MAA to undergo rebranding

The Malaysian Assurance Alliance Bhd (MAA) is to undergo a "several million-dollar" rebranding exercise following its
acquisition by Zurich, chief executive officer Chee Cheong said today.

He said part of the exercise would include a name change on April 30 and remodelling of its 39 branches nationwide, with a new concept in line with the Zurich brand, which is expected to be completed by the third quarter of this year.

"As we embark on the next phase of our integration, we hope to combine MAA's strong reputation and local market knowledge with Zurich's international brand," he told a media briefing to update on MAA's upcoming plans.

However, Chee declined to reveal the exact amount of the rebranding cost, saying the funding for the exercise would come from its headquarters in Zurich, Switzerland.



On Sept 30, 2011, Zurich Insurance Co Ltd, a unit of Zurich Financial Services Group, completed the acquisition of 100 per cent share capital of MAA from MAA Holdings, making MAA a subsidiary of Zurich.

Meanwhile, Chee said the company aims to become the best insurer in Malaysia and recognised by its customers, shareholders, distributors and employees.

The immediate focus, he said, is on strengthening its distribution network and reach as well as offering products that are valued and demanded by customers.

"We are here for the long term, so we need to build a sustainable business," he said, adding "as people get more affluent the demand for insurance products is there."

Zurich, with a solid financial position and a strong S&P credit rating of AA-, has 60,000 employee serving customers in more than 170 countries. -- Bernama