Commenting on the plans, Sun Life Malaysia CEO Ooi Say Teng was quoted by StarBiz as saying that the game plan involved building the capabilities of the company and later capitalizing on them to grow its business and outdo its competitors.
"It will also involve investment in information and communications technology (ICT), branding and human resource.
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"The next stage will be in 2014 and 2015 when the company will exploit its capabilities to fortify Sun Life Malaysia’s position and brand in the competitive insurance and takaful market,” Say Teng added.
The company said that it will boost its bancassurance to enable the development of multiple distribution channels, while introducing various insurance products and services.
Sun and the Malaysian sovereign wealth fund Khazanah, acquired CIMB Aviva Assurance and CIMB Aviva Takaful, from Aviva International and CIMB, and rebranded them as Sun Life Malaysia Assurance and Sun Life Malaysia Takaful.
In Sun Life Malaysia, Sun and Khazanah will each own 49% stake, while CIMB Group will own remaining 2% stake.
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