Pacific Prime Strengthens Foothold in Malaysia with Acquisition of MIT Insurance
Pacific Prime is proud to announce the strategic acquisition of MIT Insurance, a leading insurance broker in Malaysia specializing in risk management, insurance, and reinsurance.
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MIT Insurance has specialized in property and casualty, financial lines, and employee benefits solutions for high-profile clients across various industries, earning them a reputation for developing customized insurance programs and arrangements.
This acquisition will have MIT Insurance Brokers operate as part of Pacific Prime Consultants Malaysia, a fully-licensed client service point that provides localized products as well as flexible benefits administration and servicing within the region.
MIT insurance staff will continue under the Pacific Prime brand with a shared goal of simplifying insurance for clients.
A statement from the CEO of Pacific Prime Consultants Malaysia, Cedric Deschamps:
“I am beyond excited about this development. Acquiring MIT Insurance Brokers will undoubtedly distinguish Pacific Prime from its competitors. Their current guiding principles—providing the most optimal solutions for their clients’ unique requirements—are in perfect alignment with our own. I am convinced that Pacific Prime’s global footprint, combined with MIT’s 50 years of expertise locally, will pave the way for the future—and here in Malaysia, we’re just getting started.”
Shahrizal Shahruddin, Director of MIT Insurance Brokers, stated:
“This acquisition happens at an opportune time for us to showcase what we’re capable of together. MIT Insurance Brokers has been in the market for over 50 years, and I hope we carry on this momentum. I look forward to seeing us deliver the best services to our clients in Malaysia, and most importantly, I’m delighted to be a part of Pacific Prime. Here’s to a wonderful year ahead for the insurance industry.”
This strategic acquisition creates a strong foothold for Pacific Prime for further growth in Malaysia. By leveraging MIT Insurance’s strong reputation and experience, Pacific Prime will be able to provide clients with optimized solutions for navigating the evolving challenges facing the insurance sector.
In regards to the acquisition, Pacific Prime CEO Neil Raymond stated:
“Malaysia is an exciting country for us to expand our operations. With the integration of MIT Insurance Brokers, we’ll bring together a team of established and experienced personnel to provide innovative and strategic solutions both within and outside of the region. This is of utmost importance in light of the numerous global regulatory and technological changes taking place.”
Pacific Prime’s acquisition of MIT Insurance marks the beginning of a new era for Pacific Prime’s presence in Malaysia.
As a global insurance broker with over two decades of experience, Pacific Prime can help you simplify your insurance process and offer professional insurance solutions, from individual health insurance to corporate health insurance and employee benefits.
Contact us today for a free plan comparison and an obligation-free quote!
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How can I ensure my existing insurance coverage from another country is recognized and integrated with local insurance providers in Malaysia? Are there any specific challenges expats face when transferring their insurance coverage?
To ensure your existing insurance coverage is recognized and integrated with local providers in Malaysia, it’s important to review whether your current policy includes international portability or regional coverage. Pacific Prime, through its acquisition of MIT Insurance, specializes in helping expats navigate this process by identifying gaps in coverage, ensuring compliance with local regulations, and facilitating direct billing agreements with Malaysian healthcare providers. Common challenges include differences in policy terms, network limitations, and exclusions, which can be addressed with expert guidance from a broker.
For personalized assistance in transferring or supplementing your insurance, reach out to us through the Pacific Prime contact page.
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