Anika aims to chalk up total premium of RM100mil
The
Star - Tuesday, February 04, 2003
ANIKA
Insurance Brokers Sdn Bhd, one of the key players in the local insurance
brokerage market, expects to chalk up a higher total premium of
RM100mil by the end of this year, compared with RM80mil last year.
Its
director and chief executive officer Chong Ping Leong sees the growth
in premium coming from increasing demand for its services as well
as the improving economy.
Our
customers are well diversified and are mainly large corporations
spanning various sectors manufacturing, telecommunications,
power generation etc. We have been talking to our clients and business
associates and are confident there will be a continuous demand for
our services, he told StarBiz in an interview.
The
company, incorporated in 1968, has shareholders' funds of RM10mil
an encouraging figure for a home-grown insurance broker.
It is also ISO 9001:2000 certified.
The
company handles general as well as life businesses, with the former
contributing about 95% of total earnings.
According
to Chong, as part of its expansion plan, the company is looking
into opening up offices on a joint venture basis in such countries
as China, the Philippines, Thailand and Indonesia.
It
is also to take advantage of the liberalisation of the financial
services industry with full implementation of the Asean Free Trade
Area regime.
Chong
added that Anika would probably tap into these countries either
by next year or in 2005 and currently was conducting feasibility
studies there.
On
the insurance broking market in Malaysia, he said:
There
are 35 players currently in the market and we are one of the key
players. It is a growing market due to the increasing demand for
services offered by insurance brokers and consultants.
Although
there are some big boys operating here, we are still confident that
the company can compete due to our expertise and financial strength.
The
company at present handles all classes of insurance and has recently
started to focus on specialised areas like liability classes and
health insurance.
Anika,
which has a staff strength of 73, is headquartered in Kuala Lumpur,
with branch offices in Penang, Ipoh, Johor Baru and Kota Kinabalu.
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