AIA Macau registers more policy terminations

Friday, September 19, 2008
Issue 471, Page 6
Word count: 171
Published in: Macau Daily Times

By Poyi (Natalie) Leung

The executive of AIA Macau admitted yesterday that more of their clients have come to terminate their insurance policies this week, but added that it was a “normal response”.

However, general manager of the local branch, Chris Ma, whom the Macau Daily Times was told would be able to answer media inquiries after a meeting in Hong Kong yesterday, still could not be reached.

When contacting operations manager Alexandra Foo yesterday, she told the MDTimes there was an increase in the number of clients coming to inquire about AIA Macau’s current financial conditions and to withdraw their insurance policies.

But she added that on normal days the company would also receive policy termination requests and the recent increase in cases was an “ordinary response” after the financial crisis the parent company AIG was facing.

Ms Foo was not able to provide the figures of how much the cancelled insurance policies were worth, but said AIA Macau had about 110,000 to 120,000 policies issued in the region which were mainly life insurance.

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