BBYB 2019

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90 Borneo Bulletin Yearbook 2019
Great Eastern Life Assurance
Incorporated in 1908, Great Eastern is the
largest life insurance group in Singapore and
Malaysia, and one of the leading insurance
firms in Asia. Latest figures show that the
company holds over SGD80 billion in assets
and services over four million policyholders.
The Group, which has operations in Brunei,
Indonesia and China as well as a representative
office in Myanmar, was named Life Insurance
Company of the Year by Asia Insurance Review
at the Asia Insurance Industry Awards in 2011
and 2013.
At present, it has three successful distribution
channels: a tied agency force, bancassurance,
and a financial advisory firm, Great Eastern
Financial Advisers. It has been designated
a financial strength and counterparty credit
rating of ‘AA-’ by Standard & Poor’s since 2010,
one of the highest among Asian life insurance
companies.
Having been in Brunei since 1975, Great
Eastern Life is the only foreign life company
that has acquired its very own office building,
a statement of its commitment in the country.
Backed by an integrated health and wellness
Live Great programme, which provides clients
access to benefits such as wellness tools,
mobile apps, health tips, workshops and
events as well as exclusive privileges, Great
Eastern goes beyond the traditional role of an
insurance company when it comes to helping
customers live healthier, better and longer.
National Insurance Company Berhad
National Insurance Company Berhad, incorporated
in 1969, is the market leader in general insurance
in Brunei.
In January 1998, Allianz Global Corporate &
Specialty AG, MSIG Holdings (Asia) Pte Ltd, and
Baiduri Holdings Berhad acquired partial ownership
of the company, a mark of confidence in National
Insurance and the Brunei economy, and a move to
consolidate the company’s competitive position in
the country and the region. The partnership paves
a path for the transfer of international insurance
expertise to Brunei, enabling the company to
explore new opportunities in the sector.
National Insurance cemented its status as the
country’s premier general insurance firm when it
attained ISO 9002 certification on April 15, 1996.
On May 22, 2017, it was re-certified with the
new ISO 9001:2015 standard, becoming the only
insurance company in Brunei and among the only
few in the region to have earnt this prestigious
certification.
The company is also active in the Brunei business
community, and is a member of BITA, the Brunei
Darussalam International Chamber of Commerce
and Industry, and the East Asia Insurance
Congress. National Insurance celebrates its 50th
Anniversary this year.
Standard Insurance Sdn Bhd
Another one of the leading general insurance
companies in Brunei, with a local presence since
1995, Standard Insurance offers a comprehensive
range of insurance and risk solutions for both
individuals and commercial entities.
Putting the best interests of customers at heart, it
seeks to provide top-quality financial protection at