In The News

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

KUALA LUMPUR, 9 June 2015 – Liberty General 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 General Insurance Berhad. Also present were Luciano Suzuki, Chief Operating Officer for Asia Pacific Region at Liberty International, David Tan, Chief Executive Officer of Liberty General 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 General Insurance Berhad will incorporate our local experience and Liberty’s global expertise to further enhance these relationships,” Tan said.

Tan added that Liberty General 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 General Insurance Berhad, we look forward to our continued success in Southeast Asia’s second largest insurance market,” said Suzuki.

Remarking on Liberty General 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 General 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 General 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 General Insurance Berhad

Liberty General 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 General 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 General 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

 

In the News

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

 

Insurance solutions provider awarded Claims Initiative of the Year Award following implementation of pioneering virtual appraisal tool.

Liberty Insurance has once again lived up to its reputation of placing customer experience at the centre of its priorities. The company has been awarded the Claims Initiative of the Year Award at the recent Insurance Asia Awards 2021.

Having served Malaysia for over four decades, Liberty truly proved itself worthy of the award when it introduced the first fully integrated virtual appraisal tool to its customers.

Watch the video, and read the press links below.

Read more about Liberty Insurance's Claims Initiative of the Year Award in these publications:

• Insurance Asia - Get to know the winners of the 6th Insurance Asia Awards
• Insurance Asia - Liberty Insurance wows at Insurance Asia Awards 2021
• Business Today - Liberty’s Integrated Virtual Appraisal Tool A Winner 
• Rama Rama - Liberty Insurance Wows at Insurance Asia Awards 2021 
• The Malaysia News - Liberty's Integrated Virtual Appraisal Tool a Winner 
• Malaysian Business Online - Liberty Insurance Wows at Insurance Asia Awards 2021
   

Originally Published on Carsick.my. Read the full article here.

 

Being in a traffic accident is a very headache situation to be in. According to the Department of Statistic, Malaysia is one of the top 3 country that has the highest fatality rates in Asia, while the road accidents is the 4th most common cause of death in Malaysia.

Most of the accidents that happened on Malaysian roads are usually freak accidents, which is hard for any motorist to avoid. However, car owners can always opt to take preventive steps, on top of being more cautious on the road and getting a good insurance plan that has a hassle-free claims process.

Let’s take a look at a few common causes of road accidents:

1. Speed Kills

Speeding is one of the most common causes of road accidents. The higher the speed and thrill, the more severe the accident is going to be. There is no telling if the road will be wet up ahead, if there are potholes, or other pedestrians and motorists. This is made worse when rear passengers are not properly buckled in.

2. Gadgets Away

Using a mobile phone when driving is as bad as driving under the influence of drugs or alcohol. Looking down at your mobile phone will distract a driver for an average of 4 seconds. This amount of time is sufficient to cause an unwanted accident. It is more important to get to the destination safely and on time than checking a message or social media.

3. Red Means Stop

We see these almost every day, especially among motorcyclist. Drivers and motorist needs to keep in mind that when When the light turns amber, it means slow down, but a majority of drivers accelerate instead. This is highly dangerous because there may be blind spots for vehicles coming from the other direction or worse, motorcyclists beating the red light from another corner.

4. Signalling Saves Lives

All type of vehicles are fitted with functioning indicator, it is to inform other road users about the direction of the driver is heading. It is the most basic and yet crucial form of communication on the road between motorists. Switching lanes or making a sharp turn without signalling first will result in accidents.

5. Poorly Maintained Car

Maintaining your car is part of your ownership experience, and it must not be skipped. If a car is not properly maintain, it may cause accidents during emergency situation. For example, balding tyres, broken turn signals, low brake fluid and exhausted brake pads could put you and everyone around you in danger. Driving blindly without thinking of timely maintenance is hazardous.

However sometimes, no matter how careful one is, accidents may still happen. Hence, an insurance plan with an excellent claims process is crucial because what policy holders ultimately want is speedy and hassle-free cash settlement within 24 hours. With Liberty Insurance’s Private Car EZY Plus Comprehensive policy, owners need worry no more as it not only provides a holistic coverage, but offers an efficient claims process too with its Liberty Own Damage (OD) Express Claim. This claim allows the insured to make claims via any smart phone without having to visit the branch and no submission of physical documents are required.

Having served Malaysians with its trustworthy brand and insurance coverage for 44 years, Liberty Insurance provides insurance solutions from all-inclusive personal accident and motor policies to legal and business policies that covers legal consultancy services and safeguard financial investments.

To find out more about Liberty Insurance’s Private Car EZY Plus Comprehensive, visit  https://www.libertyinsurance.com.my/motor-insurance/private-car/ezy-plus.

Read more

• Auto News Asia - Making Your Insurance Claim Free Of Hassle With Liberty Insurance
• Auto International - Making Your Insurance Claim Free Of Hassle With Liberty Insurance
• Driving Motion - Making Your Insurance Claim Free Of Hassle With Liberty Insurance
• Rama Rama - Making Your Insurance Claim Free Of Hassle With Liberty Insurance