英语论文网

ium) is based on the concept of tabarru’ (Osman, 2003). Tabarru’ is derived from the Arabic noun that means donation, gift and contribution (Mohd, 1999). Takaful and general insurance have similar characteristics, for instance, in terms of the nature of their businesses, products and services offered. The only dissimilarity is that takaful is based on the Shariah law, while general insurance is not.

 

Life insurance means a policy by which payment of policy moneys is insured on death or survival, including extensions of cover for personal accident, disease or sickness and includes an annuity but does not include a personal accident policy. (Insurance Act 1996)

 

According to the Bank Negara Malaysia Insurance Key Indicator 2011, there are 22 licensed general insurance companies, 9 licensed life insurance companies, 6 licensed life and general insurance companies as at year 2011. Besides, there are 11 licensed takaful insurance companies as reported by Bank Negara Malaysia Takaful Key Indicator 2011.

 

1.1.1         Background of Study on the Sample Data

 

Allianz Malaysia Berhad

 

In 2001, Allianz officially started in Malaysia when it was the controlling shareholder of Allianz General Insurance Malaysia Berhad (“AGIM”). The general insurance business of AGIM transferred to its wholly-owned subsidiary, AGIC in 2007. AGIM modified its name to AMB and turned into an investment holding company, with a general insurance (AGIC) and life insurance (ALIM) subsidiary followed by the completion of the transfer of general insurance business. AGIC is one the foremost general insurer in Malaysia and has a wide range of services in individual lines; small to medium enterprise dealing and large industrial risks. Besides, in order to reach out to the bank's over-a-million-customer base, AGIC leverages on the bancassurance agreement with CIMB Bank. The gross written premium for general insurance business for financial year 2011 recorded a mark of RM 1.46 billion. ALIM provides a wide-ranging of life insurance and investment-linked products. For the financial year 2011, ALIM marked a gross written premium of RM 1.14 billion and is one of the rapid growing life insurers in Malaysia. (Allianze, 2012)

 

KSK Group Berhad

 

KSK Group Berhad is an investment holding company, formerly known as Kurnia Asia Berhad, was incorporated on 16 February 2001. KSK Group’s vision is to be a leading financial services and investment conglomerate in the region. The Group’s present core business is general insurance and it was also the former holder that has built Kurnia Insurans (Malaysia) Berhad (“KIMB”) into Malaysia’s biggest domestic general insurance business with gross premium greater than RM1 billion.

<本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。