P ontents
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President’s Message Members of the Management Committee 2009 – 2010

Management Committee 2009 – 2010

Committees and Working Committees 2009 – 2010

Report of the Management Committee

Performance of the Life Insurance Industry

Members of LIAM

Life Insurance Association of Malaysia
No. 4, Lorong Medan Tuanku Satu, Medan Tuanku, 50300 Kuala Lumpur Tel: 03-2691 6168, 2691 6628, 2691 8068 Fax: 03-2691 7978 Website: www.liam.org.my E-mail: liaminfo@liam.org.my


resident’s Message

Taking over as President of the Life Insurance Association of Malaysia (LIAM) in March 2009, I prepared myself for the expected challenging tasks ahead. All my predecessors, as LIAM Presidents, had set remarkably high standards during their terms of office. Their numerous contributions to the insurance industry were indeed matchless. The operating environment of the life insurance industry has been subject to significant changes due to new regulations which are moving towards greater transparency and consumer protection. The Association has been kept busy with meetings and dialogues with regulators as well as consolidating the response from the industry on possible impact to consumers, intermediaries and stakeholders. Despite these challenging conditions, I am pleased to report that the Malaysian life insurance industry has weathered through these difficult times, accomplishing many of the objectives identified for the year.

These achievements would not have been possible without the support and confidence from my fellow Chief Executive Officers. Their strong team spirit and wise counsel have provided invaluable guidance in helping me to chart the strategic direction of LIAM. It is now my privilege to report on the key developments and activities of the life insurance industry in 2009.

Risk-Based Capital Framework
The Risk-Based Capital (RBC) framework came into effect on 1 January 2009 after two years of parallel run with the previous solvency regime. The new capital requirement provides greater flexibility for insurers to operate at different capital adequacy levels that commensurate with their risk profiles. A new set of valuation rules was also introduced to ensure that assets and liabilities are valued in a realistic and marketconsistent manner.

Life Insurance Association of Malaysia


In March 2009, Bank Negara Malaysia (BNM) introduced temporary flexibility for life insurers to base the discount rate used in RBC on weighted basis to moderate the impact of fluctuating interest rates.

Guidelines on Bancassurance
The Guidelines on Bancassurance was further revised in April 2009 in-line with the liberalization of the financial services sector. Insurers were allowed to enter into bancassurance arrangements with any number of bancassurance partners. Previously, foreign insurance companies were only allowed to tie up with one local bank. To further enhance bancassurance as an alternative distribution channel, the compensation package was revised to include an additional 5% production bonus and 10% persistency bonus. Disclosure of commission, which was introduced for the bancassurance channel in 2004, continued to be reinforced under the revised Guidelines. As at 31 December 2009, a total of 8,081 financial institution employees representing 17 financial institutions were registered with LIAM as personnel who sell insurance under bancassurance arrangements.

interests of consumers must be emphasized in the development, marketing and sale of new products. To ensure that all life insurers subscribe to a minimum standard for the TCF requirement, LIAM engaged an actuarial consulting firm in December 2009 to develop a best practice framework for the industry. The framework would specify the necessary information to be provided to the customers during the sales process, after- sales and during the policy exit process. This would include minimum standards of disclosures in the form of relevant, timely, reliable, consistent and comparable information.

Budget 2010
a) Micro-Insurance In the Budget 2010, the Government unveiled the plan to introduce a micro insurance scheme aimed at assisting low income small business owners in securing financial protection. It was announced that for a premium of RM20 per month, coverage of between RM10,000 and RM20,000 could be granted. This was a positive move as insurance protection could be extended to a large majority of the population. LIAM had prepared a preliminary proposal for the micro insurance scheme to be packaged with micro-financing offered by the banks. The proposal would be discussed with various stakeholders who include BNM, Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Association (MTA). b) Tax Relief for Annuity Plans The Government had also increased the tax relief for EPF contribution and life insurance premiums from RM6,000 to RM7,000. This additional RM1,000 was granted for annuity premiums of plans offered by insurance companies. This incentive was most appropriate to support the development of retirement schemes by life insurance companies. Demographically, by the year 2020, Malaysia would have close to 10% of its population aged above 60 years. It is

Development of “Treat Customers Fairly (TCF)” Framework
With effect from 1 July 2009, BNM liberalized the rules on product approval and waived the requirement of a 30-day filing in advance with BNM. Under the new Guidelines on Introduction of New Products for Insurance Companies and Takaful Products, insurers are now allowed to launch products without having to obtain BNM’s prior approval. However, the board and senior management would now be entrusted with greater responsibility to ensure that product risks are well managed and customers’ rights are respected. Insurers are expected to develop a “Treat Your Customers Fairly (TCF)” policy where the


Life Insurance Association of Malaysia

The key drivers that will map out the blueprint of the industry from 2010 to 2015 are: • To increase the percentage of insured population. • To promote consumer awareness via media publications. LIAM would pursue with the on-going dialogues with regulators in promoting retirement planning to cater to the needs of the ageing population. the commission for each of the policy years has been fixed across all companies. LIAM has also put forward a proposal to BNM to liberalise the current limits on operating cost control. a series of brainstorming sessions were organized from December 2008 to chart the growth and development of the life insurance industry. to continue enjoying a comfortable lifestyle in their golden years. In line with the new operating environment. LIAM will continue its efforts to raise the professionalism of the life insurance industry and increase the percentage of insured population. Future initiatives would include lobbying for the removal of income tax on the investment income of the annuity funds and increasing the amount of tax relief from RM1. • To increase the level of transparency and disclosure to consumers by establishing a best practice framework on treating customers fairly. Life Insurance Association of Malaysia 4 ANNUAL REPORT 2009 . career opportunities and awareness talks.crucial to encourage Malaysians to start their financial planning early. With the move for commission disclosure. Guidelines on Product Transparency and Disclosure Under a liberalized operating environment. • To foster a closer working relationship with regulators and consumer bodies to improve consumers’ understanding and appreciation of life insurance and its benefits. • To further strengthen the influence of LIAM in the consultative process with regulators with the view to establishing a conducive business environment. a more liberalized framework will further encourage competition and improvements in products and services. After a series of consultations with BNM. Full commission disclosure would be introduced for investment-linked insurance with effect from April 2010 while commission disclosure for traditional products is planned to take effect in June 2011. • To strengthen the self-regulatory functions of the Association through a review of internal structure and processes. education programmes. Over the next few years. there would be a greater need for transparency and disclosure.000 to a higher level. Information would now be presented in a standard product disclosure sheet to enable consumers to make comparison with the different types of products and minimize any form of mis-selling by intermediaries. Strategy Planning Meeting As an association which has been empowered to chart the direction of the life insurance industry. A continuous engagement process would be initiated with the regulators to develop a conducive business environment which would facilitate the life insurance industry to be a key player in the financial services sector. the Guidelines on Product Transparency and Disclosure came into effect on 1 January 2010. • To raise the professionalism of life insurance intermediaries by increasing the training requirements and production standards for promotion and maintenance of agency contracts. Under the current compensation package. LIAM needs to constantly review its strategic plans to remain vibrant and dynamic. Towards this end. The requirements were geared towards promoting consumer awareness and understanding of the various financial products and services.

Ministry of Health. the Disciplinary Committee (DC) would be empowered to investigate. in consultation with BNM are forming a Joint Insurance and Takaful Council (JITC). Employees Provident Fund and other government bodies for the guidance. I would like to take this opportunity to thank all LIAM members for the support and trust in me to lead the Association. my appreciation to the Secretariat staff for their hard work and dedication in carrying out their duties to ensure the smooth operations of the Secretariat. knowledge. LIAM Disciplinary Procedures In an effort to improve our current self-regulatory efforts. Prior to this review. we are certain more challenges are forthcoming as we embark on LIAM’s 2010 – 2015 Strategic Plan. Acknowledgement Having just concluded another hectic year. demonstrated a unified spirit in responding to the A(H1N1) calamity that hit Malaysia in 2009. PIAM and MTA. To maintain the impartiality of the DC. The scope of JITC includes promoting consistency in rules. To ensure that the JITC is accorded with the highest level of independence. Last but not least. advice and cooperation given to LIAM. In responding to a need for harmonization of regulations and enhanced market discipline. Under this review. two from each association and three independent members nominated by the respective associations. I would also like to thank my fellow colleagues and counterparts on the Management Committee and the various Working Committees for the valuable contribution in terms of time. BNM will continue with its liberalization efforts of the insurance and takaful industry. The continuous support and cooperation from our Members is highly appreciated. the appointment of the Chairman would be based on a rotation basis. the Association has undertaken a review of the disciplinary procedures outlined in the Constitution. Treasury. Ministry of Finance. LIAM. a complaint lodged with LIAM would have to go through many levels via the Committee of Inquiry and Management Committee before a final decision is made. LIAM Responds to Influenza A(H1N1) I wish to express my gratitude to all the 18 member companies of LIAM who have Md Adnan Md Zain President ANNUAL REPORT 2009 Life Insurance Association of Malaysia 5 . all our Members have agreed to waive this condition in processing their claims. expertise and experience that have helped LIAM to implement many of its activities and to fulfill its obligations successfully. the Chairman of the JITC would be appointed from amongst the independent members. hold an inquiry and to decide on the disciplinary action in the case of a breach of the Association’s guidelines. we issued a press statement to confirm that all life insurance companies would honour all medical and hospitalization claims arising from A(H1N1). I also wish to place on record my appreciation to the offices of BNM. Even though a majority of the medical plans contain exclusions on communicable diseases requiring quarantine. regulations and guidelines of the three sectors and resolving inter sector complaints or disputes amicably. In this regard.Joint Insurance-Takaful Council With the move to a principle-based regime. The JITC would comprise nine members. In August 2009.

Walaupun menghadapi keadaan yang mencabar. Rangka Kerja Modal Berasaskan Risiko Rangka Kerja Modal Berasaskan Risiko (RBC) berkuatkuasa pada 1 Januari 2009 selepas dua tahun dilaksanakan secara selari dengan Life Insurance Association of Malaysia 6 ANNUAL REPORT 2009 . saya bangga melaporkan industri hayat tempatan berjaya mengharungi kesukaran ini dan telah mencapai objektif tahunan yang telah ditetapkan. Operasi industri insurans hayat telah mengalami perubahan besar berikutan peraturan baru yang diperkenalkan untuk memberikan tahap ketelusan dan perlindungan yang lebih tinggi kepada pengguna. pakej pampasan telah disemak semula untuk menyediakan bonus prestasi 5% dan bonus ketegaran polisi 10%. Selepas mengambil alih jawatan Presiden Persatuan Insurans Hayat Malaysia (LIAM) pada bulan Mac 2009. sejumlah 8. Garis Panduan Bankasurans Garis Panduan mengenai Bankasurans disemak semula pada April 2009. Sebelum ini. sejajar dengan liberalisasi sektor kewangan. Penanggung Insurans dibenarkan untuk membuat pengaturan bankasurans dengan seberapa banyak rakan niaga bankasurans. Kejayaan ini tidak mungkin dicapai tanpa sokongan dan keyakinan daripada Ketua Pegawai Eksekutif ahli-ahli LIAM. syarikat insurans asing hanya dibenarkan bekerjasama dengan satu bank tempatan. Pendedahan komisen. Pada 31 Disember 2009. yang mewakili 17 institusi kewangan. Untuk menambah baik bankasurans sebagai saluran pengedaran alternatif. Presiden-presiden LIAM terdahulu. telah berdaftar dengan LIAM sebagai kakitangan yang menjual insurans di bawah pengaturan bankasurans. BNM memberikan kelonggaran sementara kepada syarikat insurans hayat untuk menetapkan kadar faedah yang digunakan dalam RBC secara wajaran untuk mengurangkan kesan kadar faedah yang turun naik. LIAM telah mengadakan mesyuarat dan dialog dengan pihak berkuasa dan memberikan pandangan industri tentang kesan yang mungkin dihadapi oleh pengguna. terus diperkukuh di bawah Garis Panduan yang disemak. telah menetapkan piawaian yang sangat tinggi sepanjang tempoh mereka memegang jawatan. Sumbangan besar mereka kepada industri insurans ternyata sukar ditandingi.P erutusan Presiden kaedah kesolvenan terdahulu. Satu set peraturan penilaian baru juga diperkenalkan untuk memastikan bahawa aset dan liabiliti dinilai secara realistik dan konsisten dengan pasaran. Semangat berpasukan yang kukuh dan nasihat berharga mereka telah saya jadikan panduan yang berguna dalam membantu saya menetapkan hala tuju strategik LIAM. Keperluan modal baru ini memberikan tahap fleksibiliti lebih tinggi kepada penanggung insurans untuk beroperasi pada tahap kecukupan modal berbeza. yang sesuai dengan profil risiko mereka. yang diperkenalkan bagi saluran bankasurans pada 2004.081 kakitangan institusi kewangan. pengantara dan pihak berkepentingan. Saya berbesar hati untuk melaporkan perkembangan dan kegiatan penting industri insurans hayat pada 2009. Pada Mac 2009. saya telah mempersiapkan diri untuk memikul tugastugas yang mencabar.

ANNUAL REPORT 2009 Life Insurance Association of Malaysia 7 .Pelaksanaan Rangka Kerja “Layan Pelanggan Dengan Adil (TCF)” Berkuatkuasa 1 Julai 2009. supaya mereka dapat menikmati gaya hidup yang selesa pada usia emas kelak. Tambahan RM1. Insentif ini amat sesuai untuk menyokong perkembangan skim persaraan oleh syarikat insurans hayat. Inisiatif masa depan yang bakal dilaksanakan termasuk melobi bagi memansuhkan cukai pendapatan ke atas pendapatan pelaburan dana anuiti dan meningkatkan jumlah pelepasan cukai daripada RM1. Bajet 2010 a) Insurans Mikro Dalam Bajet 2010. b) Pelepasan Cukai bagi Pelan Anuiti Kerajaan juga telah meningkatkan pelepasan cukai bagi caruman KWSP dan premium insurans hayat daripada RM6. BNM telah meliberalisasikan peraturan mengenai kelulusan produk dan mengenepikan syarat untuk memfailkan produk dengan BNM 30 hari sebelum produk diperkenalkan. pemasaran dan penjualan produk baru.000 boleh diberikan.000 kepada RM7. Rakyat Malaysia harus digalakkan untuk merancang kewangan mereka sejak dari awal lagi. LIAM melantik sebuah firma perunding aktuari pada Disember 2009 untuk menyusun rangka kerja amalan terbaik bagi industri. Penanggung insurans dikehendaki menggubal dasar ”Layan Pelanggan Anda Dengan Adil (TCF)” di mana kepentingan pengguna mesti diutamakan dalam pembangunan. LIAM telah menyediakan cadangan awal bagi skim insurans mikro untuk digabungkan dengan tawaran pembiayaan mikro oleh bank. kerajaan telah mengumumkan rancangan untuk memperkenalkan skim insurans mikro yang bertujuan membantu pemilik perniagaan berpendapatan rendah untuk mendapatkan perlindungan kewangan. tepat pada masanya. selepas jualan dan semasa polisi tamat. perlindungan antara RM10. konsisten dan boleh dibandingkan. Kerajaan mengumumkan bahawa dengan premium hanya RM20 sebulan. boleh dipercayai. Rangka kerja ini akan mengkhususkan maklumat yang perlu diberikan kepada pelanggan sepanjang proses jualan. Cadangan tersebut akan dibincangkan oleh pelbagai pihak berkepentingan termasuk BNM.000 ini diberikan untuk premium pelan anuiti yang ditawarkan oleh syarikat insurans.000. Bagaimanapun. lembaga pengarah dan pengurusan kanan kini diamanahkan dengan tanggungjawab yang lebih besar untuk memastikan risiko produk diuruskan dengan baik dan hak pelanggan dihormati. Garis Panduan Ketelusan dan Pendedahan Produk Dalam persekitaran operasi yang lebih liberal. tahap ketelusan dan pendedahan yang lebih tinggi diperlukan.000 kepada kadar yang lebih tinggi. Persatuan Insurans Am Malaysia (PIAM) dan Persatuan Takaful Malaysia (MTA). Garis Panduan Ketelusan dan Pendedahan Produk mula berkuatkuasa pada 1 Januari 2010. Di bawah Garis Panduan Pengenalan Produk Baru bagi Syarikat Insurans dan Produk Takaful yang terkini.000 hingga RM20. Ini termasuk tahap pendedahan minimum dalam bentuk maklumat yang berkaitan. Langkah positif ini membolehkan perlindungan insurans dilanjutkan kepada sebahagian besar masyarakat. hampir 10% daripada penduduk Malaysia akan berusia 60 tahun ke atas menjelang 2020. LIAM akan terus berdialog dengan pihak berkuasa untuk menggalakkan perancangan persaraan bagi memenuhi keperluan penduduk yang semakin lanjut usia. Untuk memastikan bahawa semua penanggung insurans memenuhi piawaian TCF minimum. syarikat insurans kini dibenarkan melancarkan produk tanpa mendapatkan kelulusan BNM terlebih dahulu. Selepas satu siri rundingan dengan BNM. Dari sudut demografi.

BNM akan meneruskan usaha liberalisasi industri insurans dan takaful. • Meningkatkan tahap ketelusan dan pendedahan kepada pengguna dengan menyediakan rangka kerja amalan terbaik untuk melayan pelanggan dengan adil. peluang kerjaya dan ceramah kesedaran. Dengan langkah pendedahan komisen. satu siri mesyuarat telah diadakan bermula Disember 2008 untuk merangka pertumbuhan dan perkembangan industri insurans hayat. Di bawah pakej pampasan semasa. PIAM dan MTA. undang-undang dan garis panduan ketiga-tiga sektor dan menyelesaikan aduan Life Insurance Association of Malaysia 8 ANNUAL REPORT 2009 . akan menubuhkan sebuah Majlis Bersama Insurans dan Takaful (JITC). • Meningkatkan tahap profesionalisme pengantara insurans hayat dengan menaikkan tahap keperluan latihan dan piawaian pengeluaran untuk kenaikan pangkat dan penyenggaraan kontrak agensi • Menjalin hubungan kerja yang lebih erat dengan pihak berkuasa dan persatuan pengguna untuk meningkatkan kefahaman dan penghargaan pengguna terhadap insurans hayat dan manfaatnya. • Mengukuhkan lagi pengaruh LIAM dalam proses rundingan dengan pihak berkuasa dengan matlamat untuk mewujudkan suasana perniagaan yang sesuai. LIAM. komisen bagi setiap tahun polisi ditetapkan untuk semua syarikat. Mesyuarat Perancangan Strategi Selaku persatuan yang diperkasakan untuk menentukan hala tuju industri insurans hayat. Proses perbincangan berterusan akan dilaksanakan dengan pihak berkuasa untuk mewujudkan suasana perniagaan yang sesuai yang akan menjadikan industri insurans hayat sebagai penyumbang yang penting dalam sektor perkhidmatan kewangan. LIAM juga telah mengemukakan cadangan kepada BNM untuk melonggarkan had yang ditetapkan di bawah kawalan kos operasi. Untuk memenuhi keperluan menyelaraskan peraturan dan meningkatkan disiplin pasaran. rangka kerja yang lebih liberal akan menggalakkan lebih banyak persaingan sihat dan meningkatkan mutu produk dan perkhidmatan. LIAM perlu sentiasa mengkaji semula rancangan strategik untuk memastikan industri kekal pesat dan dinamik. Skop JTIC termasuk menggalakkan keselarasan peraturan. Untuk tujuan ini. dengan kerjasama BNM. Sejajar dengan persekitaran operasi baru. • Mengukuhkan fungsi kawal selia sendiri Persatuan dengan mengkaji semula struktur dan proses dalaman. LIAM akan meneruskan usahanya untuk menggalakkan profesionalisme industri insurans hayat dan meningkatkan peratus penduduk yang berinsurans.Garis panduan ini bertujuan meningkatkan kesedaran dan kefahaman pengguna terhadap pelbagai produk dan perkhidmatan kewangan. Maklumat kini akan dibentangkan dalam lembaran standard pendedahan produk untuk membolehkan pengguna membuat perbandingan terhadap jenis-jenis produk yang berbeza dan mengurangkan sebarang jualan berasaskan maklumat yang tidak tepat oleh pengantara. program pendidikan. Majlis Bersama Insurans-Takaful Dengan langkah untuk beralih kepada rejim berasaskan prinsip. Pemacu utama yang akan menentukan rangka tindakan industri dari 2010 hingga 2015 ialah: • Meningkatkan peratus penduduk yang berinsurans. Dalam tempoh beberapa tahun akan datang. Pendedahan komisen penuh akan diperkenalkan bagi insurans berkaitan pelaburan berkuatkuasa April 2010 manakala pendedahan komisen bagi produk insurans tradisional dijadualkan berkuatkuasa Jun 2011. • Meningkatkan kesedaran pengguna menerusi penerbitan media.

dua daripada setiap persatuan dan tiga ahli berkecuali yang dicalonkan oleh persatuan masing-masing. JITC akan terdiri daripada sembilan ahli. Walaupun majoriti pelan perubatan mengandungi pengecualian terhadap penyakit berjangkit Md Adnan Md Zain Presiden ANNUAL REPORT 2009 Life Insurance Association of Malaysia 9 . ilmu pengetahuan. Kementerian Kesihatan. Perbendaharaan. Dalam pada itu. nasihat dan kerjasama yang diberikan kepada LIAM. aduan yang dikemukakan kepada LIAM perlu melalui pelbagai peringkat. Saya juga ingin mengucapkan terima kasih kepada rakan sekerja dan ahli Jawatankuasa Pengurusan dan pelbagai Jawatankuasa Kerja kerana sumbangan mereka dari segi masa. Penghargaan Dengan berakhirnya satu lagi tahun yang sibuk dan padat. Pada Ogos 2009. saya ingin mengucapkan ribuan terima kasih kepada semua ahli LIAM atas sokongan dan kepercayaan yang diberikan kepada saya untuk memegang tampuk pimpinan Persatuan.atau pertikaian antara sektor dengan cara terbaik.2015. Di bawah penilaian semula ini. semua ahli telah bersetuju menepikan syarat ini dalam memproses tuntutan mereka. kami pasti bahawa cabaran yang lebih hebat bakal mendatang dalam usaha melaksanakan pelan strategik LIAM bagi 2010 . mengadakan sesi soal jawab dan menentukan tindakan disiplin sekiranya garis panduan Persatuan tidak dipatuhi. Akhir sekali. saya juga ingin merakamkan penghargaan kepada kakitangan sekretariat kerana kerja keras dan dedikasi mereka dalam menjalankan tugas mereka untuk memastikan urus setia beroperasi dengan lancar. kami mengeluarkan kenyataan akhbar untuk mengesahkan bahawa semua syarikat insurans hayat akan membayar semua tuntutan perubatan dan kemasukan hospital akibat A(H1N1). Prosedur Disiplin LIAM Dalam usaha meningkatkan kawal selia sendiri. Pengerusi JITC akan dilantik di kalangan anggota berkecuali. Sebelum ini. yang memerlukan kuarantin. kepakaran dan pengalaman yang banyak membantu LIAM melaksanakan kegiatan dan memenuhi kewajipan dengan jayanya. iaitu melalui Jawatankuasa Siasatan dan Jawatan Pengurusan sebelum keputusan akhir dibuat. LIAM telah menyemak semula prosedur disiplin yang digariskan di bawah Perlembagaan. Kementerian Kewangan. Untuk memastikan JITC diberikan tahap kebebasan tertinggi. KWSP dan badan kerajaan lain atas panduan. LIAM Menangani Isu Influenza A(H1N1) Saya ingin merakamkan setinggi-tinggi penghargaan kepada kesemua 18 ahli LIAM yang bersatu padu menangani isu wabak A(H1N1) yang melanda Malaysia pada 2009. Untuk memastikan keberkecualian JD. perlantikan Pengerusi akan dibuat secara bergilir. Jawatankuasa Disiplin (JD) akan diberi kuasa untuk menyiasat. Sokongan berterusan dan kerjasama daripada semua ahli amat dihargai. Saya juga ingin merakamkan setinggi-tinggi penghargaan kepada BNM.

Mr Koh Yaw Hui and YBhg Dato’ Dr Nirmala Menon. Ms Nancy Tan. Encik Mohd Din Merican and Mr Ng Lian Lu. Encik Muhamad Umar Swift. Mr Khor Hock Seng. Mr Kevin Jones. Mr Ooi Say Teng. Standing (from left) : Life Insurance Association of Malaysia 10 ANNUAL REPORT 2009 .2010 Seated (from left) : Encik Md Adnan Md Zain.M embers of the Management Committee 2009 .

Kumaran Alternate : Ms Kang Yu Fen Etiqa Insurance Berhad Main Representative : Encik Mohd Din Merican Alternate : Puan Nora Ishak Uni. J.Asia Life Assurance Berhad Members AmLife Insurance Berhad Main Representative : Mr Ng Lian Lu Alternate : Mr Patrick Cheah Gim Guan Alternate : Mr Clement Heng ING Insurance Berhad 5Main Representative : YBhg Dato’ Dr Nirmala Menon Alternate : Ms Anusha Thavarajah American International Assurance Bhd Main Representative : Mr Khor Hock Seng Alternate : Ms Veronica Selvanayagy Alternate : Mr J.M President Vice-President anagement Committee 2009 . Lee Malaysian Assurance Alliance Berhad Main Representative : Encik Muhamad Umar Swift Alternate : Mr John Leong Choon Wai Alternate : Ms Serena Thio Hui Ming CIMB Aviva Assurance Berhad Main Representative : Mr Kevin Jones Alternate : Ms Caroline Tee Alternate : Mr Andy Buddell MCIS ZURICH Insurance Berhad Main Representative : Encik Md Adnan Md Zain Alternate : Mr C. ANNUAL REPORT 2009 Life Insurance Association of Malaysia 11 .2010 Encik Md Adnan Md Zain MCIS ZURICH Insurance Berhad Mr Ooi Say Teng Uni.Asia Life Assurance Berhad Main Representative : Mr Ooi Say Teng Alternate : Mr Ho Teck Seng Alternate : Mr Raymond Lai You Kim Great Eastern Life Assurance (Malaysia) Berhad Main Representative : Mr Koh Yaw Hui Alternate : Mr Bruce Lee Yee Lam *As at 31 December 2009.

C Chairman Members ommittees & Working Committees 2009 .Asia Life Assurance Berhad Administration & Finance Committee Mr Ooi Say Teng Uni. Malaysian Branch Ms Tan LiLing Hong Leong Assurance Berhad Ms Anusha Thavarajah ING Insurance Berhad Mr Yang Chin Lee Malaysian Assurance Alliance Bhd Ms Shirl Chen Ooi Wai TM Asia Life Malaysia Bhd Bancassurance Committee Chairman Mr Kevin Jones CIMB Aviva Assurance Berhad Members Mr Ngu Kee Keong Allianz Life Insurance Malaysia Berhad Encik Firozdin Abdul Wahab AmLife Insurance Berhad Distribution System Committee Chairman Mr Khor Hock Seng American International Assurance Bhd Members Ms Hei Kim Yin Allianz Life Insurance Malaysia Berhad Life Insurance Association of Malaysia 12 ANNUAL REPORT 2009 .2010 Ms Lam Rose Sei American International Assurance Bhd Ms Serrina Foo AXA AFFIN Life Insurance Berhad Ms Caroline Tee CIMB Aviva Assurance Berhad Mr Chan Chee Wei Great Eastern Life Assurance (Malaysia) Berhad Ms Khoo Ai Lin Hong Leong Assurance Berhad Mr Ng Ah Bah ING Insurance Berhad Mr Daniel Han Malaysian Assurance Alliance Berhad Ms Yap Suat Yen Manulife Insurance Berhad Puan Norlia Mat Yusof Mayban Life Assurance Berhad Mr Abishek Bhatia Prudential Assurance Malaysia Berhad Mr Gan Teong Kiat TM Asia Life Malaysia Bhd Mr Raymond Lew Yung Chow Uni.Asia Life Assurance Berhad Puan Aziah Abdul Aziz AmLife Insurance Berhad Ms Veronica Selvanayagy American International Assurance Bhd Mr Bruce Lee Great Eastern Life Assurance (Malaysia) Berhad Mr Rohan Kananathan Hannover Life Re.

Asia Life Assurance Berhad Industry Promotion Committee Chairman Encik Muhamad Umar Swift Malaysian Assurance Alliance Berhad Members Ms Mala Patmarajah American International Assurance Bhd Education & Examination Committee Chairman Mr Koh Yaw Hui Great Eastern Life Assurance (Malaysia) Berhad Members Ms Ang Siew Gaik Allianz Life Insurance Malaysia Berhad Encik Azlanshah Mohamed Yusof AmLife Insurance Berhad Ms Tricia Loh CIMB Aviva Assurance Berhad Ms Ivy Edmeates CIMB Aviva Assurance Berhad Ms Vivienne Beh Etiqa Insurance Berhad Ms Yeo I-Peng Etiqa Insurance Berhad ANNUAL REPORT 2009 Life Insurance Association of Malaysia 13 . Kumaran MCIS ZURICH Insurance Berhad Mr William Oh Peng Wey TM Asia Life Malaysia Bhd Mr Jacky Chan Pen Lon Uni.Asia Life Assurance Berhad Ms Marilyn Loo Sin Kooi American International Assurance Bhd Ms Kang Poh Lee AXA AFFIN Life Insurance Berhad Mr Andy Ng Great Eastern Life Assurance (Malaysia) Berhad Mr Ho Ming Kee ING Insurance Berhad Mr Woo Man Loong Malaysian Assurance Alliance Berhad Mr Joseph Anthony Illingworth Manulife Insurance Berhad Mr Tan Choon Hock Prudential Assurance Malaysia Berhad Mr Albert Khor TM Asia Life Malaysia Bhd Mr Pakea Nathan a/l Chelliah Uni.Encik Mohd Aszemi Ibrahim AmLife Insurance Berhad Mr Chuah Chin Seong American International Assurance Bhd Ms Caroline Tee CIMB Aviva Assurance Berhad Mr Song Hock Wan Great Eastern Life Assurance (Malaysia) Berhad Ms Loh Guat Lan Hong Leong Assurance Berhad Ms Rosalind Yu Chwee Kum ING Insurance Berhad Encik Wan Mohd Kamil bin Wan Jaafar Etiqa Insurance Berhad Mr John Leong Choon Wai Malaysian Assurance Alliance Berhad Mr Jeffrie Teh Cheng Keat Manulife Insurance Berhad Mr C.

October 2009) Great Eastern Life Assurance (Malaysia) Berhad Ms Leong Pei Yee Great Eastern Life Assurance (Malaysia) Berhad Mr Ravinder Singh Hannover Life Re.f.e. Malaysian Branch Ms Geraldine Wong ING Insurance Berhad Puan Haslina Hamidan ING Insurance Berhad Mr Daniel Han Malaysian Assurance Alliance Berhad Puan Roziana Mohd Yatim Malaysian Assurance Alliance Berhad Puan Norliza Alias Malaysian Life Reinsurance Group Berhad Ms Susan Ong Manulife Insurance Berhad Mr Wilson Tang Manulife Insurance Berhad Encik Rizal Fadil (until September 2009) MCIS ZURICH Insurance Berhad Ms Tiffany Tan TM Asia Life Malaysia Bhd Ms Lee Poh Cheong American International Assurance Bhd Ms Ho Swee Ying AXA Affin Life Insurance Berhad Mr Steven Chow CIMB Aviva Assurance Berhad Mr Richard Lin Great Eastern Life Assurance (Malaysia) Berhad Ms Joanne Marie Lopez Hong Leong Assurance Berhad Mr Mark Wang ING Insurance Berhad Mr Danny Choong Yick Kheong Malaysian Assurance Alliance Berhad Mr Yeow Kok Kien Manulife Insurance Berhad Mr Yoon Mun Thim Prudential Assurance Malaysia Berhad Mr Tan Sze Teck TM Asia Life Malaysia Bhd Mr Geoff Aw Uni.Ms Jenny Leong (w.Asia Life Assurance Berhad Life Operations/IT Committee Chairman Encik Mohd Din Merican Etiqa Insurance Berhad Members Ms Lim Li Meng Allianz Life Insurance Malaysia Berhad Puan Azllynah Bakar AmLife Insurance Berhad Mr Henry Tham American International Assurance Bhd Investment Committee Chairman Mr Ng Lian Lu AmLife Insurance Berhad Members Ms Esther Ong Chen Woon Allianz Life Insurance Malaysia Berhad Ms Philomena Jan AmLife Insurance Berhad Life Insurance Association of Malaysia 14 ANNUAL REPORT 2009 .

Ms Frances Gomes AXA AFFIN Life Insurance Berhad Mr Christopher Woon Great Eastern Life Assurance (Malaysia) Berhad Mr Chris Cheong Hong Leong Assurance Berhad Mr Jimmy Wong ING Insurance Berhad Madam Lee Fooi Ming Malaysian Assurance Alliance Berhad Mr William Ng Cheng Chuan Manulife Insurance Berhad Mr Daryl Ong Etiqa Insurance Berhad Mr Lee Goon Hong TM Asia Life Malaysia Bhd Mr Lim Poh Yeow Uni.Asia Life Assurance Berhad Product Services & Technical Committee Chairman Mr Ng Lian Lu AmLife Insurance Berhad Members Mr Chin Tze How Allianz Life Insurance Malaysia Berhad Mr Patrick Cheah AmLife Insurance Berhad Mr Adit Trivedi American International Assurance Bhd Mr Steven Visvalingam AXA AFFIN Life Insurance Berhad Encik Yahya Adnan Ahmad CIMB Aviva Assurance Berhad Mr Lok Hoe San Etiqa Insurance Berhad Mr Yap Chee Keong Great Eastern Life Assurance (Malaysia) Berhad Ms Sophia Ch’ng Great Eastern Life Assurance (Malaysia) Berhad Mr Seow Fan Chong Hong Leong Assurance Berhad IT SECTION Members Mr Dave Giam Hock Hai Allianz Life Insurance Malaysia Berhad Mr Cheah Swee Chong AmLife Insurance Berhad Mr Dang Kok Heng American International Assurance Bhd Mr Chan Yuet Wah AXA AFFIN Life Insurance Berhad Ms Melissa Low Kim Boey Etiqa Insurance Berhad Mr Lee Pooi Hor Great Eastern Life Assurance (Malaysia) Berhad ANNUAL REPORT 2009 Life Insurance Association of Malaysia 15 .Asia Life Assurance Berhad Mr Alan Goon ING Insurance Berhad Mr Ooi Sze Chuan Manulife Insurance Berhad Mr K’ng Tuan Kah MCIS ZURICH Insurance Berhad Ms Wong Kim Hoe TM Asia Life Malaysia Bhd Mr Goh Kim Lai Uni.

Mr Pranil Sharma Hannover Life Re.Asia Life Assurance Berhad Regulation/Enforcement (Disciplinary) Committee Chairman YBhg Dato’ Dr Nirmala Menon ING Insurance Berhad Members Mr Khor Hock Seng American International Assurance Bhd Mr Ng Lian Lu AmLife Insurance Berhad Encik Mohd Din Merican Etiqa Insurance Berhad Encik Muhamad Umar Swift Malaysian Assurance Alliance Berhad Takaful Committee Chairman YBhg Dato’ Dr Nirmala Menon ING Insurance Berhad Members Mr Laurent Haw Kok Foong Allianz Life Insurance Malaysia Berhad Taxation Committee Chairman Mr Ng Lian Lu AmLife Insurance Berhad Life Insurance Association of Malaysia 16 ANNUAL REPORT 2009 .Asia Life Assurance Berhad Members Ms Chin Yien Ping Allianz Life Insurance Malaysia Berhad Ms Ng Cheng Man American International Assurance Bhd Mr Edward Kong AXA AFFIN Life Insurance Berhad Ms Fiona Kuok / Ms Pauline Siew CIMB Aviva Assurance Berhad Mr Mah Poon Keong Great Eastern Life Assurance (Malaysia) Berhad Ms Wong Sui Ying Etiqa Insurance Berhad Mr Mooi Kin Seng ING Insurance Berhad Mr Lee Kok Wah Hong Leong Assurance Berhad Mr Tang Loon Koon Manulife Insurance Berhad Ms Wong Fong Leng Prudential Assurance Malaysia Berhad Ms Shirl Chen Ooi Wai TM Asia Life Malaysia Bhd Mr Ho Teck Seng Uni. Malaysian Branch Mr Loke Chang Yueh ING Insurance Berhad Ms Serena Thio Malaysian Assurance Alliance Berhad Mr Leo Ng Manulife Insurance Berhad Ms Kang Yu Fen MCIS ZURICH Insurance Berhad Mr Ong Kheng Heng Prudential Assurance Malaysia Berhad Mr Khoo Poh Beng TM Asia Life Malaysia Bhd Mr Raymond Lai Uni.

Malaysian Branch Mr Woo Man Loong Malaysian Assurance Alliance Berhad Ms Susan Ong Manulife Insurance Berhad *As at 31 December 2009.Mr Clement Heng Eak Yak AmLife Insurance Berhad Mr Lee Jiau Jiunn American International Assurance Bhd Encik Muhammad Fikri Mohammad Rawi CIMB Aviva Assurance Berhad Puan Nora Ishak Etiqa Insurance Berhad Mr Ravinder Singh Hannover Life Re. Puan Norizan Yahya Great Eastern Life Assurance (Malaysia) Berhad ANNUAL REPORT 2009 Life Insurance Association of Malaysia 17 .

the Asian Institute of Finance (AIF) was a joint initiative by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia. facilitating further fine tuning of the model financial statements. The cost would be cofunded by the insurance companies i. based on 1% of staff salaries and a matching grant by BNM. During the year under review. For the insurance industry. The up-scaling of MII initiatives encompassed curriculum and programme enhancements. the Malaysian Insurance Institute (MII) and Securities Industry Development Corporation (SIDC). IASB DP/2009/2: Credit Risk in Liability Measurement. In 2009. 2. actuaries and claims personnel of member companies. LIAM contributed to the consultation process facilitated by MASB on the following accounting standards. 3. and 4. For the first phase of this project. Relevant feedback obtained was Human Capital Development Initiatives Formed in November 2008. an exposure draft of the model financial statements had been issued. exposure drafts and discussion papers: 1. IASB ED/2009/3: Derecognition (proposed amendments to IAS 39 and IFRS 7). Islamic Banking and Finance Institute Malaysia (IBFIM). International Financial Reporting Standards (IFRS) The Malaysian authorities are committed towards full convergence with International Financial Reporting Standards by January 2010. a budget of RM44.8 million had been approved for the up-scaling initiatives of the MII. The revised definitions are expected to replace the current standard wordings used by all life insurance companies since 2002. This would be achieved through strengthened institutional arrangements for collaboration between AIF and the four training institutions. LIAM undertook a review of the definition for critical illnesses (CI) and completed the exercise in November 2009. LIAM has actively participated in the various working groups set up by the Malaysian Accounting Standards Board (MASB) in reviewing and drafting accounting standards impacting the insurance industry. Institut BankBank Malaysia (IBBM). we have undertaken a wide range of projects and assignments and this has been made possible through the commitment and dedication of our committee and task force representatives. The review was done by a Task Force comprising medical practitioners. Since then. LIAM was also invited into the Working Committee set up by the Malaysian Institute of Certified Public Accountants (MICPA) to develop revised model financial statements for the insurance industry. aiming to enhance human capital development initiatives for the financial services sector. A comparative study was also initiated by the Task Force to evaluate the developments of CI insurance in a number of developed markets. Listed below were highlights of the major activities and key issues dealt with by LIAM: Common Wordings for Critical Illness (CI) In response to the advancement in medical science and new diagnostics methods.5 million had already been allocated.e. Being the representative body of life insurance companies. IASB ED/2009/12: Financial Instruments: Amortised Cost and Impairment. some RM22. MASB ED 69: Proposal to replace the requirements on the classification and measurement of financial assets in FRS 139. Life Insurance Association of Malaysia 18 ANNUAL REPORT 2009 .R eport of the Management Committee taken into account. LIAM has been entrusted with the responsibility to position the industry as a strong and influential self-regulatory body.

Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Malaysian Financial Planning Council (MFPC) The Registered Financial Planner (RFP) is one of the professional qualifications. recognized by BNM for the application of the Financial Adviser Licence and the Securities Commission for its Capital Markets Service Licence. research and publications and faculty enhancement and expansion. investment banking. Another objective was to assess the future training needs of the insurance industry. IT infrastructure. insurance and takaful. 21 October 2009 LIAM was invited to be represented in the Advisory Committee of the Malaysia ANNUAL REPORT 2009 Life Insurance Association of Malaysia 19 . The objective of this programme is to build a sustainable pool of young talents for the financial services sector. five representatives from LIAM member companies sit on the National Council for 2009 to 2011. Jointly hosted by FSTEP. LIAM has always maintained its presence at the MFPC National Council. some 684 participants have undergone the FSTEP training. Financial Sector Talent Enrichment Programme (FSTEP) The Financial Sector Talent Enrichment Programme (FSTEP). workshops and case studies. Islamic banking. knowledge and resource up-scaling. the workshop was attended by some 64 participants comprising mainly heads and senior personnel from the human resource divisions. The MFPC National Council and the Advisory Board and Shariah Advisory Committee had established the Shariah RFP Scholarship Fund worth RM300. Introduced in 2002. which includes simulations. MFPC has made significant progress over the years. and internship programmes with financial institutions.000.web-based learning systems. Association (MTA). the RFP is a Malaysian based financial qualification jointly developed by LIAM. It encompasses classroom training. As one of the founding organizations of MFPC. MII and the National Association of Malaysian Life Insurance and Financial Advisors (NAMLIFA) in response to the need to provide financial planning professionals with proper qualifications. Malaysia Healthcare Travel Council (MHTC) Workshop on ‘The Way Forward: Batch 5 and Beyond’. The Malaysian Financial Planning Council (MFPC) was subsequently established to promote the development of RFP. LIAM. Selected graduates will have to undergo an intensive one-year training programme covering conventional banking. providing practitioners with Takaful and Islamic financial planning principles and knowledge. A half-day workshop on ‘The Way Forward: Batch 5 and Beyond’ was held on 21 October 2009 to promote the FSTEP Batch 5 preselected scheme. As of to date. an initiative of BNM and the financial services sector had been in operations since September 2007. One major development was the introduction of the Shariah RFP programme in August 2008. Currently.

The Advisory Committee is chaired by the Minister of Health and co-chaired by the Minister in the Prime Minister’s Department. Its Committee members were appointed from representatives of the Government and private sector involved in healthcare travel. The first meeting of the Advisory Committee of Healthcare Travel Council (MHTC) formed MHTC was held on 15 December 2009. NAMLIFA 31st Mega Convention. 11 August 2009 Life Insurance Association of Malaysia 20 ANNUAL REPORT 2009 . The purpose of this committee is to advise on policy issues and to map out the future direction for healthcare Official launch of the Malaysia Healthcare Travel Council. under the Malaysian Ministry of Health. 21 December 2009 travel. National Association of Malaysian Life Insurance and Financial Advisors (NAMLIFA) LIAM enjoys a cordial working relationship with NAMLIFA and our collaborative efforts have culminated into many successful ventures. The MHTC was officially launched by the Malaysian Prime Minister on 21 December 2009. The main objective of MHTC is to promote and develop the health tourism industry towards establishing Malaysia as the healthcare destination of choice in this region.

He presented the topic ‘Challenges and Opportunities for Insurance Agents’.Conference/Seminar PIS Insurance Seminar Agency Mr Ng Lian Lu. 17 August 2009 Apart from focusing our efforts to raise the professionalism of intermediaries. including BNM regulations and LIAM’s self regulatory rules. 21 to 23 June 2009 ANNUAL REPORT 2009 Life Insurance Association of Malaysia 21 . LIAM and NAMLIFA have maintained an open channel of discussion. The conference attracted some 170 delegates comprising CEOs. LIAM held a welcome reception for the participants and speakers on 21 June 2009. was one of the speakers at the Pertubuhan Insurans Sarawak (PIS) inaugural Insurance Agency Seminar held in Kuching. 17 th Annual LIMRA-LOMA Strategic Issues Conference The 17th Annual LIMRA-LOMA Strategic Issues Conference was held in Kuala Lumpur from 21 to 23 June 2009. The cooperation between LIAM and NAMLIFA had extended beyond the boardrooms to include community service. the two-day conference showcased a line-up of distinguished speakers and regulators from various countries. LIAM members also gave their support to NAMLIFA’s Annual Convention and AKARD Awards Night. which have a direct impact on the agency force. LIAM Immediate Past President. namely the NAMLIFA-LIAM Charity Golf and the Nationwide Blood Donation Campaign in conjunction with Life Insurance Day 2009. Sarawak on 10 March 2009. Encik Md Adnan was also the Guest of Honour at the 6 th AKARD Awards Recognition Night for the Perak region held in Ipoh on 11 July 2009 and Central Region held in Subang Jaya on 17 August 2009. Among the speakers were 17th Annual LIMRA-LOMA Strategic Issues Conference. NAMLIFA Central Region AKARD Awards Recognition Night. As the host. particularly on matters concerning the agency force. Encik Md Adnan Md Zain participated in the CEO Forum on the discussion titled ‘Riding the Wave of Change in Pursuing Excellence in Times of Financial Turbulence’. With the theme ’The New Global Economy: Resilience in Challenging Times’. During the 31st Mega Convention held from 11 to 13 August 2009 at Genting Highlands. senior managers and regulators from 15 countries.

The Young ASEAN Managers Award (YAMA) was organized in conjunction with the Congress. delivered an interesting paper on the topic: ‘Find the Path to Profitable and Sustainable Growth’. with the support from AITRI and AIC. It was also to recognize the agency leaders’ personal excellence and outstanding achievements in life insurance selling. the Congress attracted some 80 participants from ASEAN countries and Bahrain. The 7th ASEAN Insurance Congress was also staged in Vientiane from 7 to 8 October 2009. for the 35th ASEAN Insurance Council (AIC) meeting from 7 to 9 October 2009. The AIC is a regional private sector grouping of insurance associations in ASEAN. Mr Charlie Oropeza.Mr Marvin Feldman. (Director of Global Consulting Services. President and CEO of Life Foundation. The Congress was hosted by the Ministry of Finance of Laos PDR. The Council meeting is held once a year in a designated ASEAN country. 35th ASEAN Insurance Council Meeting Representatives from life and non-life insurance associations from ASEAN countries congregated in Vientiane. Bumiputera Agents Convention LIAM jointly organized the 2009 Bumiputera Agents Convention with MII on 1 August 2009. (CEO of Prudential Malaysia). spoke on ‘Addressing the Customer Experience: What Investments Make Sense in the Current Financial Climate?’. Mr Mark Saunders. facilitating exchange of information among participants on the latest development of their respective markets. Yuen. Mr Sidney T. Senior Vice President and Deputy 2009 Bumiputera Agents Convention. (Principal and Managing Director. This meeting served as an effective communication platfor m. who shared on: ‘How do We Survive in this Chaos?’. Another expert. Last but not least. Laos PDR. Asia Tillinghast-Towers Perrin). they also discussed on the ASEAN Insurance Training and Research Institute (AITRI) and the ASEAN Natural Disasters and Research Works Sharing. 1 August 2009 Life Insurance Association of Malaysia 22 ANNUAL REPORT 2009 . the Council also liaised closely with the ASEAN Insurance Regulators to discuss common issues concerning the insurance industry in general. Convergys Corporation). Asia Pacific. The award was to acknowledge the agency leaders’ contributions in building up individuals into successful life insurance professionals. enlightened the public about ‘Product Alignment by the Numbers: Fundamentals and Lessons Learned in a Global Market’. The Convention drew a record attendance of 514 participants. LIAM was represented by Mr Ooi Say Teng (LIAM’s Vice President) and Encik Mohd Din Merican (Management Committee Member). As in previous meetings. Among other benefits. formed to promote regional ties and cooperation among ASEAN insurers. The Bumiputera Agency Leaders Award was also held for the first time in conjunction with the Convention. Themed ‘Best Practices to Boost the Bottom Line’. Ms Sophia Ch’ng.

contributions and dedication in the insurance industry in this region. Among the Malaysian participants were LIAM President. The speakers included Mr Robert Stein (Global Financial Services. is the first Malaysian to win this prestigious award. Encik Md Adnan Md Zain had appeared on several TV programmes to raise consumer awareness on life insurance. Encik Md Adnan was on a consumer programme on RTM1 to talk about the Malaysian life insurance industry. It honoured outstanding young managers for their achievements. 7 October 2009 Head of Finance and Corporate Affairs. CEOs and senior personnel from member companies. Mr Stephan Binder (McKinsey & Company). being an inaugural double achiever.speakers. Ms Ch’ng.org. LIAM participated in several TV talk shows. These articles are available on the LIAM website at www. This was followed by appearances on another consumer focused programme on TV3 on 1 August 2009 and 8 August 2009. Encik Md Adnan also participated in a business programme on RTM1 on 24 August 2009 to share on how the life insurance industry assisted the economy in general during the economic crisis. The LIAM President was also interviewed by TV9 on 10 December 2009 about market liberalization.liam. The articles on understanding cash bonuses and life insurance claims had been compiled into informative booklets. The award had been organized by AITRI since 2005. Thailand from 1 to 4 November 2009. LIAM was committed in ensuring the success of the next PIC. VicePresident. He also talked on the presence and interest of foreign companies in the local life insurance industry. With the theme ‘Building a World Class Business in the Asia Pacific Region – Success Strategies for Multinational and Domestic Companies’. to provide information on the importance and benefits of life insurance. 24th Pacific Insurance Conference 2009 Being the inaugural host of the 23rd Pacific Insurance Conference (PIC) 2007. Ernst & Young). the conference presented a lineup of international distinguished and experienced As part of its continuous efforts to raise insurance awareness. winner of YAMA. Great Eastern Life Assurance (Malaysia) Berhad emerged as the 2009 Award Winner. LIAM’s Educational Articles In an effort to educate the public on the benefits of life insurance. On 4 May 2009. Mr Jim Morris (Pacific Life Insurance Company) and Mr Bill Toppeta (Metlife International). ANNUAL REPORT 2009 Life Insurance Association of Malaysia 23 . Insurance Awareness TV interviews Ms Sphia Ch’ng. YAMA was introduced by AIC to encourage young managers within the industry to actively contribute and excel in their field of work. Dr Thomas Kabisch (MEAG Munich). LIAM had contributed articles on various topics concerning life insurance for publication in the newspapers. Some 25 Malaysian participants attended the 24th PIC in Bangkok.my.

(CEO. (CEO.017 donors. 26 October 2009 Life Insurance Association of Malaysia 24 ANNUAL REPORT 2009 . National Consumer Compliants Centre cum Secretary General of FOMCA). Penang. covering subjects such as insurance and consumers’ rights. FOMCA Workshop LIAM. in collaboration with the Federation of Malaysian Consumers’ Association (FOMCA). The articles. Apart from Kuala Lumpur. to encourage public participation. Kuala Terengganu. managing insurance policies during financial crisis. All in. Johor Bahru. 16 blood donation sites were set up in major towns and cities around the country. Kuantan. The theme of the donation drive was ‘Donate Blood – Your Gift of Life’. Klang. numerous blood donation sites were also put up in Petaling Jaya. Sibu and Kota Kinabalu. organized a workshop with the theme ‘Change Begins with Me’ on 4 June 2009. Ipoh. The workshop aimed to raise the awareness of consumers. Consumer Research and Resource Centre. FOMCA) and Encik Muhammad Sha’ani Abdullah. The half-day workshop was attended by some 40 representatives from LIAM member companies. 4 June 2009 Corporate Responsibility Social Life Insurance Day – ‘Donate Blood – Your Gift of Life’ Keeping up with the efforts to nurture a caring society. Kota Bharu. endowment policies and critical illness policies. the drive managed to achieve a grand total of 1. They shared informative and handy tips on smart spending. Melaka. Alor Setar. FOMCA Workshop: Change Begins with Me. were also published in a relatively new English newspaper in its ‘Underwriter’ column. The speakers were YBhg Datuk Paul Selva Raj. Through the combined efforts of LIAM member companies and NAMLIFA members. LIAM and NAMLIFA jointly organized a week-long nationwide blood donation campaign from 26 Life Insurance Day: Donate Blood – Your Gift of Life.A series of six new articles were published in a Mandarin newspaper between June and July 2009. October 2009 to 1 November 2009 in conjunction with Life Insurance Day 2009. while educating them on smart spending in order to sustain a modest living lifestyle during the current economic situation. Seremban. The articles which had been published are available on the LIAM website.

(Deputy Minister of Finance). witnessed the participation of some 87 players from the industry. In conjunction with this year’s dinner. During the half-day meeting. held on 30 October 2009 at the Mines Resort and Golf Club. ANNUAL REPORT 2009 Life Insurance Association of Malaysia 25 . Conclusion The Management Committee wishes to thank all members for their support and cooperation rendered to the Association. The NAMLIFA . the Organising Committee also held an Insurance Industry Idol singing contest with attractive cash prizes up for grabs. AMLA and MITBA shared the chairing of this committee. MII. Mr Steve Omenge Mainda. The dinner was jointly organized by Association of Malaysian Loss Adjusters (AMLA). the Kenya Insurance Regulatory Authority also briefed on the various developments within the Kenyan insurance industry. a home for abused and abandoned children. All proceeds from the tournament were donated to Rumah Hope.LIAM Charity Golf In addition to holding meetings. PIAM and MTA on 27 October 2009. LIAM. The Guest of Honour was YB Dato’ Wira Chor Chee Heung. located in Paramount Garden. MTA and PIAM. Some 850 guests attended the dinner. PIAM and MTA exchanged notes on the growth and development of the life and general insurance industry and the takaful industry respectively. We look forward to our members’ continuous cooperation. LIAM.LIAM Charity Golf. there were also lucky draw prizes for the guests. All the five finalists gave a rousing performance during the dinner. participation and commitment as we take on new challenges in the year ahead. LIAM and NAMLIFA also collaborated on social events. Like previous dinners. In turn. The meeting was part of the Kenya Insurance Regulatory Authority study tour of the Malaysian insurance industry. thanks to the generous contributions of the member sponsors from the industry. Petaling Jaya.NAMLIFA . Seri Kembangan. Most of them dressed in black and white in accordance with the theme of ‘Black and White Nite’. the Malaysian Insurance and Takaful Brokers Association (MITBA). LIAM was the main sponsor of this tournament. It was graced by YB Dato’ Zamani bin Abdul Ghani (Deputy Governor of BNM). met up with senior representatives from LIAM. Malaysian Insurance Industry Annual Dinner The Malaysian Insurance Industry Annual Dinner was held on 4 December 2009 at Crowne Plaza Mutiara Kuala Lumpur. NAMLIFA-LIAM Charity Golf. 30 October 2009 Social Visit by Kenya Insurance Regulatory Authority A high level delegation from the Kenya Insurance Regulatory Authority led by its Chairman.

LIAM telah diberi kepercayaan dan tanggungjawab untuk mengukuhkan kedudukannya dalam industri sebagai badan kawal selia sendiri yang teguh dan berwibawa. Ini akan dicapai menerusi penyusunan institusi secara lebih kukuh bagi kerjasama antara AIF dan empat institusi latihan. pakar aktuari dan pegawai tuntutan ahli-ahli LIAM. Tugasan tersebut telah selesai pada bulan November 2009.L aporan Jawatankuasa Pengurusan industri insurans. iaitu Institut Bank-Bank Malaysia (IBBM). Piawaian Laporan Antarabangsa (IFRS) Kewangan Malaysia amat komited untuk mematuhi sepenuhnya Piawaian Laporan Kewangan Antarabangsa menjelang Januari 2010. Institut Perbankan dan Kewangan Islam Malaysia (IBFIM). draf pendedahan dan kertas perbincangan berikut: 1. IASB DP/2009/2: Credit Risk in Liability Measurement. kami telah melaksanakan pelbagai projek dan tugasan yang berjaya disempurnakan dengan penuh komitmen dan dedikasi oleh jawatankuasa dan wakil pasukan petugas kami. Sepanjang tahun 2009 LIAM telah menyumbang kepada proses perundingan yang diselaraskan oleh MASB mengenai piawaian perakaunan. Sepanjang tahun 2009. 2. untuk meningkatkan pembangunan modal insan bagi sektor perkhidmatan kewangan. satu draf pendedahan penyata kewangan contoh telah dikeluarkan. IASB ED/2009/3: Derecognition (proposed amendments to IAS 39 and IFRS 7). Justeru. 3.8 juta telah diluluskan sebagai inisiatif peningkatan MII. LIAM juga telah dijemput untuk menganggotai Jawatankuasa Kerja yang ditubuhkan oleh Institut Akauntan Awam Bertauliah Malaysia (MICPA) untuk menyediakan penyata kewangan contoh yang disemak semula untuk Inisiatif Pembangunan Modal Insan Institut Kewangan Asia (AIF) ditubuhkan pada November 2008 sebagai inisiatif bersama oleh Bank Negara Malaysia (BNM) dan Suruhanjaya Sekuriti Malaysia. LIAM telah menyemak semula definisi penyakit kritikal (CI). Kos ini akan dibiayai bersama oleh syarikat insurans iaitu berasaskan 1% gaji kakitangan dan dana yang sama banyak Life Insurance Association of Malaysia 26 ANNUAL REPORT 2009 . Sorotan aktiviti utama dan isu penting yang ditangani oleh LIAM disenaraikan di bawah: Definisi Umum bagi Penyakit Kritikal (CI) Selaras dengan kemajuan yang dicapai dalam sains perubatan dan kaedah diagnosis baru. Maklum balas yang diperolehi telah diambil kira bagi memperkemaskan lagi penyata kewangan contoh. Definisi yang disemak semula dijangka akan menggantikan definisi semasa yang digunakan oleh syarikat insurans hayat sejak 2002. Institut Insurans Malaysia (MII) dan Perbadanan Pembangunan Industri Sekuriti (SIDC). Semakan semula telah dilakukan oleh Pasukan Petugas yang terdiri daripada para pengamal perubatan. Untuk industri insurans. peruntukan belanjawan RM44. LIAM aktif menyertai pelbagai kumpulan kerja yang ditubuhkan oleh Lembaga Piawaian Perakaunan Malaysia (MASB) untuk menyemak dan merangka piawaian perakaunan yang membabitkan industri insurans. IASB ED/2009/12: Financial Instruments: Amortised Cost and Impairment. MASB ED 69: Proposal to replace the requirements on the classification and measurement of financial assets in FRS 139. 4. Selaku persatuan yang mewakili syarikatsyarikat insurans hayat. Satu kajian perbandingan juga telah dilakukan oleh Pasukan Petugas untuk menilai perkembangan dalam insurans penyakit kritikal di beberapa negara maju.

peningkatan sumber dan pengetahuan. serta program latihan dengan institusi kewangan. RFP adalah kelayakan kewangan Malaysia yang diusahakan bersama oleh LIAM. Pencapaiannya termasuk memperkenalkan program RFP Syariah pada bulan Ogos 2008 untuk membekalkan pengetahuan dan prinsip perancangan kewangan Islam dan Takaful kepada para perancang kewangan. LIAM sentiasa mengekalkan kehadirannya dalam Majlis Kebangsaan MFPC. perbankan pelaburan. Satu lagi objektif ialah untuk menilai keperluan latihan industri insurans pada masa hadapan. insurans dan takaful.000. permohonan Lesen Penasihat Kewangan dan Suruhanjaya Sekuriti bagi Lesen Perkhidmatan Pasaran Modal. Diperkenalkan pada 2002. Setakat ini. Objektif utama MHTC ialah untuk mempromosi dan membangunkan industri pelancongan kesihatan dalam usaha menjadikan Malaysia destinasi penjagaan kesihatan pilihan di rantau ini.daripada BNM. Inisiatif peningkatan MII merangkumi peningkatan kurikulum dan program. kira-kira 684 peserta telah menjalani latihan FSTEP. bengkel dan kajian kes. simulasi. Sebagai salah sebuah organisasi pengasas MFPC. Majlis Perancangan Malaysia (MFPC) Kewangan Perancang Kewangan Berdaftar (RFP) merupakan salah satu daripada kelayakan profesional. Program Meningkatkan Tenaga Mahir dalam Sektor Kewangan (FSTEP) Program Meningkatkan Tenaga Mahir dalam Sektor Kewangan (FSTEP) adalah satu inisiatif BNM dan sektor perkhidmatan kewangan yang dijayakan sejak September 2007. Bengkel setengah hari mengenai ‘Langkah Menuju Ke Hadapan: Kumpulan 5 dan Selanjutnya’ telah diadakan pada 21 Oktober 2009 untuk mempromosikan skim pra-pilihan FSTEP Kumpulan 5. Institut Insurans Malaysia (MII) dan Persatuan Kebangsaan Ejen-Ejen Insurans Hayat dan Perancang Kewangan Profesional Malaysia (NAMLIFA) bagi memenuhi keperluan untuk mengiktiraf perancang kewangan profesional. Pada masa ini. sistem pembelajaran berasaskan web. yang diiktiraf oleh BNM bagi ANNUAL REPORT 2009 Life Insurance Association of Malaysia 27 . Untuk fasa pertama projek ini. Majlis Kebangsaan MFPC dan Lembaga Penasihat dan Jawatankuasa Penasihat Syariah telah menubuhkan Tabung Biasiswa RFP Syariah bernilai RM300. Ia melibatkan latihan dalam kelas. MFPC telah mengorak langkah besar sejak ditubuhkan. Persatuan Insurans Am Malaysia (PIAM) dan Persatuan Takaful Malaysia (MTA). perbankan Islam. kira-kira RM22. meliputi perbankan konvensional. Objektif program ini ialah untuk melahirkan sekumpulan bakat muda yang lestari untuk sektor perkhidmatan kewangan. lima orang wakil daripada ahli LIAM menganggotai Majlis Kebangsaan bagi penggal 2009 hingga 2011. infrastruktur IT. LIAM.5 juta sudah diperuntukkan. penyelidikan dan penerbitan. MHTC telah dilancarkan secara rasmi oleh Perdana Menteri Malaysia pada 21 Disember 2009. Bengkel ini yang dianjurkan bersama oleh FSTEP. Majlis Perancangan Kewangan Malaysia (MFPC) seterusnya ditubuhkan untuk menggalakkan pembangunan RFP. dan pemulihan dan pembesaran fakulti. Siswazah yang terpilih perlu menjalani program latihan intensif selama satu tahun. telah dihadiri oleh kira-kira 64 peserta yang kebanyakannya terdiri daripada ketua dan pegawai kanan daripada bahagian sumber manusia. Majlis Pelancongan Penjagaan Kesihatan Malaysia (MHTC) LIAM telah dijemput untuk menganggotai Jawatankuasa Penasihat Majlis Pelancongan Penjagaan Kesihatan Malaysia (MHTC) yang ditubuhkan di bawah Kementerian Kesihatan Malaysia.

Persidangan selama dua hari ini yang bertemakan ‘Ekonomi Global Baru: Daya Tahan pada Era Mencabar’ ( The New Global Economy: Resilience in Challenging Times) telah menampilkan barisan penceramah dan pengawal selia berwibawa dari pelbagai negara. Encik Charlie Oropeza. malah LIAM dan NAMLIFA telah berganding bahu menjalankan projek khidmat masyarakat seperti Golf Amal Life Insurance Association of Malaysia 28 ANNUAL REPORT 2009 . yang memberi kesan secara langsung ke atas tenaga agensi. membentangkan kertas kerja menarik yang bertajuk: ‘Mencari Laluan untuk Mencapai Pertumbuhan Menguntungkan dan Lestari’ (Find the Path to Profitable and Sustainable Growth ). Ahli-ahli LIAM juga memberi sokongan kepada Konvensyen Tahunan NAMLIFA dan Malam Anugerah AKARD. Convergys Corporation). membincangkan topik tentang ‘Menangani Pengalaman Pelanggan: Apakah Pelaburan Yang Munasabah dalam Iklim Kewangan Semasa?’ ( Addressing the Customer Experience: What Investments Make Sense in Persatuan Kebangsaan Ejen-Ejen Insurans Hayat dan Perancang Kewangan Profesional Malaysia (NAMLIFA) LIAM menjalin hubungan kerja yang mesra dengan NAMLIFA dan usaha sama ini telah menghasilkan banyak projek yang berjaya. (CEO Prudential Malaysia). Persidangan/Seminar Seminar Agensi Insurans PIS Encik Ng Lian Lu. Pada Konvensyen Mega Ke-31 yang berlangsung dari 11 hingga 13 Ogos 2009 di Genting Highlands. LIAM meraikan peserta dan penceramah di jamuan alu-aluan pada 21 Jun 2009.Jawatankuasa Penasihat dipengerusikan oleh Menteri Kesihatan dengan Menteri di Jabatan Perdana Menteri sebagai pengerusi bersama. Seorang lagi pakar. Sarawak pada 10 Mac 2009. Encik Sidney T. Asia Pacific. LIAM dan NAMLIFA telah mengekalkan saluran perbincangan terbuka. Presiden dan Ketua Pegawai Eksekutif Life Foundation. Persidangan ini telah menarik kira-kira 170 peserta yang terdiri daripada Ketua Pegawai Eksekutif. adalah salah seorang penceramah di Seminar Agensi Insurans pertama Pertubuhan Insurans Sarawak (PIS) yang dianjurkan di Kuching. Selain menumpukan kepada usaha untuk meningkatkan profesionalisme pengantara. khususnya mengenai isu-isu yang berkaitan dengan ejen termasuk peraturan BNM dan peraturan kawal selia sendiri LIAM. Sebagai tuan rumah. bekas Presiden LIAM. Persidangan Isu Strategik LIMRA-LOMA Ke-17 Persidangan Tahunan Isu Strategik LIMRA-LOMA Ke-17 telah berlangsung di Kuala Lumpur dari 21 hingga 23 Jun 2009. Kerjasama antara LIAM dan NAMLIFA bukan setakat sesi mesyuarat sahaja. Tujuan jawatankuasa ini ialah untuk memberi nasihat tentang isu dasar dan untuk menetapkan hala tuju industri pelancongan kesihatan pada masa hadapan. (Pengarah Global Consulting Services. Mesyuarat pertama Jawatankuasa Penasihat MHTC telah diadakan pada 15 Disember 2009. pengurus kanan dan pengawal selia dari 15 negara. Encik Md Adnan Md Zain telah menyertai Forum Ketua Pegawai Eksekutif bertajuk ‘Menongkah Arus Perubahan dalam Mengejar Kecemerlangan pada Zaman Kegawatan Kewangan’ (Riding the Wave of Change in Pursuing Excellence in Times of Financial Turbulence). yang menyampaikan topik: ‘Bagaimana untuk Terus Hidup dalam Kekalutan?’ (How do we Survive in this Chaos?). Encik Md Adnan juga menjadi Tetamu Kehormat pada Malam Pengiktirafan Anugerah AKARD Ke-6 bagi Kawasan Perak yang dianjurkan di Ipoh pada 11 Julai 2009 dan Kawasan Tengah yang berlangsung di Subang Jaya pada 17 Ogos 2009. Ahli Jawatankuasanya dilantik dari kalangan wakil Kerajaan dan sektor swasta yang terlibat dalam pelancongan penjagaan kesihatan. Antara para penceramah ialah Encik Marvin Feldman. NAMLIFA-LIAM dan Kempen Derma Darah Seluruh Negara sempena Hari Insurans Hayat 2009. Yuen. Kertas pembentangan beliau bertajuk ‘Cabaran dan Peluang bagi Ejen Insurans’.

Cik Sophia Ch’ng. kongres ini telah menarik kira-kira 80 peserta dari negara ASEAN dan Bahrain. Asia Tillinghast-Towers Perrin). Ia mengiktiraf pengurus muda berdasarkan pencapaian. Anugerah Pengurus Muda ASEAN (YAMA) telah disampaikan sempena kongres ini. LIAM memberi komitmen sepenuhnya untuk memastikan kejayaan PIC seterusnya.the Current Financial Climate?). amnya. Persidangan yang bertema ‘Membina Perniagaan Bertaraf Dunia di Rantau Asia ANNUAL REPORT 2009 Life Insurance Association of Malaysia 29 . Seperti mesyuarat pada tahun-tahun terdahulu. LIAM diwakili oleh Encik Ooi Say Teng (Naib Presiden LIAM) dan Encik Mohd Din Merican (Ahli Jawatankuasa Pengurusan). Kira-kira 25 peserta Malaysia menghadiri PIC Ke-24 di Bangkok. YAMA telah diperkenalkan oleh AITRI sejak 2005. Thailand dari 1 hingga 4 November 2009. Kongres Insurans ASEAN Ke-7 juga dianjurkan di Vientiane dari 7 hingga 8 Oktober 2009. AIC adalah perhimpunan persatuan insurans swasta serantau ASEAN. CEO dan pegawai kanan ahliahli LIAM. menarik perhatian umum dengan pembentangan tentang ‘Penjajaran Produk Mengikut Nombor: Asas dan Pelajaran Yang Dipelajari dalam Pasaran Global’ (Product Alignment by the Numbers: Fundamentals and Lessons Learned in a Global Market). Antara lain mereka juga membincangkan tentang Institut Latihan dan Penyelidikan Insurans ASEAN (AITRI) dan Perkongsian Kerja Penyelidikan dan Bencana Alam ASEAN. Kongres dianjurkan oleh Kementerian Kewangan Laos PDR. Konvensyen Ejen Bumiputera LIAM menganjurkan Konvensyen Ejen Bumiputera 2009 bersama MII pada 1 Ogos 2009. (Ketua dan Pengarah Urusan. Ia juga bertujuan untuk mengiktiraf kecemerlangan peribadi pemimpin agensi dan pencapaian yang amat baik dalam penjualan insurans hayat. Peserta Malaysia termasuk Presiden dan Naib Presiden LIAM. untuk menghadiri mesyuarat Majlis Insurans ASEAN (AIC) Ke-35 dari 7 hingga 9 Oktober 2009. YAMA diperkenalkan oleh AIC untuk menggalakkan pengurus muda dalam industri untuk menyumbang secara aktif dan mencapai kecemerlangan dalam bidang kerja mereka. yang ditubuhkan untuk memupuk hubungan erat dan kerjasama serantau antara syarikat insurans ASEAN. dengan sokongan AITRI dan AIC. Mesyuarat ini merupakan platform komunikasi yang berkesan untuk memudahkan pertukaran maklumat di kalangan peserta mengenai perkembangan terkini dalam pasaran masing-masing. Mesyuarat AIC diadakan setahun sekali di sebuah negara yang ditetapkan. Konvensyen ini telah mencatat rekod penyertaan paling ramai. Persidangan Insurans Pasifik Ke-24 2009 Sebagai tuan rumah sulung Persidangan Insurans Pasifik Ke-23 (PIC) 2007. Anugerah Pemimpin Agensi Bumiputera telah diberikan buat pertama kali sempena Konvensyen ini. Sebagai pemenang berganda sulung. Akhir sekali Encik Mark Saunders. Cik Ch’ng adalah warga Malaysia pertama yang memenangi anugerah berprestij ini. Bertemakan ‘Amalan Terbaik untuk Meningkatkan Keuntungan’ (Best Practices to Boost the Bottom Line). muncul sebagai Pemenang Anugerah 2009. Great Eastern Life Assurance (Malaysia) Berhad. Mesyuarat Majlis Insurans ASEAN Ke-35 Wakil persatuan insurans hayat dan insurans am dari negara ASEAN telah berkumpul di Vientiane. Anugerah ini mengiktiraf sumbangan pemimpin agensi dalam usaha mendidik individu menjadi profesional insurans hayat yang berjaya. AIC juga bekerjasama rapat dengan Pengawal Selia Insurans ASEAN untuk membincangkan isu bersama membabitkan industri insurans. Laos PDR. iaitu 514 peserta. Naib Presiden Kanan dan Timbalan Ketua Bahagian Kewangan dan Hal Ehwal Korporat. sumbangan dan dedikasi mereka dalam industri insurans di rantau ini.

Tanggungjawab Sosial Korporat Hari Insurans Hayat – ‘Derma Darah – Anugerah Anda untuk Kehidupan’ Selaras dengan usaha untuk memupuk masyarakat penyayang. Pada 4 Mei 2009. polisi endowmen dan polisi penyakit kritikal. LIAM menyertai beberapa rancangan bual bicara TV. Rencana yang telah tersiar ini boleh didapati di laman web LIAM. FOMCA) dan Encik Muhammad Sha’ani Abdullah. Encik Md Adnan juga menyertai program perniagaan RTM1 pada 24 Ogos 2009 untuk berkongsi pandangan beliau tentang bagaimana industri insurans hayat membantu pertumbuhan ekonomi secara umumnya semasa krisis ekonomi. Rencana mengenai bonus tunai dan tuntutan insurans hayat telah diterbitkan dalam buku kecil. Para penceramah termasuk Encik Robert Stein (Global Financial Services. LIAM telah menyumbang rencana mengenai pelbagai topik berkaitan insurans hayat untuk disiarkan dalam akhbar. Encik Jim Morris (Pacific Life Insurance Company) dan Encik Bill Toppeta (Metlife International). Ini diikuti kemunculannya dalam satu lagi program pengguna TV3 pada 1 Ogos 2009 dan 8 Ogos 2009. Mereka berkongsi maklumat dan petua yang berguna mengenai cara berbelanja dengan bijak. sambil mendidik mereka tentang cara berbelanja dengan bijak untuk membolehkan mereka mengamalkan gaya hidup sederhana dalam kegawatan ekonomi semasa. Encik Md Adnan Md Zain telah muncul dalam beberapa program TV untuk meningkatkan kesedaran pengguna terhadap insurans hayat. Kesedaran Insurans Temu ramah TV Sebagai sebahagian daripada usaha berterusan untuk meningkatkan kesedaran insurans. Penyelidikan Pengguna dan Pusat Sumber. Bengkel FOMCA LIAM. (Ketua Pegawai Eksekutif.Pasifik – Strategi Kejayaan bagi Syarikat Multinasional dan Domestik’ (Building a World Class Business in the Asia Pacific Region – Success Strategies for Multinational and Domestic Companies ) membariskan penceramah antarabangsa yang terkenal dan berpengalaman. Presiden LIAM juga telah ditemu ramah oleh TV9 pada 10 Disember 2009 tentang liberalisasi pasaran. Beliau juga memperkatakan tentang kehadiran dan minat syarikat asing terhadap industri insurans hayat tempatan. Encik Md Adnan muncul dalam program pengguna RTM1 untuk memperkatakan tentang industri insurans hayat Malaysia. pengurusan polisi insurans semasa krisis kewangan.my. Enam rencana baru telah disiarkan dalam akhbar Bahasa Mandarin antara Jun dan Julai 2009. Pusat Aduan Pengguna Kebangsaan merangkap Setiausaha Agung FOMCA).org. menganjurkan bengkel bertema ‘Perubahan Bermula dengan Saya’ (Change Begins with Me) pada 4 Jun 2009. Bengkel setengah hari ini dihadiri oleh kira-kira 40 wakil ahli-ahli LIAM. LIAM dan NAMLIFA bersama-sama menganjurkan kempen derma darah di seluruh negara selama seminggu dari Life Insurance Association of Malaysia 30 ANNUAL REPORT 2009 . Rencana Pendidikan LIAM Dalam usaha untuk mendidik orang ramai tentang manfaat insurans hayat. Rencana ini boleh didapati di laman web LIAM di www. untuk menerangkan tentang kepentingan dan kelebihan insurans hayat. Dr Thomas Kabisch (MEAG Munich). dengan kerjasama Gabungan Persatuan-Persatuan Pengguna-Pengguna Malaysia (FOMCA). telah juga disiarkan dalam ruangan ‘Underwriter’ sebuah akhbar Inggeris yang boleh dianggap baru. Rencana yang meliputi pelbagai subjek seperti insurans dan hak pengguna. Para penceramah terdiri daripada YBhg Datuk Paul Selva Raj. Ernst & Young). Encik Stephan Binder (McKinsey & Company).liam. Bengkel ini bertujuan untuk meningkatkan kesedaran pengguna. (Ketua Pegawai Eksekutif.

LIAM. untuk menggalakkan orang ramai menderma darah. Tetamu Kehormat ialah YB Dato’ Wira Chor Chee Heung. Lembaga Kawal Selia Insurans Kenya pula menjelaskan secara ringkas pelbagai perkembangan dalam industri insurans Kenya. LIAM. AMLA dan MITBA bertindak bersama sebagai pengerusi jawatankuasa. Jawatankuasa Penganjur juga menganjurkan peraduan menyanyi Idola Industri Insurans yang menawarkan hadiah wang tunai yang menarik. Makan malam tahunan ini dianjurkan bersama oleh Persatuan Penyelaras Kerugian Malaysia (AMLA). Menerusi gandingan usaha ahli-ahli LIAM dan ahli-ahli NAMLIFA. Tema kempen derma darah ialah ‘Derma Darah – Anugerah Anda untuk Kehidupan’. menarik kira-kira 87 pemain daripada industri. ANNUAL REPORT 2009 Life Insurance Association of Malaysia 31 . (Timbalan Menteri Kewangan). MII. Sosial Lawatan Lembaga Kawal Selia Insurans Kenya Perwakilan peringkat tinggi daripada Lembaga Kawal Selia Insurans Kenya diketuai oleh Pengerusinya. Kesemua lima finalis memberikan persembahan yang mendapat tepukan gemuruh pada malam itu. Persatuan Broker Insurans dan Takaful Malaysia (MITBA).LIAM Selain menganjurkan mesyuarat. Semua hasil kutipan daripada kejohanan ini didermakan kepada Rumah Hope. pusat-pusat derma darah telah disediakan di Petaling Jaya. 16 pusat derma darah telah disediakan di bandar-bandar besar di seluruh negara. Dalam pertemuan setengah hari itu. Kami mengharapkan kerjasama. Ipoh. PIAM dan MTA pada 27 Oktober 2009. Golf Amal NAMLIFA . Johor Bahru. Kota Bharu. Sibu dan Kota Kinabalu. PIAM dan MTA bertukar-tukar nota Kesimpulan Jawatankuasa Pengurusan ingin mengucapkan ribuan terima kasih kepada semua ahli atas sokongan dan kerjasama yang diberikan kepada Persatuan. Kuantan. Majlis itu telah diserikan oleh kehadiran YB Dato’ Zamani Abdul Ghani (Timbalan Gabenor BNM). Pulau Pinang. Kuala Terengganu. Melaka. penyertaan dan komitmen berterusan daripada ahli kami untuk membolehkan kami menyahut cabaran baru pada tahun yang akan datang. kempen derma darah ini berjaya menarik seramai 1. Encik Steve Omenge Mainda. Sempena makan malam tahun ini.26 Oktober 2009 hingga 1 November 2009 sempena Hari Insurans Hayat 2009. Makan Malam Tahunan Industri Insurans Malaysia Makan Malam Tahunan Industri Insurans Malaysia dianjurkan pada 4 Disember 2009 di Crowne Plaza Mutiara Kuala Lumpur. LIAM dan NAMLIFA juga bekerjasama dalam aktiviti sosial.017 penderma. Selain di Kuala Lumpur. Secara keseluruhan. Seramai 850 tetamu menghadiri jamuan makan malam ini. Seremban. Pertemuan itu adalah sebahagian daripada lawatan sambil belajar Lembaga Kawal Selia Insurans Kenya untuk mendalami industri insurans Malaysia. dan juga industri takaful. LIAM adalah penaja utama kejohanan ini. Seperti makan malam pada tahuntahun sebelumnya. Alor Setar. Seri Kembangan. yang diadakan pada 30 Oktober 2009 di Mines Resort and Golf Club. pelbagai hadiah cabutan bertuah telah disumbangkan oleh ahli-ahli industri ini. Kebanyakan mereka menggayakan pakaian hitam dan putih menurut tema ‘Malam Hitam dan Putih’. Golf Amal NAMLIFA . mengenai pertumbuhan dan pembangunan industri insurans hayat dan am. telah mengadakan pertemuan dengan wakil LIAM. Klang. LIAM. rumah untuk kanakkanak teraniaya dan terabai di Paramount Garden. MTA dan PIAM. Petaling Jaya.

4% in Q3 2009 (Q1 2009: -0.48 2.4% in Q3 (Q2: -2. The Malaysian economy is also expected to turn around in Q4 2009. Q2: 3. as compared to RM7. Total Premiums RM billion Individual .14 7. Major economies are expected to register positive growth in the fourth quarter.00% during the third quarter of 2009 to support economic activity amid abating inflation. This was mainly due to the high base effect arising from higher global food and energy prices in 2008 as well as slower increase in food prices in 2009.13 billion in 2008. arising from better commodity prices. as measured by new business total premiums.5% in Q2 2009. positive effect of stimulus packages as well as accommodative monetary policy. The growth was attributed to firm household disposable income.8%. the life insurance industry in Malaysia enjoyed a positive growth of 5. The decline in GDP in the third quarter was lower than in the first two quarters as the global economy recovered from the financial crisis.3% in Q3 2009 (Q2 2009: 1.5%).0%).39 2. The inflation rate as measured by changes in the Consumer Price Index (CPI) declined 2. real estate and business services as well as finance and insurance subsectors. Ministry of Finance) Malaysian Economy The Malaysian economy declined by 6. The services sector per for med strongly amidst the difficult economic environment and grew 3.7% Life Insurance Association of Malaysia 32 ANNUAL REPORT 2009 .3%). The growth in the sector was driven mainly by communication.53 billion. compared with 0.7% in 2009. Life Insurance Business New Business January – December 2009 Based on the data as at 5 March 2010. The ringgit appreciated 1.2%.6%).4% to RM3. With these developments. Growth is expected to be supported mainly by increased external demand.53 35.5% in Q3 2009.4%.8% in Q3 (Q2 2009: -11. the life insurance industry is expected to achieve a double-digit growth in 2010.4745 against the US dollar during the third quarter of 2009.13 3. as the greenback lost attractiveness as a safe haven currency following stronger signs of economic stabilization.2%.9% and 1. Domestic demand turned around to register positive growth of 0. Meanwhile the Producer Price Index (PPI) fell further by 10. (Source: Quarterly Update of the Malaysian Economy – 3rd Quarter 2008. Private consumption expanded at a faster pace of 1.4% and 2. Q2 2009: 1.9% (Q2: 4.2% respectively in the first three quarters of 2009. improved labour market conditions and strong stock market performance.50 2. attributed to the price declines in local and imported components at 14.2%.2%). largely underpinned by expansion in consumption activities. 3. 6.3%). supported by fiscal and monetary measures.5% in Q3 (Q1: 1.6% and 4. The finance and insurance sub-sector posted a growth rate of 3.Investment-linked Group TOTAL January to December 2008 2009 Growth 2.07 2.7% 5. supported by the faster pace of implementation of the stimulus packages.7% -16.P erformance of the Life Insurance Industry The overnight policy rate (OPR) remained unchanged at 2.9% respectively. The total new business premiums in 2009 was RM7.07 7. The construction sector also expanded strongly by 7. as measured by the GDP. The corresponding quarterly growth rates in 2008 were 7.5% -3.Traditional .

5%:37. traditional annual premium business added more than RM1 billion in-force premiums during the year.2 billion.004 1. Single premium Annualised Premiums RM million Individual .493 2. group insurance had a strong growth in year 2009 mainly due to the contribution from single premium business especially the yearly renewable term (YRT) business. The corresponding addition in investment-linked annual premium business was RM682 million.5% 37. For individual policies.201 3. For individual annual premium business.0% traditional policies although enjoyed a strong growth.1% as compared to a growth of 25. ANNUAL REPORT 2009 Life Insurance Association of Malaysia 33 .1% 25. annualised premiums for traditional policies continued to outpace investment-linked policies by growing at a strong 30. Meanwhile group insurance business suffered a small decline of 3.0 billion is much larger than the size of investment-linked business with annualised premiums of RM1. Traditional to investment-linked business mix as at 31 December 2009 was 62.5% as compared with 61.7% 38. the growth was not sufficient to make up for the decline in the sales of single premium investment-linked business.9% for investmentlinked.539 954 2.9% 28.0% 62.4%.1% for individual and group policies combined.3% 100. The unfavourable investment environment and uncertain economic conditions in the first quarter of 2009 dampened the consumer confidence and resulted in the slowdown in the sales of single premium investment-linked policies.3% a year earlier. the total premiums for in-force policies also grew strongly at 10. Investment-linked policies continued to lose popularity as observed since 2007.5% 100.The growth was mainly attributed to traditional individual policies which chalked up a 35. Annual premium investment-linked business with a smaller base enjoyed a stronger growth of 14.7% growth.204 2008 with annualised premiums of RM2. In absolute terms.5% 61. the size of traditional business In-Force Policies In line with the growth in new business. Individual traditional business enjoyed a strong growth due to the sales of traditional products in lieu of investment-linked products in times of uncertainties. In absolute terms. Meanwhile.7% in a tough business environment with the economy only starting to recover in the second half of the year.7% against the traditional annual premium business which grew at 10.Traditional . the growth came from annual premium policies while the single premium business saw a decline in in-force premiums due to unfavourable investment environment.Investment-linked TOTAL 1.7%:38. January to December 2009 Growth Mix (January to December) 2008 2009 30.

144.402.000 0 8.000.Single Premiums .7% -4.000.1% (Source: Life Insurance Association of Malaysia [LIAM]) Life Insurance Business (2004 .514 4.Single Premiums (Others) .115 12.037 1.In-Force RM million Individual .TOTAL TOTAL (Individual + Group) 2008 2009 Growth 10.000.365.010 10.446 5.723.337.000 0 1.Annualised Premiums .437 1.000.090 14.9% 9.Single Premiums (YRT) .000 0 10.TOTAL Group .0% 10.Single Premiums .303.757 1.727 2.Annualised Premiums .905 11.000.000 0 Units 6.000.314 776 6.371 N New Business 0 2004 2005 2006 Year 2007 2008 T Total Business in Force Source: Bank Negara Malaysia (Annual Insurance Statistics 2008) Life Insurance Association of Malaysia 34 ANNUAL REPORT 2009 .6% 11.984 13.345.842 11.Traditional .989 10.147 11.TOTAL Individual .286.Annualised Premiums .207 1.2008) Number of Policies 12.000 0 9.Investment-linked .632 814 5.1% 11.534.4% -2.000 0 1.909.6% 14.146 71 58 776 906 19.1% 62.525 10.874 1.1% 4.8% 63 36 695 795 18.771 10.

000 0 7.447.587.161.000 0 0 2004 11.233.701.877.2 2007 14.0 218.295.308.000 0 Annual Premiums (RM Million) 15.000 0 1.5 Total business In Force : Annual Premiums 16.1 2005 12.000 0 New Business 0 2004 2005 2006 Year 2007 2008 T Total Business in Force New Business : Total Premiums 8.538.156.000 0 100.000 0 400.000 0 12.7 2008 Source: Bank Negara Malaysia (Annual Insurance Statistics 2008) ANNUAL REPORT 2009 Life Insurance Association of Malaysia 35 .3 5.000 0 4.919.000 0 2.000 0 14.000 0 2.000 0 2.2 171.8 7.000 0 4.000 0 3.4 700.7 722.0 7.7 644.000 0 0 2004 2005 2006 Year 2007 2008 10.000 0 186.922.5 600.000 0 8.000 0 672.2 185.661.325.000 0 6.9 200.679.251.000 0 2006 Year 13.000 0 593.599.3 772.901.4 Total Premiums (RM Million) 7.000 0 181.1 6.000 0 Sums Insured (RM Million) 500.Sums Insured 800.1 300.053.066.8 6.

099.893.8 million Income 2007 (RM Million) 2008 (RM Million) Profit on sale of assets and miscellaneous income 4.6 (11.431.653.045.8%) % Maturity / Vesting 2.Benefit Payments 2007 (RM Million) Others 951.9 (8.7 (10.057.8 (9.6 (10.7 .1%) Net et investment income m 4.949.793.3 (12. (18.4 (9.7 (17.617.567.5%) Ma aturity / Vesting 2.736.410.5%) Total: RM28.6 (27.905.9%) Total: RM9.5 (16.5%) Others 813.8%) 2008 (RM Million) Deat and Disability Death a d Disab 951.5%) Surrender 2.1 (22.1%) .6 million Total: RM10.276.4%) Net investment income 4.3 Medical 1.2 (7 70.5 million Source: Bank Negara Malaysia (Annual Insurance Statistics 2008) Life Insurance Association of Malaysia 36 ANNUAL REPORT 2009 .4%) Cash Bonuses e 1.164.747.1 (14.012.3%) % Profit on sale of assets and miscellaneous income 3.9%) 5 Medical a 1.3 (8.3%) % S Surrender d 3.2 million Premium in ncome 18.4%) Cash Bonuses s 1.1%) Total: RM26.1 (27.6 (37.0 (6 66.741.6%) Premium income 18.9%) ) Death and Disability 816.

666.565.2 million) Mortgages Policy Others Total: RM109.2 Others 553.6%) ) Net polic benefits cy 9.7 11 770 7 Investment properties t 2.588.5 1 Malay ysia Government Others 1.212.653.8 Mortgages 4.559.9 Cash and deposits 13.1%) Assets of Life Insurance Funds 2007 (RM Million) Foreign assets 1.917.526.210.3 Mortgages 4.140.4 13 051 4 Investment m properties 3.997.6 (66.301.4 m ll on Agen remunerat 2.625.6 Policy 7.0 Cash and deposits 11.4 4 2008 (RM Million) Foreign assets 1.5 8 Others 1.2 Malays Government sia pp papers / guaranteed l loans 18.502.128.171.6%) Managemen expense 1.1 Property.2%) Total: RM14 588 4 million RM14.385.9 9 (17.0 (25.5 Other assets 1.Outgo (Expenditure) 2007 (RM Million) 2008 (RM Million) Management expenses 1.007.506.925.269.8 (6.1 Total: RM19.9 million INVESTMENTS (RM72.1% Agency remuneration 2.6 million INVESTMENTS (RM76.2 Total: RM102.7 m ll on cy benefits 8 (52.6 7 p p rs paper / guara anteed loans 17.8 Corporate / debt securities 53.362.6 6 Property.0 (9.770.4 Other assets 2.4 (8. plant and equipment 483.3 Policy 6.7%) ( ) Loss on disposal of assets and other outgo 4.8 Corporate / debt secu urities 56.986.680.5%) Loss on disposal of assets and other outgo 983.0 million) Mortgages Policy Others Source: Bank Negara Malaysia (Annual Insurance Statistics 2008) ANNUAL REPORT 2009 Life Insurance Association of Malaysia 37 .3 million) Malaysia Government papers / guaranteed loans Corporate / debt securities Others LOANS (RM12.051.613.713 (14.050.471.5 Others 577.470.7 million) Malaysia Government papers / guaranteed loans Corporate / debt securities Others LOANS (RM11.282. plant and equipment 496.

my American International Assurance Bhd Menara AIA 99 Jalan Ampang 50450 Kuala Lumpur Telephone No: 03-2056 1111 Fax No: 03-2056 2992 E-mail: corporate-ops.my Great Eastern Life Assurance (Malaysia) Berhad Menara Great Eastern 303.com. Wisma UOA II No. Jalan Pinang 50450 Kuala Lumpur Telephone No: 03-2162 3388 Fax No: 03-2162 6720 E-mail: partner@allianz. Tower C Dataran Maybank No.lifeisgreat. Malaysian Branch Suite 31-1. Jalan Ampang 50450 Kuala Lumpur Telephone No: 03-4259 8888 Fax No: 03-4259 8000 Email: wecare@lifeisgreat.com.com Etiqa Insurance Berhad Level 19.com.allianz.my AmLife Insurance Berhad Level 9.cimbaviva.my Allianz Life Insurance Malaysia Berhad Level 23 & 23A.com. Jalan Tuanku Abdul Rahman 50100 Kuala Lumpur Telephone No: 03-2612 3600 Fax No: 03 .my AXA AFFIN Life Insurance Berhad 8th Floor Chulan Tower 3 Jalan Conlay 50450 Kuala Lumpur Telephone No: 03-2117 6688 Fax No: 03-2117 3698 Email: customer. 21.my http://www.my http://www.2698 7035 Customer Careline: 1300-88-5055 Email: wecare@cimbaviva.my@aia. 1.my http://www.M embers of LIAM CIMB Aviva Assurance Berhad Level 11 No.com.com.amassurance.com http://www. 1 Jalan Lumut 50400 Kuala Lumpur Telephone No: 1300 88 8800 Fax No: 03-2171 3000 E-mail: amassurance-life@ambankgroup.hannoverlifere.my http://www.com Life Insurance Association of Malaysia 38 ANNUAL REPORT 2009 . 31st Floor Wisma UOA II No.com. 338.com. Bangunan AmAssurance No. Jalan Maarof 59000 Kuala Lumpur Telephone No: 03-2297 1888 Fax No: 03-2297 1800 Oneline Contact Centre: 1-300-13-8888 Email: info@etiqa.axa.com http://www.com http://www. Jalan Pinang 50450 Kuala Lumpur Telephone No: 03-2164 5122 Fax No: 03-2164 5129/03-2164 6029 http://www.care@axa-life.my Hannover Life Re.com. 21.aia.etiqa.com.

Jalan Gelenggang Damansara Heights 50490 Kuala Lumpur Telephone No: 03-2719 9228 Fax No: 03-2094 0573 http://www. Tower B.com.Asia 16 Jalan Tun Tan Siew Sin 50050 Kuala Lumpur Telephone No: 03-2687 2000 Fax No: 03-2031 4689 http://www. Tower C Dataran Maybank No.com.manulife.my Mayban Life Assurance Berhad Level 19.com. 1.prudential. Jalan Maarof 59000 Kuala Lumpur Telephone No: 03-2297 1888 Fax No: 03-2297 1800 Oneline Contact Centre: 1-300-13-8888 E-mail: info@etiqa.com. Menara Manulife 6.my Malaysian Life Reinsurance Group Berhad 3B/21-3 Block 3B Level 21. Plaza Sentral Jalan Stesen Sentral 5 Kuala Lumpur Sentral 50470 Kuala Lumpur Telephone No: 03-2780 6611 Fax No: 03-2780 6622 Email: info@mlre. Ground Floor Menara TM Asia Life 189.tmasialife.my http://www.mciszurich. Jalan Sultan Ismail 50250 Kuala Lumpur Telephone No: 03-2031 8228 Customer Service Tel: 03-2116 0228 Fax No: 03-2032 3939 E-mail: customer.my Malaysian Assurance Alliance Berhad 11th Floor. Menara MAA No.com.com.hla.mys@prudential.my Manulife Insurance Berhad 12th Floor. Jalan Dewan Bahasa 50460 Kuala Lumpur Telephone No: 03-2146 8000 Fax No: 03-2142 5863 http://www.ing.my http://www. Menara Prudential 10.my ING Insurance Berhad Menara ING 84 Jalan Raja Chulan P.com. PJ City Development No.maa. Bangunan Uni.com.my MCIS ZURICH Insurance Berhad Wisma MCIS ZURICH.com TM Asia Life Malaysia Bhd.my Prudential Assurance Malaysia Berhad Level 17. 12. Jalan Barat 46200 Petaling Jaya. 15A Jalan 219. Seksyen 51A 46100 Petaling Jaya.com.my http://www.com.O.uniasialife. Box 10846 50927 Kuala Lumpur Telephone No: 03-2058 4838 Fax No: 03-2161 0549 Toll Free: 1 800 88 0303 http://www.Hong Leong Assurance Berhad Level 3. Selangor Telephone No: 03-7650 1818 Fax No: 03-7650 1991 Customer Service Hotline: 03-7650 1288 Customer Service Hotfax: 03-7650 1299 http://www.my ANNUAL REPORT 2009 Life Insurance Association of Malaysia 39 .com.com.my http://www.my Uni.com.Asia Life Assurance Berhad 8th Floor.rgare. Jalan Tun Razak 50400 Kuala Lumpur Telephone No: 03-2059 6188 Fax No: 03-2162 8068 E-mail: customercare@tmasialife.etiqa. Selangor Telephone No: 03-7955 2577 Fax No: 03-7957 5964 E-mail: info@mciszurich.

Jalan Ipoh Kechil. 4043 4908 Designed and Printed by: SP-Muda Printing Sdn.Life Insurance Association of Malaysia ANNUAL REPORT50350 Kuala Lumpur. No. . 4041 0649. 4041 4734 Fax : 03-4041 6045. Bhd. Off Jalan Ipoh. 2009 40 Tel : 03-4041 4829. 41.

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