Something on Insurance from Minority Shareholder Watchdog Group

MSWG simply means Minority Shareholder Watchdog Group

Is this a good comparison of insurance and takaful models?

I am a fan of MSWG, they are just so down to earth calling themselves WATCHDOG, and of course DOG!

For the purpose of this writeup, we wish to write something on Syarikat Takaful Malaysia Berhad’s coming May 5th 2011 AGM. This AGM is scheduled to be held at Dewan Ahmad Ibrahim, Dataran Kewangan Darul Takaful, Kuala Lumpur. If you are a shareholder, do go there to hear out the Board’s explanation of things…..

Coming back to the MSWG, we wish to highlight one important point that they hope the shareholders would focus on come this meeting…. I hope you enjoy reading our postings but do comment, for comments are bright sparks and also encouragement for our bloggers to continue writing stuff that helps the community.

The important pointer for your meeting….

“The financial statements showed a 20.9% decline in gross contributions for investment-linked takaful business (ILB) in 2010 (RM26.1 million) compared to the figure for 2009 (RM33.1 million) despite financial year 2010 was on 18-month period against 2009’s figure on 12-month.”

Of course you can ask the Board during the AGM about other things like, whether the company has done any simulation in respect of the Risk-based Capital (RBC) framework, the current framework which had been adopted in 2008 by the Conventional Insurance industry.

Cheers!

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