Byline: Rupinder Singh
GENERAL insurer Kurnia Asia Bhd plans to scale down its expense ratio to 15 per cent in three years to cut down cost of doing business and stay competitive in anticipation of a liberalised market, says its top executive.
The move also ensures that the group has the ability to pay claims to its policyholders even when there is a slowdown in new business growth.
Kurnia Insurans (M) Bhd chief executive officer and managing director Captain K.H. Chia said the group is confident of hitting the 15 per cent target in or less than three years from now.
Kurnia Insurans accounts for nearly 95 per cent of Kurnia Asia's annual revenue. …