Kurnia Group
Kurnia Asia targets 5-8pc premium growth
BUSINESS TIMES - Thursday, December 13th, 2007
The insurer also hopes to increase its share of 14.5 per cent of the overall local general insurance market to 18 per cent in the next three to five years.
KURNIA Asia Bhd aims to achieve between five and eight per cent growth in gross premium for the financial year ending June 30, 2008, managing director and chief executive officer Datuk Adrian Loh said.
"We want to grow organically. We are also looking at 63-65 per cent growth in claims and 18-21 per cent in management expansion," he told reporters after the company's annual general meeting in Petaling Jaya today.
The company also hopes to increase its current share of 14.5 per cent of the overall local general insurance market.
"Our near term target is 18 per cent which we believe we can achieve in the next three to five years while our distant target is 30 per cent," he said.
Loh also said that Kurnia Asia expects the ratio of contribution from motor and non-motor insurance to be at 85:15 from 89:11 currently.
He said the company will continue to focus on promoting and widening its market base for non-motor products via existing distribution channels, while actively exploring other avenues of distribution, particularly by developing strategic collaboration with synergistic business partners. - Bernama.