AIG Insurance Malaysia Corporate Profile. Corporate Information. Company strength. Latest update. Insurance Company Profile.
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AIG Malaysia Insurance Berhad Corporate Profile About AIG American International Group (AIG) is a leading international insurance organization serving more than 70 million consumer and commercial clients worldwide. Bring on tomorrow AIG operates in more than 130 countries through one of the most extensive global networks of any insurer. Chartis Malaysia Insurance Berhad is now AIG Malaysia Insurance Berhad. With over 60 years of experience in Malaysia, AIG continues to deliver its promise to support Malaysians every day in their time of need. Malaysia continues to play an important role for AIG and we are committed to growing our already strong presence across our various businesses. AIG is a proud sponsor of the New Zealand All Blacks Rugby Team. 2 AIG in Malaysia Our presence in Malaysia can be traced all the way back to 1953 in Kuala Lumpur. On June 1, 2008, we became a locally incorporated Malaysian insurance company. Today, AIG Malaysia has 14 offices nationwide, localizing its global capabilities and offering insurance services to businesses and individuals throughout a network of more than 3000 professional agents, brokers and staff. As a leading insurer in the nation, we strive to deliver on our promise in helping our clients recover from unforeseen circumstances. Our regulatory capital stands at RM310.8million with a position in excess of 3 times minimum Bank Negara requirements. Financial Highlights as at 31 December (‘000): 31st Dec 2013 31st Dec 2012 (Audited) (Audited) Gross premium written RM624.4m RM580.6m Net premium written RM499.2m RM389.8m Profit before tax RM100.3m RM52.6m 3 Committed to strengthening our 60 year legacy 4 Consumer Insurance The Consumer Division of AIG is a leader in insurance solutions for individuals and families. Product offerings from the AIG insurers included accident supplemental health insurance, specialty coverage for high net-worth individuals, as well as homeowners and auto coverage. Our wide ranging offerings and responsive, service-centric approach has made us the provider of choice for individuals, families, and other sponsoring organizations around the world. Every day, our local expertise and global reach prove pivotal for our customers, whether by helping a business traveler locate quality medical care far from home, servicing an extended warranty, or helping a family safely transport a rare collection coast to coast. 5 Commercial Insurance Every day, our people bring the highest degree of confidence to the plans and projects of our business clients around the globe. We provide commercial insurance solutions to the full spectrum of enterprises — from large, multinational and midsized companies to small businesses (SME), entrepreneurs and non-profit organizations. The product and service offerings from AIG insurers encompass both traditional product types such as general liability, property and financial lines, and highly specialized ones for political risk, network security, the aviation industry and crisis management. We offer a breadth of coverage custom-built by the industry’s best and brightest who are focused on particular market segments — from real estate and construction to public entities and healthcare. 6 Claims Cutting-edge knowledge, the sound judgment born of experience, and innovative technology make our professionals well prepared to resolve our customers’ claims... whether that is a prompt payment, skillful litigation defense, or effective mitigation of a loss. We hope our clients never have to experience an event that requires them to submit a claim, but if they do, our experienced and dedicated resources will ensure fast, fair and friendly claims handling. AIG insurers paid an average of USD123 million in claims worldwide every business day in 2011. AIG Malaysia recently received the “Most Efficient Insurer” award for own damage claims approval turnaround time for 2011, a new honor bestowed by Malaysia’s Motordata Research Consortium (MRC). 7 American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. Products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Not all products and services are available in every jurisdiction, and insurance coverage is governed by actual policy language. Certain products and services may be provided by independent third parties. Insurance products may be distributed through affiliated or unaffiliated entities. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.