Press Release

Gibraltar BSN Life to leverage on BSN’s 8m customers – The Malay Mail

- 30 Apr 2014 -

KUALA LUMPUR - Uni Asia Life Assurance Bhd (UAL) has changed its name to Gibraltar BSN Life Bhd (Gibraltar BSN Life) following is acquisition by Bank Simpanan Nasional Bhd (BSN) in January.

Gibraltar BSN Life Bhd and its new shareholder Prudential Financial Inc (PFI), and BSN will leverage on BSN's eight million existing customers.

Its chied executive officer, Vincent Kwo Shih Kang, said PFI and BSN had begun building an even stronger foundation for providing a broad array of protection that met the growing life insurance needs of Malaysians.

At the official launch of Gibraltar BSN Life by Finance Ministry deputy secretary-general (Policy) Datuk Mat Noor Nawi yesterday, he said the company had already kicked off an insurance specialist programme aimed at simplifying the process for purchasing life insurance at selected branches.

"Currently we have 20 insurance specialists who have graduated from the programme and another 25 under training. We expect a total of 104 insurance specialists by year-end and are looking forward to delivering even greater value to policyholders through innovative products and services in years to come.

"Gibraltar BSN Life plans to simplify the customer's experience in a holistic manner across the full spectrum of its market segments, offering greater accessibility to its product and services through its three main distribution channels - agencies, Bancassurance and PosAssurance - across Malaysia."

BSN chief executive officer Datuk Adinan Maning said the primary goal of Gibraltar BSN Life was to enhance the range of offerings to its customers at its branches, and enhance its ability to reach consumers beyond bank branches especially in the rural and semi-urban market.

"With its 50 existing branches in 11 states, Gibraltar BSN Life will capitalise on network spanning nationwide," he said.

He said the the government aimed to make insurance affordable for everyone as part of Economic Transformation Programme (ETP).

It hoped that 80 per cent of the population would becovered by life insurance by 2020 compared to 54 per cent at present.