Zurich Insurance Malaysia Berhad (ZIMB) ushered in the new year by transferring its general insurance business to a newly-incorporated entity, known as Zurich General Insurance Malaysia Berhad (ZGIMB).
The transfer covers employees, assets and liabilities, distributors and contracts under the general insurance business. Additionally, David Fike, who was formerly President of General Insurance of ZIMB, has now been appointed the Chief Executive Officer (CEO) of ZGIMB.
To note, there will be no changes to the terms and conditions of the general insurance policies previously issued by
ZIMB. However, from 1 January onwards, all claims incurred from existing and new general insurance policies will be managed by ZGIMB.
Reflecting the new structure and scope of the company, ZIMB has also been
renamed to Zurich Life Insurance Malaysia Berhad (ZLIMB) with Philip Smith remaining as its CEO. There is no impact on benefits and provisions under existing ZIMB life insurance policies as a result of the name change.
The good news is, both ZGIMB and ZLIMB will continue to operate through its combined network of branches across 40 locations nationwide. Customers will continue to receive quality service from ZGIMB and its agents and brokers as well as brokers and sales advisors from ZLIMB.