Speaking to the media at the official launching ceremony, Ooi Say Teng, the Chief Executive Officer of Uni.Asia Life Assurance Berhad said, “Uni.Asia Life Assurance Berhad is fast expanding its business through the setting up of more agencies throughout the country. As at 2004, Uni.Asia Life Assurance Berhad has a total of 800 agencies and this figure is expected to reach 1500 agencies by the end of 2005. From these numbers, we are expecting to increase the volume of business by as much as 50% compared to 20% which we gained in 2003/2004 financial year. Expending the network of agencies is important to us in view that it will enable the company to offer and provide the necessary coverage for new policy holders to improve the quality of life.”

Touching on the achievement of Uni.Asia Life Assurance Berhad, Ooi revealed that for the first nine months of 2004 (Uni.Asia Life Assurance Berhad financial year ends in March); the company’s regular premium grew by 44.6% against the industry’s growth of 4.3%. In terms of Annualised Premium Equivalent or APE, the company’s APE grew by 45% against the industry’s growth of 13.8% during the same period. As for the Mortgage Reducing Term Assurance or MRTA, Uni.Asia Life Assurance Berhad recorded a growth of 94% in the first 9 months of the company’s financial year from April to December 2004.

Over the years, Uni.Asia Life Assurance Berhad has developed an impressive range of products and services to cater the various needs of policy holders. Among the most recent is the Investment Link insurance whereby policy holders can benefit from the investments made by the insurance company based on the premium paid. As a company that is sensitive and responsive to customers’ needs, Uni.Asia Life Assurance Berhad will be launching several new products this year and the concentration is on health and critical illnesses coverage. In addition to this, Uni.Asia Life Assurance Berhad is also actively promoting its bancaasurance products and services through its business partners that are UOB Malaysia and EON Bank.

Ooi further explained that following the completion of the re-branding and re-positioning exercises which the company undertook in 2002, Uni.Asia Life Assurance Berhad is growing at an unprecedented pace with major changes made in terms of product strategies, enhancement of processes and capital requirement. The management of Uni.Asia Life Assurance Berhad is confident that the company will achieve their business objective very much earlier with defiance to conventional wisdom that believe a life assurance company can only turnaround within 7-10 years.