We are delighted to share that Generali has acquired a controlling majority in AXA Affin joint ventures in Malaysia and 100% purchase of MPI Generali Insurans Berhad. On 1st April 2023, the businesses have been integrated under the launch of a single, unified brand - Generali Malaysia, one of the largest general insurers and emerging life insurer in Malaysia.
Our new milestone marks our renewed drive and commitment to be your trusted Lifetime Partner. Now with an expanded scale, touchpoint and partner network, we will continue to uphold the trust you have in us to shape a safer and more sustainable future for you and our community.
Together as ONE, we are bigger, better and stronger.
One of the largest general insurers and emerging life insurer in Malaysia serving best-in-class insurance protection solutions.
A global insurance leader with over 190 years of experiences offering comprehensive protection solutions to individuals and businesses.
> 9,000 agents and partners,
>1,600 employees and 49 branches nationwide serving close to 2 million customers.
As a Lifetime Partner to our customers, we transform our role to a trusted advisor by providing integrated solutions that add genuine value to people’s lives, health, home, mobility, work and support them in achieving their life goals and dreams.
Pursuant to the successful name change and business transfer of MPI Generali to Generali Insurance Malaysia Berhad, we will be launching and operating under a single, unified brand - Generali Malaysia from 1st April 2023, also known as Customer Day 1. All digital and physical assets including product materials will be branded Generali from 1st April 2023 onwards.
All digital and physical assets including product materials will be changed to Generali from 1st April 2023 onwards. Please be assured that our commitment remains, and there would be no changes to the operations, products and services rendered to our partners, customers, and stakeholders.
Generali is one of the largest global insurance and asset management providers. With over 190 years of insurance experience, Generali is now serving 69 million customers in more than 50 countries worldwide. Generali Malaysia is one of the largest general insurers and emerging life insurer in Malaysia. Backed by over 1,600 employees and a wide distribution network of more than 9,000 agents and partners, we are serving close to 2 million customers in Malaysia. Generali strives to further its ambition of being a trusted Lifetime Partner, and importantly enable people to shape a safer and more sustainable future by caring for their lives and dreams. From business to home and mobility to health, Generali Malaysia offers comprehensive protection solutions to bring genuine value to individuals, families and businesses.
Our strategy in Asia has been to grow our business in the markets where we are present, and Malaysia is certainly one of them. Our positive outlook is driven by the fact that the country is home to a large and growing middle-class population. In addition, government initiatives are underway to align Malaysia’s regulatory regime with those of the most advanced economies in the world, to introduce more equity to insurance pricing, evolve the country’s digital economy and expand insurance coverage to other sectors of the population.
Generali Asia N.V (“Generali”) and Affin Bank Berhad (“Affin”) has completed the share sale transaction of a majority stake in the AXA Affin joint ventures on 30th Aug 2022. The completion has made Generali the major stakeholder of AXA Affin joint ventures in Malaysia.
Concurrent with the above-mentioned exercise, Generali has also acquired the remaining interest in shares of MPI Generali Insurans Berhad (“MPI Gen”) from Multi-Purpose Capital Holdings Berhad (“MPHB”). Pursuant to the successful acquisition of interest in shares by Generali of both entities, MPI Gen’s business will be transferred to AXA Affin General Insurance Berhad and will be rebranded under the name, Generali Insurance Malaysia Berhad.
The General Insurance company will be a leader in the market’s general insurance product lines, offering comprehensive protection solutions for both Retail customers (notably Motor, Individual Accident & Health) and SME and Commercial clients (notably Property and Employee Benefits).
The Life insurance company is focused on serving Customers with a range of protection, medical, savings and legacy planning products. The future combined company and unified brand will form the second largest general insurer and an emerging life insurer in Malaysia.
A corporate brand campaign will be launched in early May 2023, followed by an extensive marketing plan. We will also leverage on our social channels to continuously build our brand.
There is no immediate change in the way our customers insure with us. Our customers can continue to call to their current customer service and 24-hour breakdown and assistance services. Please refer to www.generali.com.my/contact-us for contact information. Should there be any changes, we will ensure sufficient notice is given. We are committed to ensuring that our customers continue to receive they support and help they need.
We will continue to honour all contract and policies issued under the AXA and/or MPI Generali brand.The benefits, terms and conditions of the policy will remain, and customers do not need to request to re-issue their existing policy.
As part of our integration plan, we will be carrying out a product rationalisation process to streamline and harmonise similar products from both entities. This is to ensure that we will be able to better address our customers' ever changing needs.
Upon your renewal period, you will most likely be offered the same or similar products under the Generali brand. This is because of the product rationalization process that has been carried out to streamline highly similar products from both entities to better fit your protection needs.
There is no action required from you. We remain committed to supporting our new and existing customers across a full range of insurance products and services.
There would be no change to the existing payment methods. Our bank account will remain the same, but our bank account name will be changed from AXA to Generali Insurance Malaysia Berhad (formerly known as AXA Affin General Insurance Berhad), and Generali Life Insurance Malaysia Berhad (formerly known as AXA Affin Life Insurance Berhad) in stages. Please be assured that you can continue to make payment to the existing bank account number.
There would be no change to the existing payment methods. Please be assured that you can continue to make payment to the existing bank account number with the same bank account name.
There will be no change to our account number. Only our bank account name will be changed to Generali Insurance Malaysia Berhad in stages. Please be assured that you can continue to make payment to the existing bank account number. There would not be any impact on your existing standing instruction or auto debit.
The company registration number for Generali Insurance Malaysia Berhad is 197501002042 (23820-W) and service tax registration number is W10-1808-31015017. The company registration number for Generali Life Insurance Malaysia Berhad is 200601003992 (723739-W) and service tax registration number is W10-1809-32100142.
All our signboards and shops are scheduled to be updated with Generali brand in the upcoming months. In the meantime, please be assured that all our customers and partners will be able to enjoy uninterrupted services at our branches.
As part of the integration plan, we are going through a thorough review of all branches, to ensure they remain relevant to customer needs. Any decision to consolidate certain branches (typically where two branches are located within a short distance from each other) will be carried out with careful considerations to minimise disruption to our customers and agents.