The Life Insurance Association of Malaysia (LIAM) has re-elected Loh Guat Lan and Raymond Lew as its president and vice president, respectively, for the 2022/2023 term.
The re-appointments were made at LIAM’s recent annual general meeting. Ms Loh is group managing director and chief executive officer (CEO) of Hong Leong Assurance Bhd (HLA), while Mr Lew is CEO and president of Sun Life Malaysia Assurance Bhd.
LIAM also announced the appointment of a new management committee member – Khoo Ai Lin, CEO of Zurich Life Insurance Malaysia Berhad for the term 2022/2023.
The Association is also supported by six other committee members: Ben Ng, CEO of AIA Bhd; Paul Low Hong Ceong, CEO of Etiqa Life Insurance Berhad; YBhg Dato Koh Yaw Hui, CEO of Great Eastern Life Assurance (Malaysia) Berhad; Vibha Coburn, CEO of Manulife Insurance Berhad; Lim Eng Seong, CEO of Prudential Assurance Malaysia Berhad; and Toi See Jong, CEO of Tokio Marine Life Insurance Malaysia Bhd.
LIAM’s CEO Mark O’Dell said the association has, over the years, been consistently promoting the importance of life insurance protection to all Malaysians and raising the awareness of life insurance through its various engagement programmes and consumer education campaigns on various platforms, including social media.
O’Dell said, “We work very closely with Bank Negara Malaysia and other key stakeholders in fulfilling the industry’s agenda to improve financial literacy and financial well-being of Malaysians.
“Through our consumer education programmes, we highlight the virtues of life insurance and continue to educate the consumers on how the various types of life insurance policies can help meet their needs and play a crucial part of a sound financial planning.
“We also inculcate high standards of professionalism and integrity of our staff and agents through best practices to engender trust in the industry.”
The life insurance industry in Malaysia remains committed and focus in pursuing its financial inclusion agenda and the national aspiration in increasing the penetration rate and narrowing the protection gap, according to statement on LIAM’s website.