{"id":43,"date":"2015-05-21T11:00:31","date_gmt":"2015-05-21T11:00:31","guid":{"rendered":"https:\/\/www.tuneprotect.com\/my\/?page_id=43"},"modified":"2020-08-17T12:49:53","modified_gmt":"2020-08-17T04:49:53","slug":"business","status":"publish","type":"page","link":"https:\/\/www.tuneprotect.com\/my\/corporate\/group\/business\/","title":{"rendered":"Business"},"content":{"rendered":"Tune Protect currently underwrites 50 markets including Malaysia and its neighbouring countries. These are where we run our two core businesses \u2013 one sells online insurance direct to customers while the other operates a general insurance business locally through our subsidiary, Tune Insurance Malaysia Berhad (TIMB) and also in Thailand with our associate, Tune Insurance Public Co. Ltd (TIPCL). \r\n<br><br>\r\n<div id=\"business-info\" class=\"panel-group\">\r\n    <!-- <div class=\"panel\">\r\n        <div id=\"business-info-heading-1\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a href=\"#business-info-1\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE GENRE LTD - TGR (Company No.: LL08072) - NON-LIFE REINSURANCE<\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-1\" class=\"panel-collapse collapse in\">\r\n            <div class=\"panel-body\">\r\n                <h4>History and Business<\/h4>\r\n                TGR (formerly known as Tune Money GenRe Ltd, TMGR) was incorporated on 10 February 2011 in the Federal Territory of Labuan, Malaysia as a company limited by shares under the Labuan Companies Act, 1990 and began its operations in the same year. TMGR is\r\n                licensed to carry on Labuan general reinsurance business in, from or through Labuan. TGR is our wholly-owned subsidiary company and its Directors are Sasitharan A\/L Krishnan and Su Tieng Teck.\r\n                <h4>Share Capital<\/h4>\r\n                TGR does not have an authorised share capital. The issued and paid-up capital of TGR is USD3,207,288.00 comprising of 3,207,288 ordinary shares.\r\n                <h4>Business Focus<\/h4>\r\n                TPR does non-life reinsurance business namely accident and health risk derived from travel insurance policies underwritten for the customers of AirAsia, Tune Hotel and Expedia. TGR reinsures Travel PA acquired via the online business channel. With respect\r\n                to policies reinsured with TGR, we obtain retrocessional coverage with other rated reinsurers and cede to such insurers a portion of the risk we have assumed. The retrocessionaires we obtain coverage from are Lloyd's market syndicate members\r\n                with a minimum rating \"A\" by Standard &amp; Poor's.<\/div>\r\n        <\/div>\r\n    <\/div> -->\r\n    <div class=\"panel\">\r\n        <div id=\"business-info-heading-2\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a class=\"collapsed\" href=\"#business-info-2\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE INSURANCE MALAYSIA BHD (TIMB) <i>(Company No:197601004719 (30686-K))<\/i><\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-2\" class=\"panel-collapse collapse out\">\r\n            <div class=\"panel-body\">We underwrite our general insurance business, currently only in Malaysia, through our 83.26%-owned subsidiary, Tune Insurance Malaysia Berhad (TIMB).\r\n            <br\/><a href=\"http:\/\/www.tuneprotect.com\/malaysia\">Read More<\/a><\/div>\r\n            <!-- <div class=\"panel-body\">Tune Insurance Malaysia Berhad, or TIMB, (formally known as Oriental Capital Assurance Berhad) is a licensed insurer under the Insurance Act 1996. We have a geographically diverse presence in Malaysia with 16 branches nationwide while our\r\n                Head Office is strategically located at Wisma Tune at Damansara Heights, Kuala Lumpur. TIMB provides a comprehensive range of general insurance solutions through multiple distribution channels to balance the needs of different consumer\r\n                groups. In this regard we are supported by a loyal pool of dedicated agents, brokers and direct clients to underwrite various general insurance classes such as Fire, Foreign Workers Compensation Scheme, Foreign Workers Insurance Guarantee\r\n                Scheme, Foreign Worker Hospitalization &amp; Surgical Scheme, Medical Health &amp; Dental, Contractor's All Risks, Workmen's Compensation, Motor, Engineering, Marine Hull, Marine Cargo, Professional Indemnity, Travel, Personal Accident\r\n                and other Miscellaneous classes. Tune Insurance Malaysia Berhad (TIMB) was incorporated in Malaysia on 27 December 1976 as a private limited company under the Act as United Oriental Assurance Sdn Bhd and began its operations in 1977. It\r\n                was converted to a public limited company on 1 August 1997 and assumed the name United Oriental Assurance Berhad. On 31 January 2003, it changed its name to Oriental Capital Assurance Berhad after a merger exercise with Capital Insurance\r\n                Berhad. A new chapter unfolded in May 2012 when Tune Group through its wholly owned subsidiary, Tune Ins Holdings Berhad, acquired controlling interest in the company. Tune Group founders are Malaysian corporate personalities Tan Sri Tony\r\n                Fernandes and Dato' Kamarudin Meranun. Subsequently on 21 September 2012, the company changed to its current name, Tune Insurance Malaysia Berhad. With our 83.26% owned subsidiary, we currently underwrite our general insurance business.<\/div> -->\r\n        <\/div>\r\n    <\/div>\r\n    <!--<div class=\"panel\">\r\n        <div id=\"business-info-heading-3\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a class=\"collapsed\" href=\"#business-info-3\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE LIFERE LTD (TLR) (Company No: LL08176)<\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-3\" class=\"panel-collapse collapse out\">\r\n            <div class=\"panel-body\">Incorporated on 6 April 2011 in the Federal Territory of Labuan, Malaysia as a company limited by shares under the Labuan Companies Act, 1990. TLR is our wholly-owned subsidiary company that is licensed to carry on life reinsurance business in, from, or through Labuan.\r\n                <h4>SHARE CAPITAL<\/h4>\r\n                TLR\u2019s does not have an authorised share capital. The issued and paid-up capital of TLR is USD3,207,288.00 comprising 3,207,288 ordinary shares.\r\n                <!-- <h4>BUSINESS FOCUS<\/h4>\r\n                TLR does life reinsurance business namely term life insurance products with accident and health medical riders sold via direct marketing channel to AirAsia and Tune Hotel customers under the marketing name of AA Lifestyle Protection Plan and Tune Hotels\r\n                Lifestyle Protection Plan respectively. For both AA &amp; Tune Hotel Lifestyle Protection Plan, our local life insurance partner will cede a portion of its underwriting risk to RGA Global, our fronting Life Reinsurance partner. RGA Global,\r\n                in turn, will cede its risk to TLR under an established mod-co reinsurance arrangement. The costs of marketing incurred by our local life insurance partners are managed via the established mod-co-reinsurance arrangement between our local\r\n                life insurance partners, RGA Global and TLR. \r\n            <\/div>\r\n        <\/div>\r\n    <\/div>-->\r\n    <div class=\"panel\">\r\n        <div id=\"business-info-heading-4\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a class=\"collapsed\" href=\"#business-info-4\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE PROTECT RE LTD (TPR) (Company No: LL08072)<\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-4\" class=\"panel-collapse collapse out\">\r\n            <div class=\"panel-body\">Incorporated on 10 February 2011 in the Federal Territory of Labuan, is a company limited by shares under the Labuan Companies Act, 1990. TPR is our wholly-owned subsidiary company.\r\n                <h4>SHARE CAPITAL<\/h4>\r\n                TPR does not have an authorised share capital. The issued and paid-up capital of TPR is USD3,207,288.00 comprising of 3,207,288 ordinary shares.\r\n                <h4>BUSINESS FOCUS<\/h4>\r\n                TPR does non-life reinsurance business namely accident and health risk derived from travel insurance policies underwritten for the customers of AirAsia, Cebu Pacific, Air Arabia and others. TPR reinsures Travel PA acquired via the online business channel. With respect to policies reinsured with TPR, we obtain retrocessional coverage with other rated reinsurers and cede to such insurers a portion of the risk we have assumed. The retrocessionaires we obtain coverage from are Lloyd's market syndicate members with a minimum rating \"A\" by Standard & Poor's.\r\n<br><a href=\"https:\/\/www.tuneprotect.com\/my\/corporate\/group\/about-us-tune-protect-re-ltd\/\" target=\"_blank\">Read More<\/a><\/br>\r\n<\/div>\r\n        <\/div>\r\n    <\/div>\r\n\r\n    <!--<div class=\"panel\">\r\n        <div id=\"business-info-heading-5\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a class=\"collapsed\" href=\"#business-info-5\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE INSURANCE (LABUAN) LTD (TIL) (Company No: LL06997)<\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-5\" class=\"panel-collapse collapse out\">\r\n            <div class=\"panel-body\">Incorporated on 27 March 2009 in the Federal Territory of Labuan, is a company limited by shares under the Offshore Companies Act, 1990. TIL is licensed to operate as an offshore captive insurer in Labuan.\r\n                <h4>SHARE CAPITAL<\/h4>\r\n                TIL does not have an authorised share capital. The issued and paid-up capital of TIL is USD143,000.00 comprising of 143,000 ordinary shares.\r\n               <h4>BUSINESS FOCUS<\/h4>\r\n                TIL is licensed to operate as an offshore captive insurer in Labuan. TIL was established as a 80:20 joint venture between TMSB and Multi-Purpose Capital Holdings Berhad with the primary purpose of reinsuring general insurance underwritten by Multi-Purpose\r\n                Insurans Bhd, a wholly-owned subsidiary of Multi-Purpose Capital Holdings Berhad. With the incorporation of TMGR as a direct subsidiary of TIH, businesses previously conducted through TIL is now channelled to TMGR. \r\n                <\/div>\r\n        <\/div>\r\n    <\/div> -->\r\n\r\n    <div class=\"panel\">\r\n        <div id=\"business-info-heading-6\" class=\"panel-heading\">\r\n            <h4 class=\"panel-title\">\r\n                <a class=\"collapsed\" href=\"#business-info-6\" data-toggle=\"collapse\" data-parent=\"#business-info\"> <i class=\"fa toggle-icon pull-right\"><\/i>TUNE DIRECT LTD (TDL) (Company No: LL09836)<\/a>\r\n            <\/h4>\r\n        <\/div>\r\n        <div id=\"business-info-6\" class=\"panel-collapse collapse out\">\r\n            <div class=\"panel-body\">Incorporated on 26 July 2013 in the Federal Territory of Labuan, is a company limited by shares under the Labuan Companies Act, 1990. The principal activities of TDL are investment holding and manager of the online distribution platform. The commencement of such activities is subject to regulatory consent.\r\n                <h4>SHARE CAPITAL<\/h4>\r\n                The issued and paid-up share capital of TDL is USD2 comprising 2 ordinary shares of USD1 each.\r\n                <!-- <h4>BUSINESS FOCUS<\/h4>\r\n                Have not commenced operations. -->\r\n            <\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\r\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":15,"featured_media":0,"parent":825,"menu_order":2,"comment_status":"open","ping_status":"open","template":"fullwidth-template-left.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/pages\/43"}],"collection":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/comments?post=43"}],"version-history":[{"count":29,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/pages\/43\/revisions"}],"predecessor-version":[{"id":6306,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/pages\/43\/revisions\/6306"}],"up":[{"embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/pages\/825"}],"wp:attachment":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/media?parent=43"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}