Subhendu Mukherjee, managing director of JWT Malaysia, said: "JWT Malaysia recently informed Great Eastern Malaysia that we can not handle their Islamic Insurance business because of a conflict with another client. However, our existing relationship with Great Eastern on other parts of the business continues. There has been no communciation on either side to the
It is understood that the pitch process for the insurance brand was initiated a few weeks back and the brand is close to appointing an agency.
A Great Eastern spokeswoman declined to comment on the news.
Great Eastern, which began its operations in 1908, is one of Malaysia's oldest insurance brands. The company was also certified by the Malaysia Book of Records in 1998 as the 'Oldest & Largest Life Insurer' in Malaysia.
As of 31 December, 2009, Great Eastern has assets in excess of US$11 billion. The company also has 2.8 million policies in force, 24 branch offices and a network of 17,000 agents nationwide.