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Hong Leong Assurance Berhad (Malaysia)

Main Activities: Funds, Trusts, and Other Financial Vehicles
Full name: Hong Leong Assurance Berhad Profile Updated: February 04, 2020
Buy our report for this company USD 19.99 Most recent financial data: 2019 Available in: English Download a sample report

Hong Leong Assurance Berhad (the Company) started its business as a general insurance company under the name of Malaysia Pacific Insurance Berhad in 1972. The life insurance business was added into its portfolio a year later. In December 1982, Hong Leong Assurance Sdn Bhd, a composite insurance company was formed eventually acquiring the entire general and life business of Malaysia Pacific Insurance. Today, the Company is a subsidiary of HLA Holdings Sdn Bhd (HLAH), which is wholly-owned by Hong Leong Financial Group Berhad, the financial services arm of Hong Leong Group Malaysia. Pursuant to a strategic partnership, in October 2010, the Company merged its general insurance business with MSIG Insurance (Malaysia) Bhd (MSIM). Concurrently, HLAH took a 30% equity interest in MSIM and Mitsui Sumitomo Insurance Company Limited (MSI) took a 30% equity interest in the Company. Moving forward, the general insurance business would be provided by MSIM, while the life insurance business would continue to be provided by the Company.

Headquarters
Level 3, Tower B, PJ City Development, 15A, Jalan 219, Seksyen 51A
Petaling Jaya; Selangor; Postal Code: 46100

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Website: http://www.hla.com.my

Basic Information
Financial Auditors:
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Incorporation Date:
1972
Key Executives
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Chairman
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Director
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Director
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Director
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Director
Ownership Details
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1%
Company Performance
Financial values in the chart are available after Hong Leong Assurance Berhad report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency MYR. Absolute financial data is included in the purchased report.
Net insurance premium revenue
-5.94%
Net fee and commission income
6.01%
Operating profit (EBIT)
-9.07%
Net Profit (Loss) for the Period
4.54%
Total assets
12.23%
Investments
16.99%
Receivables
-40.75%
Total equity
7.81%
Net Profit Trend
-1.85%
Return on Equity (ROE)
-0.39%

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