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* [[Life insurance]]
* [[Life insurance]]
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| revenue = {{nowrap|{{decrease}} [[Ringgit Malaysia|RM]]{{0|0,}}281&nbsp;million (2014)<ref name="2014 AR">{{citation |title=Annual Report 2014 |url=http://www.gibraltarbsn.com/gibraltar_bsn/pdf/GibBSN_FS_FPE_31122014_EN.pdf |publisher=Gibraltar BSN Life Berhad |date=2014-12-31 |access-date=2015-08-23 |format=pdf}}</ref>}}
| revenue = {{nowrap|{{decrease}} [[Ringgit Malaysia|RM]]{{0|0,}}281&nbsp;million (2014)<ref name="2014 AR">{{citation|title=Annual Report 2014 |url=http://www.gibraltarbsn.com/gibraltar_bsn/pdf/GibBSN_FS_FPE_31122014_EN.pdf |publisher=Gibraltar BSN Life Berhad |date=2014-12-31 |access-date=2015-08-23 |format=pdf }}{{dead link|date=January 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>}}
| net_income = {{nowrap|{{decrease}} -RM{{0|,}}1&nbsp;million (2014)<ref name="2014 AR"/>}}
| net_income = {{nowrap|{{decrease}} -RM{{0|,}}1&nbsp;million (2014)<ref name="2014 AR"/>}}
| assets = {{nowrap|{{decrease}} RM2,201&nbsp;million (2014)<ref name="2014 AR"/>}}
| assets = {{nowrap|{{decrease}} RM2,201&nbsp;million (2014)<ref name="2014 AR"/>}}
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'''Gibraltar BSN Life Berhad''' is a Malaysian [[life insurance]] company. It is a [[joint venture]] between U.S.-based [[Prudential Financial|Prudential Financial Inc.]] (PFI) and [[Bank Simpanan Nasional]] (BSN).
'''Gibraltar BSN Life Berhad''' is a Malaysian [[life insurance]] company. It is a [[joint venture]] between U.S.-based [[Prudential Financial|Prudential Financial Inc.]] (PFI) and [[Bank Simpanan Nasional]] (BSN).


The company was formerly known as Uni.Asia Life Assurance and was a joint venture between [[United Overseas Bank]] and [[DRB-HICOM]].<ref>{{cite news |title=UOB: Sale Of 49% Indirect Shareholding In Uni.Asia Life Assurance Berhad |url=http://www.shareinvestor.com/news/news.html?source=si_express&nid=67141 |publisher=United Overseas Bank Limited |date=2013-08-15 |access-date=2015-08-23}}</ref> Uni.Asia Life itself was the successor to EON CMG Life Assurance Berhad from 2003.<ref>{{cite web |title=Corporate milestones |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/milestones.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23}}</ref> Uni.Asia Life was sold to PFI and BSN in 2014 for RM518 million.<ref name="expand">{{cite news |title=Gibraltar BSN Life set to expand |url=http://www.freemalaysiatoday.com/category/business/2014/04/30/gibraltar-bsn-life-set-to-expand/ |newspaper=The Malaysian Reserve |author=Azli Jamil |date=2014-04-30 |access-date=2015-08-23}}</ref> PFI and BSN hold 70 and 30 percent stakes in the company respectively.<ref name="here comes">{{cite news |title=Here comes Gibraltar BSN Life |url=http://www.thesundaily.my/news/1031897 |newspaper=[[The Sun (Malaysia)|The Sun]] |date=2014-03-30 |last=Yeong |first=Eva |access-date=2015-08-23}}</ref> (A 69 percent stake in UOB and DRB-HICOM's [[general insurance]] JV, Uni.Asia General Insurance, was sold separately to [[Liberty Mutual]] for RM374 million.<ref>{{cite news |title=Uni.Asia Capital sells 68% stake in Uni.Asia General for RM374.5m |url=http://www.thesundaily.my/news/961233 |newspaper=[[The Sun (Malaysia)|The Sun]] |date=2014-02-14 |access-date=2015-08-23}}</ref>)
The company was formerly known as Uni.Asia Life Assurance and was a joint venture between [[United Overseas Bank]] and [[DRB-HICOM]].<ref>{{cite news |title=UOB: Sale Of 49% Indirect Shareholding In Uni.Asia Life Assurance Berhad |url=http://www.shareinvestor.com/news/news.html?source=si_express&nid=67141 |publisher=United Overseas Bank Limited |date=2013-08-15 |access-date=2015-08-23}}</ref> Uni.Asia Life itself was the successor to EON CMG Life Assurance Berhad from 2003.<ref>{{cite web|title=Corporate milestones |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/milestones.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23 |deadurl=yes |archiveurl=https://web.archive.org/web/20150915215226/http://www.gibraltarbsn.com:80/gibraltar_bsn/about/milestones.php |archivedate=2015-09-15 |df= }}</ref> Uni.Asia Life was sold to PFI and BSN in 2014 for RM518 million.<ref name="expand">{{cite news |title=Gibraltar BSN Life set to expand |url=http://www.freemalaysiatoday.com/category/business/2014/04/30/gibraltar-bsn-life-set-to-expand/ |newspaper=The Malaysian Reserve |author=Azli Jamil |date=2014-04-30 |access-date=2015-08-23}}</ref> PFI and BSN hold 70 and 30 percent stakes in the company respectively.<ref name="here comes">{{cite news |title=Here comes Gibraltar BSN Life |url=http://www.thesundaily.my/news/1031897 |newspaper=[[The Sun (Malaysia)|The Sun]] |date=2014-03-30 |last=Yeong |first=Eva |access-date=2015-08-23}}</ref> (A 69 percent stake in UOB and DRB-HICOM's [[general insurance]] JV, Uni.Asia General Insurance, was sold separately to [[Liberty Mutual]] for RM374 million.<ref>{{cite news |title=Uni.Asia Capital sells 68% stake in Uni.Asia General for RM374.5m |url=http://www.thesundaily.my/news/961233 |newspaper=[[The Sun (Malaysia)|The Sun]] |date=2014-02-14 |access-date=2015-08-23}}</ref>)


PFI is an asset management and life insurance provider in the U.S. with US$1.2 trillion of [[assets under management]] in June 2015.<ref>{{cite news |title=Prudential Financial’s 2Q15 Earnings Beat Estimates |url=http://marketrealist.com/2015/08/prudential-financial-2q15-earnings-beat-estimates/ |publisher=Market Realist |last=Karr |first=Robert |date=2015-08-18 |access-date=2015-08-23}}</ref> It was attracted to the venture due to opportunities for growth stemming from the low life insurance penetration rate in Malaysia.<ref name="here comes"/> BSN is a statutory body under the Ministry of Finance responsible for encouraging savings and financial management among Malaysians, with retail deposits of RM12 billion in 2013.<ref>{{cite web |title=About us |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/corporate.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23}}</ref>
PFI is an asset management and life insurance provider in the U.S. with US$1.2 trillion of [[assets under management]] in June 2015.<ref>{{cite news |title=Prudential Financial’s 2Q15 Earnings Beat Estimates |url=http://marketrealist.com/2015/08/prudential-financial-2q15-earnings-beat-estimates/ |publisher=Market Realist |last=Karr |first=Robert |date=2015-08-18 |access-date=2015-08-23}}</ref> It was attracted to the venture due to opportunities for growth stemming from the low life insurance penetration rate in Malaysia.<ref name="here comes"/> BSN is a statutory body under the Ministry of Finance responsible for encouraging savings and financial management among Malaysians, with retail deposits of RM12 billion in 2013.<ref>{{cite web|title=About us |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/corporate.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23 |deadurl=yes |archiveurl=https://web.archive.org/web/20150817145459/http://www.gibraltarbsn.com:80/gibraltar_bsn/about/corporate.php |archivedate=2015-08-17 |df= }}</ref>


The company's name is derived from PFI's logo which incorporates an image of the [[Rock of Gibraltar]].<ref>{{cite web |title=The Company logo |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/company.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23}}</ref> Its stated expansion plan is to offer easy-to-understand products, target the semi-rural and rural population, and leverage on BSN's eight million-strong customer base.<ref name="expand"/><ref name="here comes"/> It had an 800-strong [[insurance agent|agency]] force in April 2014.<ref>{{cite news |title=Uni.Asia Life to bank on BSN network |url=http://www.thestar.com.my/Business/Business-News/2014/04/30/UniAsia-Life-to-bank-on-BSN-network/?style=biz |newspaper=[[The Star (Malaysia)|The Star]] |date=2014-04-30 |access-date=2015-08-23}}</ref>
The company's name is derived from PFI's logo which incorporates an image of the [[Rock of Gibraltar]].<ref>{{cite web|title=The Company logo |url=http://www.gibraltarbsn.com/gibraltar_bsn/about/company.php |publisher=Gibraltar BSN Life Berhad |access-date=2015-08-23 }}{{dead link|date=January 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> Its stated expansion plan is to offer easy-to-understand products, target the semi-rural and rural population, and leverage on BSN's eight million-strong customer base.<ref name="expand"/><ref name="here comes"/> It had an 800-strong [[insurance agent|agency]] force in April 2014.<ref>{{cite news |title=Uni.Asia Life to bank on BSN network |url=http://www.thestar.com.my/Business/Business-News/2014/04/30/UniAsia-Life-to-bank-on-BSN-network/?style=biz |newspaper=[[The Star (Malaysia)|The Star]] |date=2014-04-30 |access-date=2015-08-23}}</ref>


BSN also has a takaful JV with [[Prudential plc]] of the UK, [[Prudential BSN Takaful|Prudential BSN Takaful Berhad]].<ref name="here comes"/>
BSN also has a takaful JV with [[Prudential plc]] of the UK, [[Prudential BSN Takaful|Prudential BSN Takaful Berhad]].<ref name="here comes"/>

Revision as of 18:11, 11 January 2017

Gibraltar BSN Life Berhad
Company typePrivate limited company
Industry
Founded2014; 10 years ago (2014)
Headquarters
Bangunan Gibraltar BSN
16 Jalan Tun Tan Siew Sin, Kuala Lumpur
,
Malaysia
Key people
  • Benett Maximillian Theseira (Chairman)
  • Vincent Kwo (CEO)
Products
RevenueDecrease RM0,281 million (2014)[1]
Decrease -RM,1 million (2014)[1]
Total assetsDecrease RM2,201 million (2014)[1]
Total equityDecrease RM0,403 million (2014)[1]
ParentGibraltar BSN Holdings Sdn Bhd[1]


Websitewww.gibraltarbsn.com

Gibraltar BSN Life Berhad is a Malaysian life insurance company. It is a joint venture between U.S.-based Prudential Financial Inc. (PFI) and Bank Simpanan Nasional (BSN).

The company was formerly known as Uni.Asia Life Assurance and was a joint venture between United Overseas Bank and DRB-HICOM.[2] Uni.Asia Life itself was the successor to EON CMG Life Assurance Berhad from 2003.[3] Uni.Asia Life was sold to PFI and BSN in 2014 for RM518 million.[4] PFI and BSN hold 70 and 30 percent stakes in the company respectively.[5] (A 69 percent stake in UOB and DRB-HICOM's general insurance JV, Uni.Asia General Insurance, was sold separately to Liberty Mutual for RM374 million.[6])

PFI is an asset management and life insurance provider in the U.S. with US$1.2 trillion of assets under management in June 2015.[7] It was attracted to the venture due to opportunities for growth stemming from the low life insurance penetration rate in Malaysia.[5] BSN is a statutory body under the Ministry of Finance responsible for encouraging savings and financial management among Malaysians, with retail deposits of RM12 billion in 2013.[8]

The company's name is derived from PFI's logo which incorporates an image of the Rock of Gibraltar.[9] Its stated expansion plan is to offer easy-to-understand products, target the semi-rural and rural population, and leverage on BSN's eight million-strong customer base.[4][5] It had an 800-strong agency force in April 2014.[10]

BSN also has a takaful JV with Prudential plc of the UK, Prudential BSN Takaful Berhad.[5]

References

  1. ^ a b c d e Annual Report 2014 (pdf), Gibraltar BSN Life Berhad, 2014-12-31, retrieved 2015-08-23[permanent dead link]
  2. ^ "UOB: Sale Of 49% Indirect Shareholding In Uni.Asia Life Assurance Berhad". United Overseas Bank Limited. 2013-08-15. Retrieved 2015-08-23.
  3. ^ "Corporate milestones". Gibraltar BSN Life Berhad. Archived from the original on 2015-09-15. Retrieved 2015-08-23. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  4. ^ a b Azli Jamil (2014-04-30). "Gibraltar BSN Life set to expand". The Malaysian Reserve. Retrieved 2015-08-23.
  5. ^ a b c d Yeong, Eva (2014-03-30). "Here comes Gibraltar BSN Life". The Sun. Retrieved 2015-08-23.
  6. ^ "Uni.Asia Capital sells 68% stake in Uni.Asia General for RM374.5m". The Sun. 2014-02-14. Retrieved 2015-08-23.
  7. ^ Karr, Robert (2015-08-18). "Prudential Financial's 2Q15 Earnings Beat Estimates". Market Realist. Retrieved 2015-08-23.
  8. ^ "About us". Gibraltar BSN Life Berhad. Archived from the original on 2015-08-17. Retrieved 2015-08-23. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  9. ^ "The Company logo". Gibraltar BSN Life Berhad. Retrieved 2015-08-23.[permanent dead link]
  10. ^ "Uni.Asia Life to bank on BSN network". The Star. 2014-04-30. Retrieved 2015-08-23.
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