Malaysia

Aviva Group companies have been transacting insurance business in Malaysia since at least 1863 when North British & Mercantile established an operation in Penang.

Country History

Commercial Union Ipoh staff

Commercial Union Ipoh staff, 1939

1863

By May 18, the North British & Mercantile Insurance Company, later part of the Commercial Union Assurance Company, has established operations in Penang. Three days later, the Northern Assurance Company, later part of Commercial Union, appoints Messrs Frazer & Company agent for Penang.

1865

The Norwich Union Fire Insurance Society appoints the Borneo Company agent for Penang.

1882

Commercial Union appoints Aa Anthony & Company fire agent for Penang. In October, the agency is expanded to offer life insurance.

1889

The Yorkshire Insurance Company, later part of the General Accident Fire & Life Assurance Corporation, is operating in Penang.

1897

Norwich Union Fire appoints Sandilands Buttery & Company agent for Penang.

1899

The South British Insurance Company, later part of General Accident, acquires the Straits Marine Insurance Company, which is operating in Malaysia.

1907

Norwich Union Fire appoints the Borneo Company agent for Sarawak.

General Accident Malayan Outpost

General Accident Malayan Outpost

1908

The Yorkshire appoints C W Barnett & Company agent for Penang.

1909

South British now has agencies throughout the Malay peninsular at Malacca, Kuala Lumpur, Johore, Ipoh and Perak.

1910

The Yorkshire appoints Messrs Whittall & Company agents for the Federated Malay States.

1912

The Scottish Union and National Insurance Company, later part of Norwich Union Fire, is represented by Cumberbatch & Company, agent for Penang.

1926

Norwich Union Fire appoints Gibson, Andersen & Butler agent for Kuala Lumpur.

1933

Scottish Union and National appoints ICI Malaya Ltd agent for Malaysia.

1939

By this date, the Northern manager at Ipoh is Mr R V Welch.

1947

Norwich Union Fire appoints the Borneo Company agent for Sabah.

1958

Norwich Union Fire opens a local office in Kuala Lumpur. The office reports to Singapore.

1962

Norwich Union Fire absorbs the business of Scottish Union and National in Malaysia.

1963

General Accident opens a branch in Kuala Lumpur.

1976

Norwich Winterthur Insurance (Malaysia) SND BHD is established and acquires the business of Norwich Union Fire in Malaysia.

1978

Commercial Union Assurance Malaysia BHD is established and acquires the business of Commercial Union in Malaysia.

1981

General Accident forms a local subsidiary joint venture with Timuran Holdings BHD and Tab-Timuran SND BHD called General Accident Insurance (Malaysia) SND BHD. The new company takes over the business of the General Accident Malaysia branch.

1985

Straits & Island General Insurance SND BHD is established.

1991

Norwich Union Fire withdraws from Malaysia.

1997

Straits & Island General Insurance SND BHD becomes GA Insurance BHD, a subsidiary of General Accident.

1998

GA Insurance BHD changes its name to CGU Insurance BHD following the merger of General Accident and Commercial Union.

1999

Commercial Union Assurance (Malaysia) BHD establishes an operation located at 9th floor, Menara Promet, Jalan Sultan Ismail, Kuala Lumpur. Later in the year, the company merges with General Accident Insurance (Malaysia) BHD.

2002

CGU Insurance BHD changes its name to Aviva Insurance BHD.

2005

Aviva disposes of Commercial Union Assurance (Malaysia) BHD and Aviva Insurance BHD.

2007

Aviva announces that it is entering the Malaysian long-term savings market through a joint venture with the CIMB Group, listed in the Bursa, Malaysia's stock exchange, as Bumiputra-Commerce Holdings Berhad (BCHB).

2013

In January 2013 Aviva plc announces that it has reached agreement to sell its 49% interest in CIMB Aviva Assurance Berhad and CIMB Aviva Takaful Berhad to Sun Life Assurance Company of Canada for a consideration of £152 million payable in cash.

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