Kuala Lumpur, 5 July 2018 – AIA Bhd. (AIA) has announced the establishment of a new subsidiary, AIA General Berhad, which aims to give their general insurance business a renewed strategic focus. The general business arm provides motor, personal accident and commercial insurance which will be distributed through AIA’s network of Life Planners, bank partners, telesales representatives, branches located nationwide and in the near future, directly online.
AIA General Berhad will be led by its new Chief Executive Officer, Eric Chang who will guide the company and leverage on the collective expertise and capabilities of AIA Bhd.’s existing distribution, technology and operations. “This is an exciting new chapter for us and I am excited to lead a dynamic team and drive AIA General Berhad’s business forward. We are committed to providing our customers with new and innovative solutions that will continually meet their constantly evolving needs and we look forward to expanding our reach particularly through e-commerce,” shared Chang at the recent signing ceremony in AIA Bhd. headquarters.
Anusha Thavarajah, Chief Executive Officer of AIA Bhd. who was also present said: “We see plenty of potential in the general insurance market and are excited about embracing new ways of reaching out to our customers. We also want to ensure that we continue to provide a comprehensive suite of products and services that meet their needs. We are midway through our 70th anniversary in Malaysia and it gives us great pleasure to recognise another milestone as we continue on our journey of growth and success in this country.”
Starting from 1 July 2018, AIA General Berhad begins operations as a new entity within AIA group of companies in Malaysia with a focus on offering general insurance products. This is in line with the Financial Services Act 2013 that requires insurers like AIA which hold the composite license (for life and general insurance) to separate the two. AIA Bhd. has successfully completed the exercise to separate the license.
– END –