In The News | Liberty insurance

Liberty Insurance Berhad officially launched

Latest News 09 June 2015

Former Uni.Asia General Insurance rebranded following sales of majority share to Liberty Mutual Group.

KUALA LUMPUR, 9 June 2015 – Liberty Insurance Berhad, formerly Uni.Asia General Insurance Berhad (UAG) was officially launched today. This follows the acquisition of a majority stake in the company by Liberty Seguros, a subsidiary of the Liberty Mutual Group, which was completed in July 2014. The US-based Liberty Mutual Group (the Group) founded in 1912, is a global insurer listed on the Fortune 100. In 2014, the group recorded US$39.6b in revenue and US$124.3b in assets.

The launch was officiated by Dato’ Haji Kamil Khalid Ariff, Chairman of Liberty Insurance Berhad. Also present were Luciano Suzuki, Chief Operating Officer for Asia Pacific Region at Liberty International, David Tan, Chief Executive Officer of Liberty Insurance Berhad, and the company’s senior management team, personnel and business partners.

“UAG has a strong and proud history in Malaysia stretching back 38 years. Our success has been built upon our relationships with our clients as well as with other stakeholders. Moving forward, Liberty Insurance Berhad will incorporate our local experience and Liberty’s global expertise to further enhance these relationships,” Tan said.

Tan added that Liberty Insurance Berhad’s passion for making insurance readily available to all consumers contributes to the objective of ensuring greater insurance coverage for the population of Malaysia. “We believe that being insured is important for enhancing the population’s financial security and social safety net and we want to play an integral role in helping people in Malaysia live safer, more secure lives,” he said.

Meanwhile, Suzuki said the Liberty Mutual Group continues to embrace the local expertise of their operations while uniting everyone behind the strong values that give the Group its unique qualities. “Malaysia has a vibrant and developing insurance industry, and we are extremely excited to establish a footprint in this fast growing and profitable market. Together with Liberty Insurance Berhad, we look forward to our continued success in Southeast Asia’s second largest insurance market,” said Suzuki.

Remarking on Liberty Insurance Berhad’s financial performance, Tan said he looks forward to continuing the company’s recent business momentum, taking its new name and new family to greater heights. “Liberty Insurance Berhad recently finalised our nine-month financial period ended December 2014, and I’m pleased to announce that for this period, the company achieved a gross written premium of RM420 million and a pre-tax profit of RM57 million,” Tan said.

With the rebranding, Liberty Insurance Berhad’s 638 personnel add to Liberty Mutual Group’s more than 50,000 personnel in more than 900 offices worldwide. The Malaysian entity is the 30th country in the Group’s current diversified global presence, which is spread across Asia, the Americas and Europe through the Group’s international and global specialty strategic business units.

About Liberty Insurance Berhad

Liberty Insurance Berhad, formerly known as Uni.Asia General Insurance Berhad, is a majority-owned subsidiary of the Liberty Mutual Group. The company’s insurance products and services range covers personal & commercial automobile, homeowners, accident & health, general liability, property, surety, workers compensation, personal, travel and specialty lines.

With 5 regional offices and 25 branches in Malaysia and 638 personnel, Liberty Insurance Berhad comprises part of the Group’s 50,000 personnel in more than 900 offices worldwide. The Malaysian entity numbers among Liberty Mutual Group’s current diversified global presence in 30 countries, spread across Asia, the Americas and Europe through the company's international and global specialty strategic business units.

Liberty Insurance Berhad’s distribution network also includes 10 mini branches at Puspakom, POS Malaysia’s approximately 700 outlets, 4 franchise holders, 119 dealers, and a 1,800 strong agency force. The company is a MYEG Insurance Partner and a bancassurance partner of UOB Bank and Bank Simpanan Nasional.

For more information, please log on to www.libertyinsurance.com.my

About Liberty Mutual Insurance

Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.

In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. The company is the third largest property and casualty insurer in the U.S. based on 2013 direct premium written as reported by the National Association of Insurance Commissioners. Liberty Mutual is ranked 78th on the Fortune 100 list of largest corporations in the U.S. based on 2014 revenue. As of December 31, 2014, the company had $124.3 billion in consolidated assets, $104.0 billion in consolidated liabilities, and $39.6 billion in annual consolidated revenue.

Liberty employs more than 50,000 people in approximately 900 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.

You can learn more by visiting www.libertymutualinsurance.com

Released by Rantau PR on behalf of Liberty Insurance Berhad.

For media enquiries, please contact:

Daisy Sidhu
Account Director
Rantau PR
0122338953
This email address is being protected from spambots. You need JavaScript enabled to view it.

Alicia Pinto
Senior Consultant
Rantau PR
0126661532
This email address is being protected from spambots. You need JavaScript enabled to view it.

Haliza Hisham
Corporate Communications Manager
Liberty Insurance Berhad
0123404915
This email address is being protected from spambots. You need JavaScript enabled to view it.

Print

Focus Malaysia, 13 June

The Star, 10 June

Harian Metro, 10 June

Kosmo!, 10 June

Oriental Daily News, 10 June

Online

Dealstreetasia, 12 June

Harian Metro, 10 June

Carstation, 10 June

AMI, 10 June

Arena Kereta, 10 June

Borneo Post, 10 June

Motorme.my, 9 June

The Star Online, 9 June

DSF.my, 9 June

AutoFreaks.net, 9 June

KiniBiz, 9 June

Insurance gets an upgrade in Malaysia with Liberty's world-class services

Latest News 01 February 2016

This article appeared in the South China Morning Post print edition as: Local insurance gets an upgrade with Liberty's world-class services.

david_tan_ceo

As regional economic integration becomes an imminent reality through the creation of the Asean Economic Community (AEC) this year, opportunities abound for businesses looking to expand their global operations and forge cross-cultural partnerships across the Asia-Pacific's growing markets. Liberty Insurance in Malaysia combines the high-calibre global expertise of multinational insurer Liberty Mutual Insurance Group and the 38-year tenure of Uni.Asia General Insurance serving Malaysia's local retail and auto industries. With economic prosperity fuelling the urbanisation and increasing affluence of Malaysia's growing population, the rebranded insurance company is in a strategic position to extend its portfolio as one of the leading providers of premier insurance services across the nation. "We pride ourselves on being a one-stop shop for Malaysia's auto insurance needs," says CEO David Tan. "Our creed is to help people live safer and more secure lives by making auto insurance easily accessible to every man on the street through our well-entrenched, diversified and strategic distribution network." Liberty Insurance offers a variety of comprehensive risk protection services ranging from medical health insurance and personal accident plans to business protection packages covering extensive risks such as fire, burglary, plate-glass breakage and employer liability. Most significantly, the company specialises in complete motor insurance plans for motorcycles, large commercial vehicles and private cars - a segment through which it derives 80 per cent of its business. Through its strategic local distribution network comprising five regional offices, 25 branches, 123 franchise holders and franchise dealers, and more than 1,800 agents, the company's widespread presence ensures easy insurance accessibility. Clients can rely on the high emphasis that Liberty Insurance puts on good customer service and stakeholder relationships. As an example of its expansive reach, Liberty Insurance encompasses a partnership with approximately 700 Malaysian post offices - ensuring that even Malaysians in rural towns can have direct access to insurance services. "Helping people protect themselves and their possessions and being able to offer insurance at a fair price to the masses - I think that's a lot to be proud of," Tan says. "We are a business and thus want to reward shareholders with a good bottom line. But as a socially responsible company, we also want our business strategy to contribute something back to every person on the streets, and we do this by making our insurance plans as readily available as possible." Liberty Insurance also maintains mutually beneficial relationships with business partners such as DRB-HICOM, owner of carmaker Proton in Malaysia; and United Overseas Bank. The company is also an insurance partner of Malaysian electronic government services provider MyEG Services and a bancassurance partner of Bank Simpanan Nasional. In anticipation of the AEC, Liberty Insurance Malaysia has the advantage of adapting the best practices of other Liberty operations in Asia such as Thailand, Hong Kong, Singapore, Vietnam and China. As part of the Liberty Mutual Group - a diversified insurer headquartered in Boston with operations in 30 countries around the world - the company is prepared to abide by the AEC's catchphrase of "thinking globally, prospering regionally". "We see ourselves as a leading Malaysian auto insurance company," Tan says. "We are now part of a global brand, and with a name like Liberty on our side, that glass ceiling as a local entity has been shattered. We see positive growth within the AEC such as synergies and cross-referrals of businesses, and welcome future opportunities." Read the original article here

Taking on the larger players in the industry

Liberty Insurance targets to be in top 10 list

2018 Service Tax FAQ

Latest News 13 December 2017

When does the Company begin to collect 6% Service Tax?
The Company will begin to collect 6% Service Tax with effect from 1 September 2018 in accordance to the Service Tax Act 2018.

Issue date before 1 September 2018

Policy / Cover Note Effective Date	Service Tax Treatment
Before 1 September 2018 (*)	Service Tax prorate from 1 September 2018 until the expiry date to be recovered /collected
After 1 September 2018	Full Service Tax to be recovered/collected

 (*) The Service Tax Act 2018 does not require Service Tax to be recovered / collected on taxable services where 6% goods and services tax under the Goods and Services Tax 2014 has been paid on the services to the extent covered by the invoice.

My general insurance policy covers period from 1 August 2018 and expire on 31 July 2019. I have fully paid my policy premium and received my policy on 1 August 2018 without service tax.

Why does the Company require me to pay the outstanding 6% Service Tax on my general insurance premium?
As your policy is effective from 1 August 2018, you need to pay 6% Service Tax on the general insurance premium for the period from 1 September 2018, being the effective date of Service Tax, until the expiry of your policy of 31 July 2019 in accordance to the Service Tax Act 2018.

If my general insurance premium is RM1,200 per annum. How much Service Tax do I have to pay?
The 6% Service Tax is applicable to the period from 1 September 2018 to 31 July 2019 which covers 11 months. The service tax outstanding from your policy is calculated at RM1,200 premium per annum x no. of days/365 x 6% Service Tax. Therefore the amount of Service Tax payable is RM66.

I would like to refer to the FAQ from Royal Malaysian Customs Department (RMCD). Where can I find the FAQ?
Please refer to Q34 from the RMCD’s website

What are the modes of payment available to me?
You may pay via Jompay, Internet banking, credit card, cash and cheque.

I would like to pay via Jompay. What are the steps required?

Please logon to online banking service of your bank.
Please choose Jompay to proceed payment from your Saving, Current or Credit Card account.
You will be required to enter the following payment detail:
- Amount : Enter the Service Tax amount. You may refer from your letter
- Biller Code: Please key in 5959
- Ref 1 : Please key in your Jompay Ref -1 Number available on your letter i.e. SKLMB8000XXX1
- Ref 2 : Please key in your contact no / email address in order for us to contact you.

I would like to pay via internet banking. What are the steps required?

Please logon to online banking service of your bank.
Please select IBG / fund transfer to proceed payment.
Please key in our MBB account number which is available on your letter.
Please enter the service tax amount. You may refer the amount from your letter.
In reference field, please key in policy number i.e. KLMB800012X if you have one policy. If you have multiple policy, please key in reference number of the letter i.e. LIB/18/ST/HQ201812XXXXXX.

I would like to pay via cash, cheque or credit card. What are the steps required?
Please visit our nearest branch office. You may refer to the list of our branch offices in our corporate website (under “LOCATE”).

 Kindly take note that the information provided in this FAQ aims to provide better understanding of Service Tax treatment and is not intended to address all possible Service Tax matters. The Management has the right to amend or withdraw this FAQ accordingly.

Liberty Insurance Berhad officially launched

About Liberty Insurance Berhad

About Liberty Mutual Insurance

Print

Online

Insurance gets an upgrade in Malaysia with Liberty's world-class services

Taking on the larger players in the industry

Liberty Insurance targets to be in top 10 list

2018 Service Tax FAQ

Locate

Customer Service

Assistance

Claims

Terms Of Use