FM GLOBAL TO OPEN SINGAPORE LOSS PREVENTION CENTRE
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