CIMB targets RM200m in non-life insurance premiums for 2018

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KUALA LUMPUR, April 3 — CIMB Group Holdings Bhd is on track to achieve its target of RM200 million gross written premiums for its non-life insurance business this year.

Chief Executive Officer (Group Consumer Banking), Samir Gupta, said the group had been partnering with Sompo Holdings (Asia) Pte Ltd to market and distribute Sompo’s non-life insurance products through its distribution network, which includes Singapore and Indonesia.

“We started off in 2016 in Singapore and Indonesia, and in Malaysia in August last year.

“In Malaysia, the response has been good. In the first four months in the market last year, the group managed to collect a total premium of RM22 million while in the first two months of this year, the group had already achieved 20 per cent of the target,” he told reporters after the launch of CIMB-Sompo bancassurance partnership in Malaysia.

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