Veteran reinsurer Anuar to chair AKPK

BNM taps MNRB veteran as chairman of its credit counselling and debt management agency

by HABHAJAN SINGH / pic credit: www.foeis.com

ANUAR Mohd Hassan, a veteran insurer who served more than three decades at Malaysian National Reinsurance Bhd (MNRB), has been appointed as chairman of Agensi Kaunseling & Pengurusan Kredit (AKPK).

The position fell vacant when Datuk Mohd Hanif Sher Mohamed retired as chairman and director of the Bank Negara Malaysia (BNM) unit in September 2017.

BNM had set up the credit counselling and debt management agency in April 2006 to help individuals take control of their financial situation and gain peace of mind that comes from the wise use of credit.

Anuar retired in March 2011 as the president and group CEO of MNRB after a 31-year stint, an investment holding company with subsidiaries involved in the reinsurance, takaful and retakaful businesses.

He was appointed MNRB’s president and group CEO in April 2008. Prior to that, he was the president/ CEO at MNRB’s wholly owned unit Malaysian Reinsurance Bhd.

Anuar brings to AKPK an extensive experience in insurance and finance acquired from his previous senior management roles in several prominent insurance companies, both local and international, according to an AKPK statement.

During his various leadership roles at MNRB, it began looking at alternate sources of revenue with the phased removal of the voluntary cession (VC) to the company — as then recommended in BNM’s Financial Sector Masterplan (2001-2010).

VC is described as an arrangement whereby all general insurers cede to the national reinsurer a predetermined percentage of their business over and above their own net retention up to the limits specified for the various classes of general insurance business.

Reinsurance is the transfer of all or part of an insurance risk that has been assumed by an insurer to another insurer in return for a premium.

In addition to several directorships held in insurance and takaful companies, Anuar was also a past director of International Centre for Leadership in Finance, Malaysian Oxygen Bhd and Financial Park Labuan Sdn Bhd.

In the past, he had also held the chairman position at various organisations including General Insurance Association of Malaysia, the Jakartabased Asean Insurance Council, the Istanbul-based FAIR Non Life Reinsurance Pool and the Bahrainbased FAIR Oil & Energy Insurance Syndicate.

AKPK’s management team is led by Azaddin Ngah Tasir as its CEO, assisted by Azman Hasim as its GM for the corporate services division and Nor Fazleen Zakaria as GM for the operations division.