丈夫中風失語‧黃彩萍再苦也要撐下去

星洲日報／大都會‧2010.06.03

 

陳寶強（左）倒下了，但是還有妻子黃彩萍（右）和兩名兒子在身邊照顧他，陪他度過這段中風的日子。（圖：星洲日報）

 

陳寶強（左）是於今年2月中風。這是先前他和妻子黃彩萍（右2）及兩名兒子開心出外遊玩的照片。（圖：星洲日報）

 

（吉隆坡）當支撐一家經濟來源的枕邊人突然中風倒下，身為兩個孩子的媽、為人妻的她被逼撐起一頭家，雖然苦，雖然痛，但她依然沒有放棄，咬緊牙關走下去。

身為女人，她盡了妻子最大的責任，身為人母她給孩子最大的依靠。

 

患高血壓堅持不吃藥

47歲的丈夫陳寶強在今年2月突然中風，44歲的黃彩萍的人生起了劇變，本來只要在家中照料丈夫孩子的她，開始學習種種有關中風的知識，悉心照料無法開口說話，不能自理的丈夫。她還要照顧兩名分別15歲和10歲的兒子。

在中風前，以種菜為生的陳寶強，在中風前就患有高血壓，但是仍對自己的健康不以為意，還堅持不吃藥，最後，終於出事了。

黃彩萍說，出事的那一天，丈夫和朋友在一起，他是突然昏迷倒地，沒有中風知識的友人，就把丈夫獨自安置在一間房間里。

結果，當她找到丈夫時他已經昏迷了16個小時，最後還在加護病房內躺了9天、在醫院住了逾一個月才從鬼門關裡走出來。

中風以後的丈夫，不能開口說話，肌肉無法動彈，最初只能靠插管從液體食物中攝取營養。

進行物理治療及針灸

在這段期間，靠著毅力與家人的支持，黃彩萍才有力量慢慢的協助丈夫，陪著丈夫一天一點的好起來。

目前，她定期帶丈夫進行物理治療及針灸，丈夫也已經逐漸恢復說話的能力，可以坐在輪椅上，吃固體食物，身體也越來越健壯。

猜不透丈夫所想最辛苦

丈夫中風對黃彩萍的最大考驗，是猜不透他所表達的意思，幾乎全家發癲。

對黃彩萍而言，最辛苦的不是拮据的生活、不是填不飽的肚子、不是奔波的勞累，而是聽不懂丈夫所要表達的意思。

所以她說：家裡一個人中風，所有人發瘋。

她說，丈夫剛中風的初期，脾氣非常暴躁，因為他失去與人溝通的能力，很難開口說話，所要表達的無人懂。通過手勢比手畫腳，也很難才猜透他心裡所想。

"那時候，他辛苦，我和孩子更辛苦，大家都失去耐心。"

曾有自殺念頭被兒子阻止

身為女人，她也有脆弱的時候，有一次駕著車帶兒子和丈夫去針灸的時候，快要支撐不住的她，甚至閃過帶著丈夫和兩個兒子一同自殺的念頭。

"我哭著對孩子說，不如我們一家撞車死了算，死了就不用再受煎熬。"

慶幸，大兒子陳賈融勸住了她，阻止媽媽做傻事。

 

只要丈夫願吃東西"我就有勇氣撐下去"

"雖然艱苦，但是卻不能放棄，因為我要他看著兩個孩子長大。"

採訪黃彩萍的那一天，她剛剛賣了嫁妝──兩個金手鐲。

因為沒有買保險，丈夫出事以後，她靠著家人的援助及過去的積蓄過生活，替丈夫治療，但始終長貧難顧。

變賣嫁妝省吃儉用

她把丈夫的車子變賣，掙得2萬餘令吉，最後還要變賣嫁妝省吃儉用，挨到了今天。

現在她每個月的開銷加上丈夫的醫療費約3000餘令吉。慶幸房貸買了保險，可暫時不用供半年。但接下來是坐食山空，令她陷入無助的深淵中。

問她，這麼辛苦還能下去嗎？她眼神中透露著堅毅的光芒說，"只要他和我配合，接受治療，願意吃東西，就是我最大的支持力量。"

所以無論多苦，只要看到丈夫願意一口一口的吃東西，配合醫生的指示，她就有勇氣撐下去。

她哀哀的說："畢竟中風也不是他想的。"

如今丈夫已經一點點的好起來，她說，只要丈夫恢復自理的能力，她就會出來工作，賺錢養家，畢竟不能長期靠別人的資助過日子。

感激家人朋友支持

不幸中看到溫情，黃彩萍感激家人與朋友的支持。

訪問結束前，她不忘懇求記者給她一點點版位，感激所有對她有恩的人。

除了弟弟為她提供一個女傭之外，其3名姐姐也為她雪中送炭。

"還有我大兒子的老師，每天給我兒子3令吉吃東西，小兒子的老師更是替我照顧孩子，還有我丈夫的醫生等等，好多的人我都要感謝。"

父親節心願："只要爸爸能站起來"

"我甚麼都不想要，只要爸爸能重新站起來。"

15歲的陳賈融有一雙比同齡孩子憂鬱但卻懂事的眼神，今年的父親節，他只有一個心願，就是希望爸爸能夠重新站起來。

"我不用他馬上好起來，只要他能站起來就好，其他的再一步步的慢慢來。"

 

 

中風者面對失語症 - 難正確表達想法

語言治療師茜茜麗亞指出，30%的中風痊癒者有溝通問題。在昏迷後甦醒的他們，都面對失語症（aphasia）。

她說，患者難以表達自己的想法與意願，他們難以唸出一些字、難以找出正確的詞匯、難以閱讀與書寫，中風者口中說出的話，和別人聽到的不一樣。

她指出，他們惱怒，生氣，不耐煩。因為他們無法傳達自己的意願，而照顧他們的家人，也因為無法猜透他們所要表達的而變得暴躁，失去耐心。

中風協會小檔案

名稱：馬來西亞中風協會（NASAM）

宗旨：專為中風幸存者提供康復服務，讓會員交換意見，獲取團隊支援及收集中風護理與預防中風資訊的場所。

服務：給以物理治療，職業與語言療程，也可參與各種休閑活動，如園藝、烹飪、製作手工藝品、音樂及韻律動作等。

聯絡：03-79564840。

中風跡象包括

• 視覺模糊
  
• 身體一邊感覺麻痺
  
• 口齒不清
  
• 心理困惑
  
• 失去感覺
  
• 協調能力
  
• 頭昏眼花
  
• 失去平衡
  
• 突然嚴重頭疼
  

造成中風的原因

高血壓，抽煙，缺少運動，壓力增加，疾肥，攝取過量的酒精，紅血球過高，遺傳。

太平金溢准與日東京海事洽售保險業

星洲日報／財經‧2010.06.10

（吉隆坡）太平金溢（PACMAS, 4782, 主板金融組）獲得國家銀行的批准，和日本最大保險集團－－亞洲東京海事（Tokio Marine Asia）展開初步洽談，以100%脫售旗下太平洋保險公司。

這間公司發表文告指出，根據1996年保險條例，雙方須取得財政部的批准，加上國行的推薦後才能邁入洽談階段。

目前太平金溢也正與大東方集團（Great Eastern）及加拿大亞洲楓信公司（Fairfax Asia）進行洽談，以脫售其保險業務。

避免保險索賠引爭議‧謹慎呈報死亡證書

光明日報· 2010.06.11

（霹靂．太平）太平消費人顧問杜青和提醒非自然逝世者的家屬，在申領死亡證書時，必須謹慎呈報。他也促請有關家屬摒棄過去的忌諱觀念，允許醫院解剖非自然逝世者的遺體檢驗。因為這對於死者生前投購的意外保險有著關鍵性的影響，也可省卻事後許多爭議和麻煩。

他形容，這類爭議已司空見慣。只要有關家屬理性處理，可減少問題發生。

杜青和今日（週五，6月11日）接到一起家屬向保險公司索領先人意外保險10萬令吉賠償金被拒的投訴時，通過媒體向消費人發出這項呼吁。

他指出，一名摩多技師曾金壽（47歲）的父親於2008年3月8日下午5時30分，在家中浴室失足跌倒傷及頭部，在送院後不治。

曾金壽的胞兄到警局呈報，值勤的警員在死亡證書上填寫死者的死因是高血壓。其胞兄不明就理，在複印該證書後向保險公司申領死者生前購買的意外保險。

死者家屬在同年6月接到保險公司的回覆，指死者因高血壓逝世，與意外險無關，因此拒絕作出賠償。

"曾金壽據情向各方面查詢，瞭解當中的問題後，立即向醫院獲取醫藥報告，以證明死者是因頭部撞傷而死亡。他們之後向警方申請修改死亡證書獲准後，再度呈向保險公司上訴索償，但至今仍音訊全無。"

杜青和接到投訴後搜集相關資料，替對方向金融仲裁庭提呈上訴，相信很快會有成果。

據瞭解，死者先前向另一家保險公司投購壽險附送的意外險，家屬已獲得賠償，即人壽保險獲6000令吉及附送意外險獲得1萬令吉賠償。

全民健保須從長計議

星洲日報／社論‧2010.06.15

衛生部擬在今年內推行"一個醫療計劃"，接著便是"全民健保計劃"上場；與此同時，僱員公積金局宣佈，當局將擴大醫藥照顧，36種嚴重疾病患者可申請繳付醫藥費，而這項措施是全民健保計劃的一部份。目前健保問題還存在許多爭議，政府應成立全民健保檢討小組，立即展開問題的檢討，改進技術面與行政面的問題。

全民健保牽涉層面既深且廣，如果處理不當，一項原被認為是造福大眾的德政，可能會演變成人人不滿的結果。政府在推動全民健保時，不應過於匆促與草率，其實衛生部須審慎處理，寧可推延實施時間而力求制度的完備，切勿匆促上路而造成無可彌補的後遺症。

在全球各國實施全民健保的國家中，鮮少有成功的先例。美國從克林頓總統開始就研擬全民健保方案，但始終仍無結論，主要就是有待克服的困難太多，朝野反對的聲浪太大，看來已經是胎死腹中了；等到奧巴馬上台，如果不是因他個人的高人氣，再配合多數跨黨派議員的支持，美國健保計劃也不可能通過。歐美國家大多數人之所以反對此制，乃是因為全民健保在先天上有若干無法解決的困局，強力推行不但會拖垮財政，而人民也未必能普霑其惠。這些許多國家無法克服的困難，正好都已一一出現在我國的健保制中，焉能不令人憂心忡忡？

其一是公平性。由於全民健保帶有強制性的社會福利色彩，不僅政府需負擔龐大的財政支出，僱主及收入較高的勞工也相對要增加極高的支出，這就是民怨的主要訴求。加上目前健保計劃表面上是僱員公積金、保險公司與政府僱主與僱員三方面承擔，但最後還是脫不開公辦公營，如不能做到便民則必招致民怨，也必然會使支出增加，不是國庫負擔加重，就是保費不斷提高。其結果不是拖垮財政，就是增加醫療成本，而兩者都是經濟發展的致命傷。

其二是醫療資源的浪費。目前公務員醫保的實施，醫療浪費早已是十手所指的弊端，全民健保則將變本加厲。一般人認為既已繳了保費，不看病豈非吃虧？這種心理一經形成，過去"吃公務員醫保"的陋習，必會進而成為"吃健保"的風氣。

其三是醫療品質的降低。須知醫生也是服務業的一環，他們也要追求利潤，這是人性之常。我們只要觀察目前政府醫院與私人醫院的服務品質的差異，就可立即體察這個行業也需要競爭才有進步。全民健保恰好就是遏阻競爭機制的殺手，當私人醫院失去特色而與政府醫院看齊時，健保的病人還能到哪裡去尋找高品質的服務？

其四是行政支出的浪費。僅僅是一人一卡，加上其他繁文縟節，試問需要多少行政人員去處理？如再加上醫藥費用的核對，醫院與健保單位的財務關係等，行政費用的支出將是極龐大的數字，而此項支出是羊毛出在羊身上，還不是全民在負擔？

因此，全民健保是最不合理而也是最易失敗的社會福利制度。以目前的"一個醫療計劃"而論，簡化手續，儘量使民勢將增加支出，最後必將採增加費率一途；如求減輕人民負擔，減收費率，則又將造成虧損，以致降低醫療品質，兩者都會招惹民怨。與其倉促推行全民健保，不如吸取他國的教訓，避免重蹈他國失敗的覆轍。

以今日資訊的發達，醫療保險大可走多元化方式，不必求其一致性。例如採每人每年一定自付額方式，就是可以考慮的一項制度。此制一方面可遏阻醫療資源的浪費，一方面也可使私人診所更有生存空間。以週二國民所得而言，除殘障、老人及低收入民眾應由政府全額補助外，一般人民一年1000令吉的自付額應不是有太大的負擔。

售股換股合併‧總值15.59億‧豐隆三井住友聯盟

星洲日報／財經‧2010.06.18

（吉隆坡）豐隆金融（HLFG, 1082, 主板金融組）通過旗下豐隆保險控股（HLAH），以9億4000萬令吉現金脫售豐隆保險（HLA）30%股權予三井住友海上火災保險株式會社（MSI），進而使後者進軍大馬壽險業市場。

豐隆普險與MSIG保險業合併

與此同時，豐隆金融也宣佈通過旗下的豐隆保險，以6億1900萬令吉將非壽險業務與三井住友旗下的MSIG保險（大馬）業務合併，合併公司將發售6億1900萬新股支付，豐隆金融因此取得合併的大馬新普險業務的30%股權。

這項總值15億5900萬令吉的策略聯盟，讓三井住友保險可以在大馬與競爭對手東京海事日動火災保險株式會社（TOKIO MARINE）一較高下。

三井住友在大馬並沒有壽險執照，而東京海事在大馬則持有壽險執照。

豐隆分拆普壽險業務

在豐隆方面，與三井住友結盟，公司的人壽保險和普險業務將分拆，但引進三井住友讓這間公司擁有強大的保險伙伴，輔助在普險和人壽保險的產業開發和行銷，加強在大馬保險市場的競爭能力。

雙方今日（週五，6月18日）簽署上述兩項普險與壽險的策略聯盟協議。

在上述股權轉移完成後，豐隆保險控股將直接持有MSIG大馬30%股權及70%豐隆保險股權。MSI則直接和間接持有MSIG大馬65%股權及直接持有豐隆保險30%股權。

躍升大馬第二大普險

這項策略聯盟，使兩者綜合的普險總保費在去年達11億2000萬令吉。以總保費計，擴大的MSIG大馬個體將成為大馬第二大普險公司，火險更居冠，海事貨物險也高居榜首。

而豐隆保險的壽險保費去年則超過10億令吉，過去3年的累積平均成長率為23.2%，壽險業平均水平為10.8%，這間公司預計今年仍然保持雙位數的保費成長。

豐隆金融集團總裁兼首席執行員鍾義豪週五在簽約儀式上透露，壽險的策略聯盟，讓豐隆保險更專注於開發壽險業務，善用三井住友在行銷分銷和產品創新的強勢，進而可以強化國內的壽險業。

三井住友：達雙贏

三井住友董事兼管理執行人員西方正明在會上指出，此項策略聯盟是雙贏的計劃，以讓此集團擴充亞洲的壽險業，而大馬是此集團的主要市場。

作為協議的一部份，MSIG大馬已與豐隆銀行（HLBANK, 5819, 主板金融組）達致新銀行保險協議，以在豐隆銀行於國內的185間分行銷售其險產品。同樣的，豐隆保險將與豐隆銀行達致修正銀行保險協議。

上述兩項交易在獲得有關當局的批准，預計在今年末季全面完成。

豐隆金融獲益13.77億

鍾義豪說，這項合夥關係，也是迎合國行開放國內保險業的努力。

豐隆金融在這項近16億令吉的交易中獲取13億7700萬令吉一次過收益，使每股盈利增加1令吉33仙。

豐隆金融獲取9億4000萬令吉的現金，其中9億1000萬令吉將在完成交易的12個月內進行投資，餘額作為營運資本。

豐隆金融21日復牌

這間公司股票週五停牌，將在下週一（6月21日）復牌。

三井住友保險是全球首屈一指的普險公司，有逾100年歷史，在42個國家（不包括日本）有業務，在日本，這間公司是最大普險公司，並積極進軍人壽和退休市場，也是全球首10大保險公司之一。

Pet insurance in Malaysia

Guang Ming Daily     2010-06-16 16:57     Translated by YOU HSUEH LIN

PENANG: Insurance polices nowadays do not cover only humans, cars and properties, but as well pets.

An insurance company is recently working together with a private company to offer an insurance coverage for pets.

A package offered by Evolutis Sdn Bhd includes a pet medical protection provided by Kurnia Insurance (M) Berhad.

Every pet owner who joins the Pet Nation Lifestyle & Wellness plan is eligible to apply for the pet insurance to insure their pets aged between four months and eight years old.

Although they thought that the plan might receive good responses when it was launched in November 2009, Hanson Lye, owner of Kuala Lumpur-based Evolutis Sdn Bhd, told Guang Ming Daily that not more than 30 pet owners have insured their pets.

He said that there are animal insurances in many Western countries. Asian countries such as Japan, Hong Kong, Taiwan, and Singapore also provide similar pet insurance plans. In Malaysia, two insurance companies tried to provide such coverage before but the plans ended up as a failure.

"Pets receive almost the same insurance benefits as humans in Hong Kong, showing how much the owners love their pets," he said.

Lye also said that most people would buy expensive pet food and let their pets to sleep in an air-conditioned room but they refused to insure their pets.

"Actually, I hope that medical services for pets will be improved after having the pet insurance," he said.

There are currently two types of premiums which cost RM248 and RM328 per annum respectively. They are also required to pay RM60 of member fees.

The insurance scheme covers veterinary fees for accident, illnesses, accidental death, kennel fees, cattery fees, burial, cremation and even third party liability.

Consciousness of protecting pets is low

Although pet insurance is common in other countries, it is still a new concept for Malaysians. Lye said that people thought that he was joking when he told them about the pet insurance.

He added that Malaysians should increase their consciousness of protecting pets.

When he collected the opinions from the Society for the Prevention of Cruelty to Animals and others non-government organizations, some people suggested that he should include dog castration into the plan, while some of them thought that the insurance amount was too low.

"I hope that after the pet insurance is introduced to the market, we can always improve our policies. Besides, there are still some related issues that require further studies," he said.

Hong Leong Financial Group & Mitsui Sumitomo Seal RM1.559 Bil Deal

KUALA LUMPUR, June 18 (Bernama) -- Hong Leong Financial Group (HLFG) and Mitsui Sumitomo Insurance Co. Ltd (MSI) have concluded a RM1.559 billion deal that involves two separate transactions of the general and life insurance business.

In the first, Hong Leong Assurance Bhd (HLA), a unit of HLFG will merge 100 per cent of its general insurance business with MSIG Insurance Malaysia, a unit of MSI for a 30 per cent stake in the new enlarged MSIG Malaysia entity.

The shares will be issued to HLA Holdings Sdn Bhd, the parent company of HLA, and the wholly-owned unit of HLFG, said HLFG's President and Chief Executive Officer, Raymond Choong at the signing ceremony on Friday.

The transaction is valued at RM619 million based on cash flow and profitability.

The enlarged entity will make MSIG Insurance Malaysia the second largest general insurance company in the country, by gross written premium, and place it in the top position for fire insurance and marine cargo insurance.

The second part of the transaction involves HLA Holdings Bhd, which will divest a 30 per cent stake in HLA's life insurance business to MSIG Insurance Malaysia's parent company, MSI for RM940 million.

The completion of the transfer will result in HLA Holdings owning a 30 per cent stake in MSIG Insurance Malaysia and 70 per cent of HLA.

Mitsui Sumitomo in turn, will directly and indirectly, own 65 per cent of MSIG Insurance Malaysia and have a direct 30 per cent equity in HLA.

Choong said the partnership will enable HLFG to focus on elevating its life business to the next level, amid the challenges facing it.

"We will benefit from the synergies of working with MSIG and in sharing expertise and innovations to enable us to keep pace with the ever changing needs of today's discerning customers," he added.

He also stated that the opportunity to cross sell, will further solidify the group's position and market place reach, adding, the group will continue to maintain its composite insurance company status.

"To be very successful, we need to go beyond being just a stand alone. The partnership will enable us to grow a lot faster," Choong said.

Asked how MSI will finance the purchase of 30 per cent stake in HLA's Life insurance unit, its Director and Managing Executive Officer, Masaaki Nishikata said it will be via internally generated funds.

He also cited the RM940 million as a fair price for the stake based on the valuation done for the company.

According to Mishikata, for the general insurance, MSI is keen to share bancassurance best practices with Hong Leong Bank to deliver more comprehensive financial planning to customers.

Mortgage or loan term insurance

The Star Malaysia    Saturday June 12, 2010    By RAYMOND ROY TIRUCHELVAM

IN times of old, when we buy a property, it was meant for stay, as the term owner-occupied. Slowly, this was extended, when people bought properties for investment purposes. Realising this venture as a business, financial institutions, which usually finance these investments, started assessing the risks associated with it. Hence the birth of the loan or mortgage related insurance coverage.

Today, in Malaysian there are two main types of housing loan related insurance coverage, called MRTA (mortgage reducing term assurance) and MLTA (mortgage level term assurance). The former was the first to be offered, but both protect the loan borrower against death or total permanent disability (TPD). Basically, in the event of loss of life or TPD (or in some instances also covering critical illness, depending on the terms) the policy will cover the remaining payment obligation due under the housing loan to the bank.

 

The main differentiation factor lies in the offerings and coverage categories, whereby MRTA acts like a life insurance, the premium is lost in the end, but for MLTA it acts as a term policy, whereby there is cash-back in the event of no claim. Furthermore, the MRTA is a reducing balance coverage, that pays back in accordance with a reducing balance schedule, and at the end of the tenor the payable sum is zero. This is not the same for MLTA whereby the coverage is fixed from start, meaning the person gets cash-back mounting to the sum insured.

While it is easy to see, which options stands out the better, we need to further analyse two more factors. Firstly, it involves the fact that the premium for the MLTA is much higher. This can go to 10 times higher in totality compared to a MRTA premium. Which brings us to the second factor, which is the purpose. The purpose of the home mortgage insurance, if we can remember, is to cover us against TPD and death, whereby our family is not burdened with the financing. If we seek to find a reasonable cost approach and in the MRTA instance, to be financed by the bank via lump sum payment capitalised into the loan, then the choice is obvious.

Let us take an example in order to show the details. Thirty-year old Vaniza Carlos is buying a RM125,000 property, and is taking up a 30-year term 80% loan financing package. She is faced with the option of choosing a loan insurance package, and her friendly insurance agent Cryced sets out the terms as per Table 1.

Which will be your pick?

Just for analysis purposes, in order to equate the total cost of the MLTA to current value (to bring it to MRTA equivalent), using the NPV approach at 10% discount rate (method of derivation which was featured in my previous article), the NPV value works out to about RM9,950, which is effectively only about 3 times higher than the cost for MLTA. Year 2020 is 10 years into the loan agreement, where the outstanding loan sum would have reduced to about 75% of original sum.

 

Nevertheless, under the bancassurance umbrella, there are many types of term life policies which are not directly linked to the property but offers similar risk coverage. Bancassurance is defined as insurance business being provided by banks of financial institutions. This term was coined after banks started merging with insurance companies, and in combination started offering products with dual, loan and risk coverage facilities, among others. But do be careful, as MRTA and MLTA usually covers main critical illnesses (albeit limited from the full list of known 36 critical illnesses), whereas term life policies differs.

It is interesting to note that banks are now insuring this "business venture" or property investment, and if this can be extended to say a business of setting up a restaurant with an initial cost of RM100,000, with the same terms being applied. Food for thought, isn't it?

Raymond Roy Tiruchelvam … "I forget what I was taught, I only remember what I learnt" is a business planner with SABIC group of companies

HLB Plan Rewards Customers With Guaranteed Returns

KUALA LUMPUR, June 14 (Bernama) -- Hong Leong Bank's (HLB) single-premium non-participating Secured Returns Plan aims to enable the customers to lock in their financial security with increasing guaranteed income for 14 years.

In a statement here Monday, HLB said the guaranteed income would increase periodically, 3.50 per cent per annum for year one to three, 3.65 per cent for year six to 10, and 4.10 per cent for year 11-14.

"The income is payable on a yearly basis," it said.

HLB said the plan also offered life insurance protection up to 125 per cent and was 100 per cent capital-guaranteed upon maturity.

"The flexibility of this plan allows customers to cash out at 100 per cent capital back at surrender periods at the end of year 3,5 or 10," it said.

Its chief operating officer (personal financial services), Moey Tan, said the plan was a simple yet flexible for customers who were keen to diversify their investments.

"It is easy to enroll and is specially formulated for those who wants both saving plan plus insurance coverage without the hassle of investing in too many schemes," she said.

The endowment plan is open to customers aged between 18 and 60 years and is available from June 9-30.

It is underwritten by Hong Leong Assurance Bhd.

Prudential pulling out of US$35bil AIA deal

The Star Malaysia    Thursday June 3, 2010

HONG KONG: British insurer Prudential plc is withdrawing from a US$35.5bil deal to buy American International Group Inc's Asian life insurance business, American International Assurance Ltd (AIA), paving the way for a potential listing of AIA.

The widely expected move by Prudential yesterday came after AIG knocked back a lower offer from it a day earlier, and would help the British firm avoid an embarrassing defeat at the hands of shareholders next week.

"We listened carefully to shareholders over the price and initiated a renegotiation of the terms with AIG. Unfortunately, it has not been possible to reach agreement," Prudential chairman Harvey McGrath said in a statement. "We are therefore withdrawing from the transaction."

Prudential's Hong Kong-listed shares jumped as much as 7.1% to HK$68, tracking a 6.3% rise in its London-listed shares on Tuesday. But the stock was trading down 0.6% by 0400 GMT, a level at which bulk of the morning trade took place.

A failed deal, which was slated to become the biggest insurance M&A deal in history, is likely to make the position of Prudential's management untenable and increase the call for a break-up of the British insurer, analysts and fund managers have said.

Chief executive Tidjane Thiam, who has been in the job less than a year, had championed the AIA deal, arguing it gives the 162-year-old Prudential a rare opportunity to grab a commanding presence in Asia.

As a result of the withdrawal move, Prudential said it would not proceed with a US$21bil rights offering in London and Hong Kong designed to raise money to finance the deal.

Prudential estimated the cost of the failed AIA transaction so far at about £450mil (US$659mil), which includes a break-up fee of £152.6mil.

The British company did not say that the AIG agreement has been formally terminated but said in the statement it was "expected".

AIG chief executive Robert Benmosche was in favour of accepting the deal on revised terms as it offered more liquidity, and sooner, one person familiar with the situation told Reuters. But the board, which met late on Monday, decided against doing so.

One important sticking point was that AIG's board wanted assurances from Prudential that it would be able to close a revised deal, other sources familiar with the matter said.

Prudential was not able to provide the assurances the AIG board was seeking, the sources said.

The UK insurer originally offered US$35.5bil for AIA, then lowered it to US$30.4bil amid resistance from shareholders that the company was overspending.

AIG is most likely to revive the initial public offering of AIA once the deal is officially terminated. But there are doubts whether an IPO could fetch the same valuation offered by Prudential. — Reuters

The Missing Piece 01

The Missing Piece

AIG said Tuesday it won't accept lower Prudential offer for AIA

The Star Malaysia    Published: Tuesday June 1, 2010 MYT 2:52:00 PM

BANGKOK: U.S. insurer AIG said Tuesday it won't accept a lower offer for its Asian insurance business from Prudential, potentially scuttling the multibillion dollar deal.

London Stock Exchange-listed Prudential PLC was trying to lower the $35.5 billion price agreed for the purchase of AIA, which is the Asian insurance business of American International Group Inc.

"After careful consideration, the company will adhere to the original terms of its previously announced agreement with Prudential," AIG said in a statement.

"The company will not consider revisions to those terms."

The deal has faced resistance from Prudential shareholders, who believed the price was too high.

Prudential needs to line up support from holders of 75 percent of its shares by June 7.

If the AIA deal falls through, Prudential will owe AIG a termination fee of $230.6 million

Opponents of the deal have formed a Prudential Action Group, which is seeking to muster support for a vote of no confidence in the Prudential's chief executive Tidjane Thiam.

The group claims that at least 15 percent of shareholders intend to vote against the deal.

AIG, which received more than $180 billion in aid from the U.S. government during the financial crisis, hoped to raise a total $51 billion from the Prudential deal and the sale of its American Life Insurance Co. division to MetLife Inc. - AP

Prudential confirms talks to renegotiate AIA deal

The Star Malaysia    Saturday May 29, 2010

HONG KONG: Prudential said it was trying to negotiate a cut in the US$35.5bil it has agreed to pay for American International Group's (AIG) Asian unit, AIA, amid fears its shareholders might block the deal as too expensive.

"We confirm that discussions regarding the current status of the transaction have taken place between Prudential and AIG and are continuing," Prudential said in a statement yesterday.

"These discussions may or may not lead to a change in the terms of the combination of AIA Group Ltd and Prudential," it said.

Reuters had earlier reported that Prudential was trying to cut the cost of the AIA takeover amid rising pressure from investors.

One source close to the deal told Reuters Prudential was pushing to reduce the price by US$5bil, a reduction of 15%.

"A revised proposal has been submitted to AIG, with a price tag of about US$30bil," the source said.

Prudential's London-listed shares were down 0.6% at 544p at 0747 GMT.

Prudential plans to part finance the deal, the insurance sector's biggest-ever acquisition, with a US$21bil rights issue, but investor support for the fundraising is in doubt after some said AIA's purchase price is too high.

In order to proceed, the deal, which would allow bailed-out AIG to repay a big chunk of its debt to the US taxpayer, needs to get 75% approval at a shareholder vote scheduled for June 7.

Any change to the price should reflect integration risks that Prudential would face, said Patricia Cheng, an analyst with CLSA.

"Prudential's target, to triple AIA's new business value by 2013, looks too aggressive," she said. "The price can't be based on this target. But the price can't get much lower either. Investors have an idea of these integration risks and I don't think they are likely to agree to the deal."

Said a person with knowledge of the matter: "Technically, the price can be negotiated up or down, but the question is whether there is the will to do so.

"A reduction in the price by US$5bil would be a significant 14% reduction in the price agreed. It may be enough to appease shareholders and get the deal done," Oriel Securities analyst Marcus Barnard wrote in a note.

On Thursday, Prudential's London-listed shares rose almost 7% on market talk it may call off the deal or fail to get the required 75% shareholder approval to get it done.

Ahead of the June 7 investor vote, an influential voting adviser, RiskMetrics, has told investors to vote against the deal.

AIG's majority owner, the US Treasury, has maintained that it has the option to revive the planned initial public offering of AIA it was pursuing before Prudential's bid. — Reuters

AIG had quashed that plan in favour of the Prudential deal, but there were serious misgivings about the takeover among AIA staff and chief executive officer Mark Wilson has threatened to quit if the deal goes ahead, the Financial Times reported earlier this week. — Reuters

Prudential's New Premiums For Q1 Up 55 Per Cent

Bernama    May 26, 2010 18:47 PM

KUALA LUMPUR, May 26 (Bernama) -- Prudential Assurance Malaysia Bhd (PAMB)'s new business or annual premium equivalent, comprising retail life insurance sales and Takaful, increased to RM191 million for the first quarter ended March 31, 2010 compared with RM123 million posted in the same period last year.

"PRUmy child, the first insurance plan ever in Malaysia to cover a child when he or she is still in the mother's womb, accumulated annual premium equivalent sales of RM5 million within one month from its launch on March 1, 2010," its chief executive officer, Charlie Oropeza said Wednesday.

"Another product that was launched and has since gained strong appeal from our sales force and customers is PRUcash double reward, an anticipated endowment plan that offers guaranteed payouts," he said.

PAMB, he said will continue to introduce products that give value to the customers.

ING not worried by merger talks

The Star Malaysia    Saturday May 29, 2010    By DALJIT DHESI

KUALA LUMPUR: ING Insurance Bhd, which is projecting more than 25% in new business premiums this year, is unperturbed by the ongoing merger talks between Prudential Plc and American International Assurance (AIA), saying it will not derail the company's growth over the next few years.

President and chief executive officer Datuk Dr Nirmala Menon said the company was aware of the talks and had their own strategies and plans in place.

"Despite this, we are expecting solid growth over the next few years for all our lines of business," she told StarBizWeek.

"We believe in profitable growth and are not much concerned about the ongoing talks between Prudential and AIA as the company believes there is enough opportunity for everyone in the market."

The penetration rate for life insurance in Malaysia is about 40%, which is still considered low compared with some other countries in Asia.

The core growth strategies for ING Insurance include building its agency workforce and driving productivity for its tied agency as well as maintaining its lead positions in group insurance (employee benefits) and bancassurance.

Insurance giant AIG recently agreed to sell its Asian life insurance unit, AIA, to Britain's Prudential Plc for US$35.5bil despite some objections from Prudential's shareholders in the largest insurance deal ever, paving the way for Prudential to become South-East Asia's biggest insurer. At the moment, the merger talks between the two are still impending.

On May 17, Prudential launched a US$21bil rights issue to help pay for the purchase of AIA where Prudential's existing shareholders will have the right to buy 11 new shares for every two they now own at £1. 04 (US$2.09) each.

Asked whether ING Insurance was looking at mergers and acquisitions to further strengthen its foothold in the industry, Nirmala said it would look into it but was not on a shopping spree at the moment. "We are in a consolidation mode as in the last two years, the company has actually cut expenses and rationalised its business needs."

For this year, ING Insurance is projecting new business premiums in excess of 25% to more than RM500mil compared with RM433mil last year. In 2008, new business premiums stood at RM375mil.

Nirmala said it was on track to achieve the figure (of more than RM500mil) based on its numbers in the first quarter when new business premiums rose by 13% to RM85mil against RM75mil in the same quarter last year. She attributed this growth to its multi-distribution strategy, comprising agency, bancassurance and employee benefits business.

Apart from this, she said, its new product — INGeasi for Health to be launched in July — would contribute between RM50mil and RM60mil of its total new business premiums.

One of the company's major focuses had been to recruit more agents, Nirmala said, adding that number of staff recruited for the first quarter was more than 50% of that of the whole of last year. It now has about 10,000 agents and plans to recruit 5,000 more this year.

Asked whether the risk-based capital framework was good for the industry, she said it was as it would create an even playing field for all insurers.

According to Nirmala, insurers under the framework had to be very careful on the amount of capital they had and the type of businesses they could write as the risk-based approach required capital to match or reflect the risk profile of the insurer.

First Personal Accident Insurance For The Blind

Bernama    May 21, 2010 18:17 PM

KUALA LUMPUR, May 21 (Bernama) -- For the first time, the blind or visually-impaired can purchase personal accident insurance with premiums ranging from as low as RM12.15, to RM56.30.

The Smart Aid Insurance Package for the Blind was launched Friday by Axa Affin General Insurance Berhad, in collaboration with the Malaysian Association for the Blind (MAB).

The package offers a choice of three premiums of RM12.15, RM24.30 and RM56.30, with permanent disablement or death insurance of RM10,000, RM20,000 and RM50,000, accordingly.

MAB acting president Datuk S. Kulasegaran said this was the first personal accident insurance for the blind, without any discriminative additional premium.

"Smart Aid covers permanent disablement, accidental medical expenses and funeral expenses," he said.

He said with the protection, the blind could move around with greater confidence.

"In the same way as the sighted, the blind are just as exposed to risks every day or more so...the blind are no different from the rest of society," he said.

Social Welfare Department deputy director-general (Planning) Lai Poh Guat, who was also present at the launch, welcomed the initiative, saying it would help the blind be more independent and feel more secure.

For more information on the insurance package, contact MAB, Jalan Tebing, off Jalan Tun Sambanthan 4, Brickfields or 03-2272 2677.