Malaysia’s RHB says talks on selling its insurance arm have made “meaningful progress”, but the parties still need to finalise the transaction terms and documents.
As industry bodies warn that surging motor insurance fraud could result in higher premiums, consumer advocates are demanding stronger scrutiny of claims data.
Under the proposed rules, insurers and takaful operators would have to check customer understanding before underwriting and stop sales that cannot meet a customer's needs.
The leadership change follows Markel's broader Asia-Pacific expansion strategy, including ambitions to nearly double its regional business over the next five years.
