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Zurich transfers general insurance biz
Published on: Wednesday, January 03, 2018

Kuala Lumpur: Zurich Insurance (M) Bhd (ZIMB) has transferred its general insurance business to a newly-incorporated entity, Zurich General Insurance (M) Bhd (ZGIMB), effective Jan 1, 2018.

In a statement Tuesday, it said the new entity would be led by its General Insurance former President, David Fike, serving as Chief Executive Officer (CEO), adding, the transfer covered employees, assets, liabilities, distributors and contracts under the general insurance business.

ZIMB also said that it had renamed itself as Zurich Life Insurance (M) Bhd (ZLIMB) to reflect the company's new structure and scope, with Philip Smith remaining as its CEO.

"There are no changes to the terms and conditions of the general policies previously issued by ZIMB. From Jan 1 onwards, all claims incurred from existing and new general insurance policies will be managed by ZGIMB," it added.

The company said both ZGIMB and ZLIMB would continue to operate through its combined network of branches across 40 locations nationwide. – Bernama

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