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How It Came To Be
Malaysian Reinsurance Berhad (Malaysian
Re) was incorporated on 27 August 2004 as a wholly-owned subsidiary
of MNRB
Holdings Berhad (MNRB). As part of the restructuring exercise
of the MNRB Group, the reinsurance business, the reinsurance
licence and reinsurance assets of MNRB were transferred
to Malaysian Re on 1 April 2005. As the National Reinsurer, Malaysian Re will continue to pursue the same primary objectives as that successfully achieved by MNRB for more than 30 years since its establishment on 30 December 1972, that is to reduce the outflow of reinsurance premiums overseas. Malaysian Re will also continue to enhance the competitiveness and efficiency of the local insurance companies in an increasingly globalised marketplace through its active involvement in leading and underwriting their reinsurance needs. The classes of business underwritten can broadly be categorised under Fire, Engineering, Motor, Marine, and Miscellaneous Accidents. Leveraging on the Company’s breadth and depth of experience and pertise, strong fundamentals and proven track record, Malaysian Re has grown in stature as an international player having established a strong market presence in Asia, the Middle East, Africa and China.
Mission
To be a Dynamic and Professional Reinsurer in pursuit of
excellence.
Business Objectives
- To diversify our existing business in
order to achieve a better portfolio mix and ensure sustainable
growth;
- To continuously explore innovative
ways of doing business by taking advantage of the latest
Information Technology;
- To increase local retention and reduce
outflow of reinsurance premium;
- To increase employment and training
opportunities in reinsurance, particularly for Bumiputera,
which are lacking in this sector of the industry; and
- To enhance the value of the Company
through the creation of favourable earnings prospects which
are sustainable in the long term.
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