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A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad

The after effects of Asian Currency Crisis were still lingering in the economies of South East Asia countries. The crisis begun in July 1997, however, the general insurance industry took the brunt of the economic downturn in 1998. The 1997 financial result for general insurance companies shown go...

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Main Author: Tang, Kwong Yin
Format: Project Paper Report
Language:English
English
Published: 1999
Subjects:
Perdana Cigna Insurance Berhad
Strategic planning - Case studies
Online Access:http://psasir.upm.edu.my/id/eprint/8126/1/GSM_1999_8_.pdf
http://psasir.upm.edu.my/id/eprint/8126/
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spelling my.upm.eprints.81262023-12-08T07:08:42Z http://psasir.upm.edu.my/id/eprint/8126/ A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad Tang, Kwong Yin The after effects of Asian Currency Crisis were still lingering in the economies of South East Asia countries. The crisis begun in July 1997, however, the general insurance industry took the brunt of the economic downturn in 1998. The 1997 financial result for general insurance companies shown good return and potential growth in gross and net written premium, and profit for the next financial year. Most general insurance companies including Perdana CIGNA Insurance Berhad h ad targeted major growth in 1998. The uncertain economic conditions dashed the company's hopes of producing the desired results. The general insurance market or premium size had shrunk considerable, especially, in motor insurance, as there are less new cars and devaluation of second hand car value. Other general insurance lines like fire was also affected as the value of properties were reduced, along with the fire insurance premium. The general insurance companies competed among each other to achieve growth and profitable, thus, reduction of premium occurred as too many insurers were fighting for business. Perdana CIGNA Insurance Berhad had a small portfolio of motor insurance, therefore, massive drop of turnover or net written premium did not occurred. However, losses i n claims were high and desirable growth was not achieved in 1998. Despite of the economic downturn, companies must reorganized and planned to take on new challenges or fight for survival as the most cost efficient and innovative company would be able to weather out the bad economic conditions. 1999 Project Paper Report NonPeerReviewed text en http://psasir.upm.edu.my/id/eprint/8126/1/GSM_1999_8_.pdf Tang, Kwong Yin (1999) A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad. [Project Paper Report] Perdana Cigna Insurance Berhad Strategic planning - Case studies English
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
English
topic Perdana Cigna Insurance Berhad
Strategic planning - Case studies
spellingShingle Perdana Cigna Insurance Berhad
Strategic planning - Case studies
Tang, Kwong Yin
A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
description The after effects of Asian Currency Crisis were still lingering in the economies of South East Asia countries. The crisis begun in July 1997, however, the general insurance industry took the brunt of the economic downturn in 1998. The 1997 financial result for general insurance companies shown good return and potential growth in gross and net written premium, and profit for the next financial year. Most general insurance companies including Perdana CIGNA Insurance Berhad h ad targeted major growth in 1998. The uncertain economic conditions dashed the company's hopes of producing the desired results. The general insurance market or premium size had shrunk considerable, especially, in motor insurance, as there are less new cars and devaluation of second hand car value. Other general insurance lines like fire was also affected as the value of properties were reduced, along with the fire insurance premium. The general insurance companies competed among each other to achieve growth and profitable, thus, reduction of premium occurred as too many insurers were fighting for business. Perdana CIGNA Insurance Berhad had a small portfolio of motor insurance, therefore, massive drop of turnover or net written premium did not occurred. However, losses i n claims were high and desirable growth was not achieved in 1998. Despite of the economic downturn, companies must reorganized and planned to take on new challenges or fight for survival as the most cost efficient and innovative company would be able to weather out the bad economic conditions.
format Project Paper Report
author Tang, Kwong Yin
author_facet Tang, Kwong Yin
author_sort Tang, Kwong Yin
title A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
title_short A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
title_full A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
title_fullStr A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
title_full_unstemmed A Case Study of Strategic Planning for Perdana Cigna Insurance Berhad
title_sort case study of strategic planning for perdana cigna insurance berhad
publishDate 1999
url http://psasir.upm.edu.my/id/eprint/8126/1/GSM_1999_8_.pdf
http://psasir.upm.edu.my/id/eprint/8126/
_version_ 1787137164299993088
score 13.211869

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