insurance Brokers Sdn Bhd, Malaysia’s insurance brokerage firm specialising in risk management, insurance, and reinsurance.

“Malaysia is an exciting country for us to expand our operations. With the integration of MIT Insurance Brokers, we will bring together a team of established and experienced personnel to provide innovative and strategic solutions both within and outside of the region.

“This is of utmost importance in light of the numerous global regulatory and technological changes taking place,” said Pacific Prime Chief Executive Officer, Neil Raymond in a statement.

Meanwhile, MIT Insurance Brokers Director, Shahrizal Shahruddin said: “This acquisition happens at an opportune time for us to showcase what we are capable of together. MIT Insurance Brokers has been in the market for over 50 years, and I hope we carry on this momentum.”

With unwavering dedication to providing exceptional service, MIT has been at the forefront of Malaysian property and casualty, financial lines, and employee benefits solutions since 1973.

Pacific Prime’s merger with MIT Insurance Brokers heralds a new age of broker unity, where insurance is simplified, streamlined, and client-centric in the face of evolving challenges.

Among Pacific Prime’s 15 offices globally, MIT Insurance Brokers will operate as part of Pacific Prime Consultants Malaysia, a fully-licensed client service point that provides localised products as well as flexible benefits administration and servicing within the region.

In the coming weeks, it is anticipated that MIT’s staff will continue their journey onboard the Pacific Prime flagship with the shared goal of simplifying insurance.