PanGlobal Insurance Berhad (PGI)

From its modest inception in 1970, PanGlobal Insurance Berhad is today a RM100 million paid-up capital general insurance. As the leading niche player in sports insurance, PanGlobal Insurance is the official sponsor for the Arrows F1 Team in 1999, Asian Festival of Speed in 1999 & 2000, National Geographic Action Asia Challenge in 2001 and the KL Minardi F1 Team in 2002. The Company has also been a Charter Member of SPORTEXCEL, the country¡¯s junior sports development program, since 2001. It has pioneered and led the field with many new and innovative insurance products like X-treme Lifestyle, MaxPax and EZI Payment to complement the traditional general insurance market.

For the year ended 31 December 2001. PanGlobal Insurance, under a new management team, achieved a spectacular turnaround from a RM11 million loss before tax in 2000 to a RM25 million profit before tax in 2001. It¡¯s solvency as at 1 January 2002 stands at more than RM65 million surplus, putting it in a comfortable position to meet Bank Negara Malaysia¡¯s next proposed increase in paid-up capital of RM50 million.

On 1 April 2002, PanGlobal Insurance set a significant milestone in the Malaysian general insurance industry by launching a product that, for the first time, allows consumers to pay for their motor and other general insurance premiums by zero interest instalments via credit card.

With its headquarters in Kuala Lumpur, PGI has established a network of 10 offices and service centers strategically located in throughout Malaysia to serve its policy holders and business associates more efficiently and effectively.

At the same time, it also launched one of the first customer privileges program in the industry that provides a host of value added privileges including 24 hours/365 days auto assist and customer services; 10 days claim approval; exclusive events, contests and education programs; and even the opportunity to win a trip to an F1 Grand Prix abroad. With a host of exciting innovations coming on-stream over this year, including Voice-Over-Internet-Protocol (VOIP) offering to customers, presence on electronic television, etc, PanGlobal Insurance will be working hard to set new benchmarks and industry standards.

To ensure its long-term success, PanGlobal Insurance is aggressively preparing over the next 2-3 years to become an anchor insurer by focusing on the following :

• Strategic International Alliances to strengthen our operations and broaden our scope

• Portfolio Diversification to expand our non-motor portfolio so that we can generate even better results in future years

• Source Income Diversification to enhance other sources of income, such as, direct business, brokers and financial institutions

• Technology to fully maximise office automation and further improve efficiency

• Manpower Development to continually offer career development opportunities to our staff so that we can retain and attract good talent

• Customer Service to place greater emphasis on ensuring sound professional advice and speedy settlement of claims

PGI stands geared to meet the challenging needs of our clientele, to compete effectively and to stay ahead of the competition.

For more information on PanGlobal Insurance Berhad, please log on http://www.pgi.com.my