Malaysian Re inks MoU with CPIC for well being and medical initiative

Malaysian Re has entered a memorandum of understanding (MoU) with China Pacific Property Insurance coverage Firm Restricted (CPIC) and Kunpeng Insurance coverage Dealer Firm Restricted, aimed on the growth of well being and medical insurance coverage merchandise in Malaysia, with a specific concentrate on Most cancers Precision Medication therapy.

The settlement was formalized at a signing ceremony held on April 14, 2024, through the Innovation Insurance coverage Product Launch Convention in Hainan, attended by Madam Xie Jing, vice governor of Hainan Province.

Representing Malaysian Re on the occasion have been Datuk Johar Che Mat, chairman, Ahmad Noor Azhari Abdul Manaf, president & CEO, and Mohammad Nizam Yahya, SVP & head of the Malaysian Re Retakaful division.

Malaysian Re famous that the collaboration is anticipated to result in the introduction of extra revolutionary merchandise, improved outcomes, and enhanced safety for the neighborhood.

In December, the agency additionally made headlines after it signed an MoU with the ASEAN Reinsurance Working Committee (ARWC) to assist the institution of the ASEAN Renewable Vitality Pool (AREP), conceptualized by the reinsurer and below the oversight of the ASEAN Insurance coverage Council (AIC).

“The inherent monetary threat related to these ventures will be probably overwhelming for one insurance coverage firm to handle successfully. Due to this fact, there’s a want for a bunch of firms to pool their sources and band collectively to kind an insurance coverage pool to underwrite the dangers related to these renewable vitality sources,” Manaf mentioned.

Malaysian Re, the most important nationwide reinsurer in Southeast Asia by belongings and gross premiums, handles all classes of basic reinsurance and basic and household retakaful companies by way of its Malaysian Reinsurance Retakaful Division.

As the highest reinsurer within the nation, Malaysian Re performs a essential function in offering monetary reduction following vital sudden occasions. Past its core enterprise actions, the MNRB Group, which incorporates Malaysian Re, has been actively concerned in varied initiatives geared toward fostering trade and neighborhood growth as a part of its dedication to financial, environmental, and social (EES) contributions.

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