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

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

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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

Liberty Insurance Berhad officially launched

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
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Alicia Pinto
Senior Consultant
Rantau PR
0126661532
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Haliza Hisham
Corporate Communications Manager
Liberty Insurance Berhad
0123404915
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Focus Malaysia, 13 June

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The Star, 10 June

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Harian Metro, 10 June

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Kosmo!, 10 June

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Oriental Daily News, 10 June

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Online

Dealstreetasia, 12 June

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Harian Metro, 10 June

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Carstation, 10 June

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AMI, 10 June

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Arena Kereta, 10 June

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Borneo Post, 10 June

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Motorme.my, 9 June

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The Star Online, 9 June

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DSF.my, 9 June

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AutoFreaks.net, 9 June

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KiniBiz, 9 June

 

 

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