Liam Annual2009

P ontents
2 President’s Message
Members of the Management Committee

10 2009 – 2010
11 Management Committee 2009 – 2010
12 Committees and Working Committees 2009 – 2010
18 Report of the Management Committee
32 Performance of the Life Insurance Industry
38 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
P resident’s Message
Taking over as President of the Life Insurance These achievements would not have been
Association of Malaysia (LIAM) in March 2009, I possible without the support and confidence
prepared myself for the expected challenging from my fellow Chief Executive Officers. Their
tasks ahead. All my predecessors, as LIAM strong team spirit and wise counsel have
Presidents, had set remarkably high standards provided invaluable guidance in helping me
during their terms of office. Their numerous to chart the strategic direction of LIAM.
contributions to the insurance industry were
indeed matchless. It is now my privilege to report on the key
developments and activities of the life
The operating environment of the life insurance insurance industry in 2009.
industry has been subject to significant changes
due to new regulations which are moving Risk-Based Capital Framework
towards greater transparency and consumer
The Risk-Based Capital (RBC) framework came
protection. The Association has been kept busy
into effect on 1 January 2009 after two years of
with meetings and dialogues with regulators as
parallel run with the previous solvency regime.
well as consolidating the response from the
The new capital requirement provides greater
industry on possible impact to consumers,
flexibility for insurers to operate at different
intermediaries and stakeholders.
capital adequacy levels that commensurate
with their risk profiles. A new set of valuation rules
Despite these challenging conditions, I am
was also introduced to ensure that assets and
pleased to report that the Malaysian life
liabilities are valued in a realistic and market-
insurance industry has weathered through these
consistent manner.
difficult times, accomplishing many of the
objectives identified for the year.
Life Insurance Association of Malaysia ANNUAL REPORT 2009

2
In March 2009, Bank Negara Malaysia (BNM) interests of consumers must be emphasized in
introduced temporary flexibility for life insurers the development, marketing and sale of new
to base the discount rate used in RBC on products. To ensure that all life insurers
weighted basis to moderate the impact of subscribe to a minimum standard for the TCF
fluctuating interest rates. requirement, LIAM engaged an actuarial
consulting firm in December 2009 to develop
Guidelines on Bancassurance a best practice framework for the industry. The
framework would specify the necessary
The Guidelines on Bancassurance was further
information to be provided to the customers
revised in April 2009 in-line with the liberalization
during the sales process, after- sales and during
of the financial services sector. Insurers were
the policy exit process. This would include
allowed to enter into bancassurance
minimum standards of disclosures in the form
arrangements with any number of
of relevant, timely, reliable, consistent and
bancassurance partners. Previously, foreign
comparable information.
insurance companies were only allowed to tie
up with one local bank.
Budget 2010
To further enhance bancassurance as an a) Micro-Insurance
alternative distribution channel, the
In the Budget 2010, the Government unveiled
compensation package was revised to include
the plan to introduce a micro insurance scheme
an additional 5% production bonus and 10%
aimed at assisting low income small business
persistency bonus. Disclosure of commission,
owners in securing financial protection. It was
which was introduced for the bancassurance
announced that for a premium of RM20 per
channel in 2004, continued to be reinforced
month, coverage of between RM10,000 and
under the revised Guidelines.
RM20,000 could be granted. This was a positive
move as insurance protection could be
As at 31 December 2009, a total of 8,081
extended to a large majority of the population.
financial institution employees representing 17
financial institutions were registered with LIAM
LIAM had prepared a preliminary proposal for
as personnel who sell insurance under
the micro insurance scheme to be packaged
bancassurance arrangements.
with micro-financing offered by the banks. The
proposal would be discussed with various
Development of “Treat Customers Fairly stakeholders who include BNM, Persatuan
(TCF)” Framework Insurans Am Malaysia (PIAM) and Malaysian
Takaful Association (MTA).
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 b) Tax Relief for Annuity Plans
BNM. Under the new Guidelines on Introduction The Government had also increased the tax
of New Products for Insurance Companies and relief for EPF contribution and life insurance
Takaful Products, insurers are now allowed to premiums from RM6,000 to RM7,000. This
launch products without having to obtain additional RM1,000 was granted for annuity
BNM’s prior approval. However, the board and premiums of plans offered by insurance
senior management would now be entrusted companies.
with greater responsibility to ensure that product
risks are well managed and customers’ rights This incentive was most appropriate to support
are respected. the development of retirement schemes by life
insurance companies. Demographically, by the
Insurers are expected to develop a “Treat Your year 2020, Malaysia would have close to 10%
Customers Fairly (TCF)” policy where the of its population aged above 60 years. It is
ANNUAL REPORT 2009 Life Insurance Association of Malaysia

3
crucial to encourage Malaysians to start their Strategy Planning Meeting
financial planning early, to continue enjoying
As an association which has been empowered
a comfortable lifestyle in their golden years.
to chart the direction of the life insurance
industry, LIAM needs to constantly review its
LIAM would pursue with the on-going dialogues
strategic plans to remain vibrant and dynamic.
with regulators in promoting retirement planning
Towards this end, a series of brainstorming
to cater to the needs of the ageing population.
sessions were organized from December 2008
Future initiatives would include lobbying for the
to chart the growth and development of the
removal of income tax on the investment
life insurance industry.
income of the annuity funds and increasing the
amount of tax relief from RM1,000 to a higher
The key drivers that will map out the blueprint
level.
of the industry from 2010 to 2015 are:
• To increase the percentage of insured
Guidelines on Product Transparency population;
and Disclosure • To further strengthen the influence of LIAM
Under a liberalized operating environment, in the consultative process with regulators
there would be a greater need for transparency with the view to establishing a conducive
and disclosure. After a series of consultations business environment;
with BNM, the Guidelines on Product • To increase the level of transparency and
Transparency and Disclosure came into effect disclosure to consumers by establishing a
on 1 January 2010. best practice framework on treating
customers fairly;
The requirements were geared towards • To promote consumer awareness via media
promoting consumer awareness and publications, education programmes,
understanding of the various financial products career opportunities and awareness talks;
and services. Information would now be • To raise the professionalism of life insurance
presented in a standard product disclosure intermediaries by increasing the training
sheet to enable consumers to make requirements and production standards for
comparison with the different types of products promotion and maintenance of agency
and minimize any form of mis-selling by contracts;
intermediaries. • To foster a closer working relationship with
regulators and consumer bodies to improve
Full commission disclosure would be introduced consumers’ understanding and
for investment-linked insurance with effect from appreciation of life insurance and its
April 2010 while commission disclosure for benefits;
traditional products is planned to take effect in • To strengthen the self-regulatory functions of
June 2011. the Association through a review of internal
structure and processes.
In line with the new operating environment,
LIAM has also put forward a proposal to BNM Over the next few years, LIAM will continue its
to liberalise the current limits on operating cost efforts to raise the professionalism of the life
control. Under the current compensation insurance industry and increase the
package, the commission for each of the policy percentage of insured population. A
years has been fixed across all companies. With continuous engagement process would be
the move for commission disclosure, a more initiated with the regulators to develop a
liberalized framework will further encourage conducive business environment which would
competition and improvements in products facilitate the life insurance industry to be a key
and services. player in the financial services sector.

4
Joint Insurance-Takaful Council demonstrated a unified spirit in responding to
With the move to a principle-based regime, BNM the A(H1N1) calamity that hit Malaysia in 2009.
will continue with its liberalization efforts of the In August 2009, we issued a press statement to
insurance and takaful industry. In responding to confirm that all life insurance companies would
a need for harmonization of regulations and honour all medical and hospitalization claims
enhanced market discipline, LIAM, PIAM and arising from A(H1N1). Even though a majority
MTA, in consultation with BNM are forming a Joint of the medical plans contain exclusions on
Insurance and Takaful Council (JITC). communicable diseases requiring quarantine,
all our Members have agreed to waive this
The scope of JITC includes promoting condition in processing their claims.
consistency in rules, regulations and guidelines
of the three sectors and resolving inter sector Acknowledgement
complaints or disputes amicably. The JITC would
Having just concluded another hectic year, we
comprise nine members, two from each
are certain more challenges are forthcoming
association and three independent members
as we embark on LIAM’s 2010 – 2015 Strategic
nominated by the respective associations.
Plan. The continuous support and cooperation
from our Members is highly appreciated.
To ensure that the JITC is accorded with the
highest level of independence, the Chairman
In this regard, I would like to take this opportunity
of the JITC would be appointed from amongst
to thank all LIAM members for the support and
the independent members.
trust in me to lead the Association. I would also
like to thank my fellow colleagues and
LIAM Disciplinary Procedures counterparts on the Management Committee
In an effort to improve our current self-regulatory and the various Working Committees for the
efforts, the Association has undertaken a review valuable contribution in terms of time,
of the disciplinary procedures outlined in the knowledge, expertise and experience that
Constitution. Under this review, the Disciplinary have helped LIAM to implement many of its
Committee (DC) would be empowered to activities and to fulfill its obligations successfully.
investigate, hold an inquiry and to decide on
the disciplinary action in the case of a breach I also wish to place on record my appreciation
of the Association’s guidelines. to the offices of BNM, Ministry of Finance,
Treasury, Ministry of Health, Employees Provident
Prior to this review, a complaint lodged with Fund and other government bodies for the
LIAM would have to go through many levels via guidance, advice and cooperation given to
the Committee of Inquiry and Management LIAM.
Committee before a final decision is made.
Last but not least, my appreciation to the
To maintain the impartiality of the DC, the Secretariat staff for their hard work and
appointment of the Chairman would be based dedication in carrying out their duties to ensure
on a rotation basis. the smooth operations of the Secretariat.
LIAM Responds to Influenza A(H1N1)

Md Adnan Md Zain
I wish to express my gratitude to all the 18 President
member companies of LIAM who have

5
P erutusan Presiden
Selepas mengambil alih jawatan Presiden kaedah kesolvenan terdahulu. Keperluan
Persatuan Insurans Hayat Malaysia (LIAM) modal baru ini memberikan tahap fleksibiliti
pada bulan Mac 2009, saya telah lebih tinggi kepada penanggung insurans untuk
mempersiapkan diri untuk memikul tugas- beroperasi pada tahap kecukupan modal
tugas yang mencabar. Presiden-presiden LIAM berbeza, yang sesuai dengan profil risiko
terdahulu, telah menetapkan piawaian yang mereka. Satu set peraturan penilaian baru juga
sangat tinggi sepanjang tempoh mereka diperkenalkan untuk memastikan bahawa aset
memegang jawatan. Sumbangan besar dan liabiliti dinilai secara realistik dan konsisten
mereka kepada industri insurans ternyata sukar dengan pasaran.
ditandingi.
Pada Mac 2009, BNM memberikan
Operasi industri insurans hayat telah mengalami kelonggaran sementara kepada syarikat
perubahan besar berikutan peraturan baru insurans hayat untuk menetapkan kadar
yang diperkenalkan untuk memberikan tahap faedah yang digunakan dalam RBC secara
ketelusan dan perlindungan yang lebih tinggi wajaran untuk mengurangkan kesan kadar
kepada pengguna. LIAM telah mengadakan faedah yang turun naik.
mesyuarat dan dialog dengan pihak berkuasa
dan memberikan pandangan industri tentang
kesan yang mungkin dihadapi oleh pengguna, Garis Panduan Bankasurans
pengantara dan pihak berkepentingan. Garis Panduan mengenai Bankasurans
disemak semula pada April 2009, sejajar
Walaupun menghadapi keadaan yang dengan liberalisasi sektor kewangan.
mencabar, saya bangga melaporkan industri Penanggung Insurans dibenarkan untuk
hayat tempatan berjaya mengharungi membuat pengaturan bankasurans dengan
kesukaran ini dan telah mencapai objektif seberapa banyak rakan niaga bankasurans.
tahunan yang telah ditetapkan. Sebelum ini, syarikat insurans asing hanya
dibenarkan bekerjasama dengan satu bank
Kejayaan ini tidak mungkin dicapai tanpa tempatan.
sokongan dan keyakinan daripada Ketua
Pegawai Eksekutif ahli-ahli LIAM. Semangat Untuk menambah baik bankasurans sebagai
berpasukan yang kukuh dan nasihat berharga saluran pengedaran alternatif, pakej
mereka telah saya jadikan panduan yang pampasan telah disemak semula untuk
berguna dalam membantu saya menetapkan menyediakan bonus prestasi 5% dan bonus
hala tuju strategik LIAM. ketegaran polisi 10%. Pendedahan komisen,
yang diperkenalkan bagi saluran bankasurans
Saya berbesar hati untuk melaporkan pada 2004, terus diperkukuh di bawah Garis
perkembangan dan kegiatan penting industri Panduan yang disemak.
insurans hayat pada 2009.
Pada 31 Disember 2009, sejumlah 8,081
kakitangan institusi kewangan, yang mewakili
Rangka Kerja Modal Berasaskan Risiko 17 institusi kewangan, telah berdaftar
Rangka Kerja Modal Berasaskan Risiko (RBC) dengan LIAM sebagai kakitangan yang
berkuatkuasa pada 1 Januari 2009 selepas dua menjual insurans di bawah pengaturan
tahun dilaksanakan secara selari dengan bankasurans.

6
Pelaksanaan Rangka Kerja “Layan Langkah positif ini membolehkan perlindungan
Pelanggan Dengan Adil (TCF)” insurans dilanjutkan kepada sebahagian besar
masyarakat.
Berkuatkuasa 1 Julai 2009, BNM telah
meliberalisasikan peraturan mengenai
LIAM telah menyediakan cadangan awal bagi
kelulusan produk dan mengenepikan syarat
skim insurans mikro untuk digabungkan dengan
untuk memfailkan produk dengan BNM 30 hari
tawaran pembiayaan mikro oleh bank.
sebelum produk diperkenalkan. Di bawah
Cadangan tersebut akan dibincangkan oleh
Garis Panduan Pengenalan Produk Baru bagi
pelbagai pihak berkepentingan termasuk BNM,
Syarikat Insurans dan Produk Takaful yang
Persatuan Insurans Am Malaysia (PIAM) dan
terkini, syarikat insurans kini dibenarkan
Persatuan Takaful Malaysia (MTA).
melancarkan produk tanpa mendapatkan
kelulusan BNM terlebih dahulu. Bagaimanapun,
b) Pelepasan Cukai bagi Pelan Anuiti
lembaga pengarah dan pengurusan kanan kini
diamanahkan dengan tanggungjawab yang Kerajaan juga telah meningkatkan pelepasan
lebih besar untuk memastikan risiko produk cukai bagi caruman KWSP dan premium
diuruskan dengan baik dan hak pelanggan insurans hayat daripada RM6,000 kepada
dihormati. RM7,000. Tambahan RM1,000 ini diberikan untuk
premium pelan anuiti yang ditawarkan oleh
Penanggung insurans dikehendaki menggubal syarikat insurans.
dasar ”Layan Pelanggan Anda Dengan Adil
(TCF)” di mana kepentingan pengguna mesti Insentif ini amat sesuai untuk menyokong
diutamakan dalam pembangunan, perkembangan skim persaraan oleh syarikat
pemasaran dan penjualan produk baru. Untuk insurans hayat. Dari sudut demografi, hampir
memastikan bahawa semua penanggung 10% daripada penduduk Malaysia akan berusia
insurans memenuhi piawaian TCF minimum, 60 tahun ke atas menjelang 2020. Rakyat
LIAM melantik sebuah firma perunding aktuari Malaysia harus digalakkan untuk merancang
pada Disember 2009 untuk menyusun rangka kewangan mereka sejak dari awal lagi, supaya
kerja amalan terbaik bagi industri. Rangka kerja mereka dapat menikmati gaya hidup yang
ini akan mengkhususkan maklumat yang perlu selesa pada usia emas kelak.
diberikan kepada pelanggan sepanjang
proses jualan, selepas jualan dan semasa polisi LIAM akan terus berdialog dengan pihak
tamat. Ini termasuk tahap pendedahan berkuasa untuk menggalakkan perancangan
minimum dalam bentuk maklumat yang persaraan bagi memenuhi keperluan
berkaitan, tepat pada masanya, boleh penduduk yang semakin lanjut usia. Inisiatif
dipercayai, konsisten dan boleh dibandingkan. masa depan yang bakal dilaksanakan
termasuk melobi bagi memansuhkan cukai
pendapatan ke atas pendapatan pelaburan
dana anuiti dan meningkatkan jumlah
Bajet 2010
pelepasan cukai daripada RM1,000 kepada
a) Insurans Mikro kadar yang lebih tinggi.
Dalam Bajet 2010, kerajaan telah
mengumumkan rancangan untuk Garis Panduan Ketelusan dan Pendedahan
memperkenalkan skim insurans mikro yang Produk
bertujuan membantu pemilik perniagaan Dalam persekitaran operasi yang lebih liberal,
berpendapatan rendah untuk mendapatkan tahap ketelusan dan pendedahan yang lebih
perlindungan kewangan. Kerajaan tinggi diperlukan. Selepas satu siri rundingan
mengumumkan bahawa dengan premium dengan BNM, Garis Panduan Ketelusan dan
hanya RM20 sebulan, perlindungan antara Pendedahan Produk mula berkuatkuasa pada
RM10,000 hingga RM20,000 boleh diberikan. 1 Januari 2010.

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

8
atau pertikaian antara sektor dengan cara yang memerlukan kuarantin, semua ahli telah
terbaik. JITC akan terdiri daripada sembilan ahli, bersetuju menepikan syarat ini dalam
dua daripada setiap persatuan dan tiga ahli memproses tuntutan mereka.
berkecuali yang dicalonkan oleh persatuan
masing-masing.
Penghargaan
Untuk memastikan JITC diberikan tahap Dengan berakhirnya satu lagi tahun yang sibuk
kebebasan tertinggi, Pengerusi JITC akan dan padat, kami pasti bahawa cabaran yang
dilantik di kalangan anggota berkecuali. lebih hebat bakal mendatang dalam usaha
melaksanakan pelan strategik LIAM bagi 2010
- 2015. Sokongan berterusan dan kerjasama
Prosedur Disiplin LIAM daripada semua ahli amat dihargai.
Dalam usaha meningkatkan kawal selia sendiri,
LIAM telah menyemak semula prosedur disiplin Dalam pada itu, saya ingin mengucapkan
yang digariskan di bawah Perlembagaan. Di ribuan terima kasih kepada semua ahli LIAM
bawah penilaian semula ini, Jawatankuasa atas sokongan dan kepercayaan yang
Disiplin (JD) akan diberi kuasa untuk menyiasat, diberikan kepada saya untuk memegang
mengadakan sesi soal jawab dan menentukan tampuk pimpinan Persatuan. Saya juga ingin
tindakan disiplin sekiranya garis panduan mengucapkan terima kasih kepada rakan
Persatuan tidak dipatuhi. sekerja dan ahli Jawatankuasa Pengurusan
dan pelbagai Jawatankuasa Kerja kerana
Sebelum ini, aduan yang dikemukakan kepada sumbangan mereka dari segi masa, ilmu
LIAM perlu melalui pelbagai peringkat, iaitu pengetahuan, kepakaran dan pengalaman
melalui Jawatankuasa Siasatan dan Jawatan yang banyak membantu LIAM melaksanakan
Pengurusan sebelum keputusan akhir dibuat. kegiatan dan memenuhi kewajipan dengan
jayanya.
Untuk memastikan keberkecualian JD,
perlantikan Pengerusi akan dibuat secara Saya juga ingin merakamkan setinggi-tinggi
bergilir. penghargaan kepada BNM, Kementerian
Kewangan, Perbendaharaan, Kementerian
Kesihatan, KWSP dan badan kerajaan lain atas
LIAM Menangani Isu Influenza A(H1N1)
panduan, nasihat dan kerjasama yang
Saya ingin merakamkan setinggi-tinggi diberikan kepada LIAM.
penghargaan kepada kesemua 18 ahli LIAM
yang bersatu padu menangani isu wabak Akhir sekali, saya juga ingin merakamkan
A(H1N1) yang melanda Malaysia pada 2009. penghargaan kepada kakitangan sekretariat
Pada Ogos 2009, kami mengeluarkan kerana kerja keras dan dedikasi mereka dalam
kenyataan akhbar untuk mengesahkan menjalankan tugas mereka untuk memastikan
bahawa semua syarikat insurans hayat akan urus setia beroperasi dengan lancar.
membayar semua tuntutan perubatan dan
kemasukan hospital akibat A(H1N1). Walaupun
majoriti pelan perubatan mengandungi Md Adnan Md Zain
pengecualian terhadap penyakit berjangkit Presiden

9
M embers of the Management Committee 2009 - 2010
Seated (from left) : Encik Md Adnan Md Zain, Mr Ooi Say Teng, Mr Koh Yaw Hui and
YBhg Dato’ Dr Nirmala Menon.
Standing (from left) : Ms Nancy Tan, Encik Muhamad Umar Swift, Mr Kevin Jones,
Mr Khor Hock Seng, Encik Mohd Din Merican and Mr Ng Lian Lu.

10
M anagement Committee 2009 - 2010
President
Encik Md Adnan Md Zain
MCIS ZURICH Insurance Berhad
Vice-President
Mr Ooi Say Teng
Uni.Asia Life Assurance Berhad
Members
AmLife Insurance Berhad ING Insurance Berhad
Main Representative : Mr Ng Lian Lu 5Main Representative : YBhg Dato’ Dr Nirmala
Alternate : Mr Patrick Cheah Gim Guan Menon
Alternate : Mr Clement Heng Alternate : Ms Anusha Thavarajah
American International Assurance Bhd Malaysian Assurance Alliance Berhad
Main Representative : Mr Khor Hock Seng Main Representative : Encik Muhamad Umar Swift
Alternate : Ms Veronica Selvanayagy Alternate : Mr John Leong Choon Wai
Alternate : Mr J. J. Lee Alternate : Ms Serena Thio Hui Ming
CIMB Aviva Assurance Berhad MCIS ZURICH Insurance Berhad
Main Representative : Mr Kevin Jones Main Representative : Encik Md Adnan Md Zain

Alternate : Ms Caroline Tee Alternate : Mr C. Kumaran
Alternate : Mr Andy Buddell Alternate : Ms Kang Yu Fen
Etiqa Insurance Berhad Uni.Asia Life Assurance Berhad
Main Representative : Encik Mohd Din Merican Main Representative : Mr Ooi Say Teng
Alternate : Puan Nora Ishak Alternate : Mr Ho Teck Seng
Alternate : Mr Raymond Lai You Kim
Great Eastern Life Assurance (Malaysia) Berhad

*As at 31 December 2009.
Main Representative : Mr Koh Yaw Hui
Alternate : Mr Bruce Lee Yee Lam

11
C ommittees & Working Committees 2009 - 2010
Administration & Finance Committee Ms Lam Rose Sei
American International Assurance Bhd
Chairman
Mr Ooi Say Teng Ms Serrina Foo
Uni.Asia Life Assurance Berhad AXA AFFIN Life Insurance Berhad
Members Ms Caroline Tee

Puan Aziah Abdul Aziz CIMB Aviva Assurance Berhad
AmLife Insurance Berhad
Mr Chan Chee Wei
Ms Veronica Selvanayagy
Ms Khoo Ai Lin
Hong Leong Assurance Berhad
Mr Bruce Lee
Great Eastern Life Assurance (Malaysia) Berhad Mr Ng Ah Bah
ING Insurance Berhad
Mr Rohan Kananathan
Hannover Life Re, Malaysian Branch Mr Daniel Han
Malaysian Assurance Alliance Berhad
Ms Tan LiLing
Hong Leong Assurance Berhad Ms Yap Suat Yen
Manulife Insurance Berhad
Ms Anusha Thavarajah
ING Insurance Berhad Puan Norlia Mat Yusof
Mayban Life Assurance Berhad
Mr Yang Chin Lee
Malaysian Assurance Alliance Bhd Mr Abishek Bhatia
Prudential Assurance Malaysia Berhad
Ms Shirl Chen Ooi Wai
TM Asia Life Malaysia Bhd Mr Gan Teong Kiat
TM Asia Life Malaysia Bhd
Bancassurance Committee Mr Raymond Lew Yung Chow

Chairman
Mr Kevin Jones
Distribution System Committee
CIMB Aviva Assurance Berhad
Chairman
Members Mr Khor Hock Seng
Mr Ngu Kee Keong American International Assurance Bhd
Allianz Life Insurance Malaysia Berhad
Members
Encik Firozdin Abdul Wahab Ms Hei Kim Yin
AmLife Insurance Berhad Allianz Life Insurance Malaysia Berhad

12
Encik Mohd Aszemi Ibrahim Ms Marilyn Loo Sin Kooi
AmLife Insurance Berhad American International Assurance Bhd
Mr Chuah Chin Seong Ms Kang Poh Lee

American International Assurance Bhd AXA AFFIN Life Insurance Berhad
Ms Caroline Tee Mr Andy Ng

CIMB Aviva Assurance Berhad Great Eastern Life Assurance (Malaysia) Berhad
Mr Song Hock Wan Mr Ho Ming Kee

Great Eastern Life Assurance (Malaysia) Berhad ING Insurance Berhad
Ms Loh Guat Lan Mr Woo Man Loong

Hong Leong Assurance Berhad Malaysian Assurance Alliance Berhad
Ms Rosalind Yu Chwee Kum Mr Joseph Anthony Illingworth

ING Insurance Berhad Manulife Insurance Berhad
Encik Wan Mohd Kamil bin Wan Jaafar Mr Tan Choon Hock
Etiqa Insurance Berhad Prudential Assurance Malaysia Berhad
Mr John Leong Choon Wai Mr Albert Khor

Malaysian Assurance Alliance Berhad TM Asia Life Malaysia Bhd
Mr Jeffrie Teh Cheng Keat Mr Pakea Nathan a/l Chelliah

Manulife Insurance Berhad Uni.Asia Life Assurance Berhad
Mr C. Kumaran
MCIS ZURICH Insurance Berhad Industry Promotion Committee
Chairman
Mr William Oh Peng Wey
Encik Muhamad Umar Swift
Mr Jacky Chan Pen Lon
Uni.Asia Life Assurance Berhad Members
Ms Mala Patmarajah
Education & Examination Committee
Chairman Ms Tricia Loh
Mr Koh Yaw Hui
Great Eastern Life Assurance (Malaysia) Berhad Ms Ivy Edmeates
Members
Ms Ang Siew Gaik Ms Vivienne Beh
Allianz Life Insurance Malaysia Berhad Etiqa Insurance Berhad
Encik Azlanshah Mohamed Yusof Ms Yeo I-Peng

AmLife Insurance Berhad Etiqa Insurance Berhad

13
Ms Jenny Leong (w.e.f. October 2009) Ms Lee Poh Cheong
Great Eastern Life Assurance (Malaysia) Berhad American International Assurance Bhd
Ms Leong Pei Yee Ms Ho Swee Ying

Great Eastern Life Assurance (Malaysia) Berhad AXA Affin Life Insurance Berhad
Mr Ravinder Singh Mr Steven Chow

Hannover Life Re, Malaysian Branch CIMB Aviva Assurance Berhad
Ms Geraldine Wong Mr Richard Lin

ING Insurance Berhad Great Eastern Life Assurance (Malaysia) Berhad
Puan Haslina Hamidan Ms Joanne Marie Lopez

ING Insurance Berhad Hong Leong Assurance Berhad
Mr Daniel Han Mr Mark Wang

Malaysian Assurance Alliance Berhad ING Insurance Berhad
Puan Roziana Mohd Yatim Mr Danny Choong Yick Kheong

Malaysian Assurance Alliance Berhad Malaysian Assurance Alliance Berhad
Puan Norliza Alias Mr Yeow Kok Kien

Malaysian Life Reinsurance Group Berhad Manulife Insurance Berhad
Ms Susan Ong Mr Yoon Mun Thim

Manulife Insurance Berhad Prudential Assurance Malaysia Berhad
Mr Wilson Tang Mr Tan Sze Teck

Manulife Insurance Berhad TM Asia Life Malaysia Bhd
Encik Rizal Fadil (until September 2009) Mr Geoff Aw

MCIS ZURICH Insurance Berhad Uni.Asia Life Assurance Berhad
Ms Tiffany Tan
TM Asia Life Malaysia Bhd Life Operations/IT Committee
Chairman
Investment Committee Encik Mohd Din Merican

Etiqa Insurance Berhad
Chairman
Mr Ng Lian Lu Members
Ms Lim Li Meng
Members
Ms Esther Ong Chen Woon Puan Azllynah Bakar
Allianz Life Insurance Malaysia Berhad AmLife Insurance Berhad
Ms Philomena Jan Mr Henry Tham

AmLife Insurance Berhad American International Assurance Bhd

14
Ms Frances Gomes Mr Alan Goon
AXA AFFIN Life Insurance Berhad ING Insurance Berhad
Mr Christopher Woon Mr Ooi Sze Chuan

Great Eastern Life Assurance (Malaysia) Berhad Manulife Insurance Berhad
Mr Chris Cheong Mr K’ng Tuan Kah

Hong Leong Assurance Berhad MCIS ZURICH Insurance Berhad
Mr Jimmy Wong Ms Wong Kim Hoe

Mr Goh Kim Lai

Madam Lee Fooi Ming
Mr William Ng Cheng Chuan

Product Services & Technical Committee
Chairman
Mr Daryl Ong Mr Ng Lian Lu
Etiqa Insurance Berhad AmLife Insurance Berhad
Mr Lee Goon Hong Members

Mr Chin Tze How
Mr Lim Poh Yeow
Mr Patrick Cheah
IT SECTION Mr Adit Trivedi

Members American International Assurance Bhd
Mr Dave Giam Hock Hai Mr Steven Visvalingam

Allianz Life Insurance Malaysia Berhad AXA AFFIN Life Insurance Berhad
Mr Cheah Swee Chong Encik Yahya Adnan Ahmad

AmLife Insurance Berhad CIMB Aviva Assurance Berhad
Mr Dang Kok Heng Mr Lok Hoe San

American International Assurance Bhd Etiqa Insurance Berhad
Mr Chan Yuet Wah Mr Yap Chee Keong

AXA AFFIN Life Insurance Berhad Great Eastern Life Assurance (Malaysia) Berhad
Ms Melissa Low Kim Boey Ms Sophia Ch’ng

Etiqa Insurance Berhad Great Eastern Life Assurance (Malaysia) Berhad
Mr Lee Pooi Hor Mr Seow Fan Chong

Great Eastern Life Assurance (Malaysia) Berhad Hong Leong Assurance Berhad

15
Mr Pranil Sharma Members
Hannover Life Re, Malaysian Branch
Ms Chin Yien Ping
Mr Loke Chang Yueh
Ms Ng Cheng Man
Ms Serena Thio
Mr Edward Kong
AXA AFFIN Life Insurance Berhad
Mr Leo Ng
Ms Fiona Kuok / Ms Pauline Siew
Ms Kang Yu Fen CIMB Aviva Assurance Berhad
MCIS ZURICH Insurance Berhad
Mr Mah Poon Keong
Mr Ong Kheng Heng Great Eastern Life Assurance (Malaysia) Berhad
Ms Wong Sui Ying
Mr Khoo Poh Beng Etiqa Insurance Berhad
Mr Mooi Kin Seng
Mr Raymond Lai ING Insurance Berhad
Mr Lee Kok Wah
Hong Leong Assurance Berhad
Regulation/Enforcement (Disciplinary)
Committee
Mr Tang Loon Koon
Chairman Manulife Insurance Berhad
YBhg Dato’ Dr Nirmala Menon
ING Insurance Berhad Ms Wong Fong Leng
Members
Mr Khor Hock Seng Ms Shirl Chen Ooi Wai
American International Assurance Bhd TM Asia Life Malaysia Bhd
Mr Ng Lian Lu Mr Ho Teck Seng

AmLife Insurance Berhad Uni.Asia Life Assurance Berhad
Encik Mohd Din Merican

Etiqa Insurance Berhad Takaful Committee
Encik Muhamad Umar Swift Chairman
Malaysian Assurance Alliance Berhad YBhg Dato’ Dr Nirmala Menon
Taxation Committee
Chairman Members
Mr Ng Lian Lu Mr Laurent Haw Kok Foong
AmLife Insurance Berhad Allianz Life Insurance Malaysia Berhad

16
Mr Clement Heng Eak Yak Mr Ravinder Singh
AmLife Insurance Berhad Hannover Life Re, Malaysian Branch
Mr Lee Jiau Jiunn Mr Woo Man Loong

American International Assurance Bhd Malaysian Assurance Alliance Berhad
Encik Muhammad Fikri Mohammad Rawi Ms Susan Ong

CIMB Aviva Assurance Berhad Manulife Insurance Berhad
Puan Nora Ishak

*As at 31 December 2009.
Puan Norizan Yahya

17
R eport of the Management Committee
Being the representative body of life insurance taken into account, facilitating further fine
companies, LIAM has been entrusted with the tuning of the model financial statements.
responsibility to position the industry as a strong
and influential self-regulatory body. During the
Common Wordings for Critical Illness (CI)
year under review, we have undertaken a wide
range of projects and assignments and this has In response to the advancement in medical
been made possible through the commitment science and new diagnostics methods, LIAM
and dedication of our committee and task undertook a review of the definition for critical
force representatives. Listed below were illnesses (CI) and completed the exercise in
highlights of the major activities and key issues November 2009. The review was done by a Task
dealt with by LIAM: Force comprising medical practitioners,
actuaries and claims personnel of member
companies. A comparative study was also
International Financial Reporting
initiated by the Task Force to evaluate the
Standards (IFRS)
developments of CI insurance in a number of
The Malaysian authorities are committed developed markets. The revised definitions are
towards full convergence with International expected to replace the current standard
Financial Reporting Standards by January 2010. wordings used by all life insurance companies
LIAM has actively participated in the various since 2002.
working groups set up by the Malaysian
Accounting Standards Board (MASB) in
Human Capital Development Initiatives
reviewing and drafting accounting standards
impacting the insurance industry. In 2009, LIAM Formed in November 2008, the Asian Institute
contributed to the consultation process of Finance (AIF) was a joint initiative by Bank
facilitated by MASB on the following accounting Negara Malaysia (BNM) and the Securities
standards, exposure drafts and discussion Commission Malaysia, aiming to enhance
papers: human capital development initiatives for the
financial services sector. This would be
1. IASB ED/2009/3: Derecognition (proposed achieved through strengthened institutional
amendments to IAS 39 and IFRS 7); arrangements for collaboration between AIF
2. IASB DP/2009/2: Credit Risk in Liability and the four training institutions, Institut Bank-
Measurement; Bank Malaysia (IBBM), Islamic Banking and
3. IASB ED/2009/12: Financial Instruments: Finance Institute Malaysia (IBFIM), the Malaysian
Amortised Cost and Impairment; and Insurance Institute (MII) and Securities Industry
4. MASB ED 69: Proposal to replace the Development Corporation (SIDC).
requirements on the classification and
measurement of financial assets in FRS 139. For the insurance industry, a budget of RM44.8
million had been approved for the up-scaling
LIAM was also invited into the Working initiatives of the MII. The cost would be co-
Committee set up by the Malaysian Institute of funded by the insurance companies i.e. based
Certified Public Accountants (MICPA) to on 1% of staff salaries and a matching grant by
develop revised model financial statements for BNM. For the first phase of this project, some
the insurance industry. Since then, an exposure RM22.5 million had already been allocated. The
draft of the model financial statements had up-scaling of MII initiatives encompassed
been issued. Relevant feedback obtained was curriculum and programme enhancements,

18
web-based learning systems, IT infrastructure, Association (MTA), the workshop was attended
knowledge and resource up-scaling, research by some 64 participants comprising mainly
and publications and faculty enhancement heads and senior personnel from the human
and expansion. resource divisions.
Financial Sector Talent Enrichment Malaysian Financial Planning Council

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

19
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
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, 21 December 2009
travel. The first meeting of
the Advisory Committee of
Healthcare Travel Council (MHTC) formed MHTC was held on 15 December 2009.
under the Malaysian Ministry of Health.
National Association of Malaysian Life
The MHTC was officially launched by the Insurance and Financial Advisors
Malaysian Prime Minister on 21 December 2009. (NAMLIFA)
The main objective of MHTC is to promote and
develop the health tourism industry towards LIAM enjoys a cordial working relationship with
establishing Malaysia as the healthcare NAMLIFA and our collaborative efforts have
destination of choice in this region. culminated into many successful ventures.
NAMLIFA 31st Mega Convention, 11 August 2009

20
Conference/Seminar
PIS Insurance Agency
Seminar
Mr Ng Lian Lu, LIAM
Immediate Past President,
was one of the speakers at
the Pertubuhan Insurans
Sarawak (PIS) inaugural
Insurance Agency Seminar
held in Kuching, Sarawak on
10 March 2009. He presented
the topic ‘Challenges and
Opportunities for Insurance
Agents’.
NAMLIFA Central Region AKARD Awards Recognition Night, 17 August 2009
Apart from focusing our efforts to raise the 17 th Annual LIMRA-LOMA Strategic Issues
professionalism of intermediaries, LIAM and Conference
NAMLIFA have maintained an open channel
The 17th Annual LIMRA-LOMA Strategic Issues
of discussion, particularly on matters concerning
Conference was held in Kuala Lumpur from 21
the agency force, including BNM regulations
to 23 June 2009. As the host, LIAM held a
and LIAM’s self regulatory rules, which have a
welcome reception for the participants and
direct impact on the agency force. LIAM
speakers on 21 June 2009. The conference
members also gave their support to NAMLIFA’s
attracted some 170 delegates comprising
Annual Convention and AKARD Awards Night.
CEOs, senior managers and regulators from 15
During the 31st Mega Convention held from
countries.
11 to 13 August 2009 at Genting Highlands,
Encik Md Adnan Md Zain participated in
With the theme ’The New Global Economy:
the CEO Forum on the discussion titled
Resilience in Challenging Times’, the two-day
‘Riding the Wave of Change in Pursuing
conference showcased a line-up of
Excellence in Times of Financial Turbulence’.
distinguished speakers and regulators from
Encik Md Adnan was also the Guest of Honour
various countries. Among the speakers were
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.
The cooperation between

LIAM and NAMLIFA had
extended beyond the
boardrooms to include
community service, namely
the NAMLIFA-LIAM Charity
Golf and the Nationwide
Blood Donation Campaign
in conjunction with Life
17th Annual LIMRA-LOMA Strategic Issues Conference, 21 to 23 June 2009
Insurance Day 2009.

21
Mr Marvin Feldman, President and CEO of Life 35th ASEAN Insurance Council Meeting
Foundation, who shared on: ‘How do We Representatives from life and non-life insurance
Survive in this Chaos?’. Another expert, Mr associations from ASEAN countries
Charlie Oropeza, (CEO of Prudential Malaysia), congregated in Vientiane, Laos PDR, for the
delivered an interesting paper on the topic: 35th ASEAN Insurance Council (AIC) meeting
‘Find the Path to Profitable and Sustainable from 7 to 9 October 2009.
Growth’. Mr Sidney T. Yuen, (Director of Global
Consulting Services, Asia Pacific, Convergys LIAM was represented by Mr Ooi Say Teng
Corporation), spoke on ‘Addressing the (LIAM’s Vice President) and Encik Mohd Din
Customer Experience: What Investments Make Merican (Management Committee Member).
Sense in the Current Financial Climate?’. Last This meeting served as an effective
but not least, Mr Mark Saunders, (Principal and communication platfor m, facilitating
Managing Director, Asia Tillinghast-Towers exchange of information among participants
Perrin), enlightened the public about ‘Product on the latest development of their respective
Alignment by the Numbers: Fundamentals and markets. Among other benefits, they also
Lessons Learned in a Global Market’. discussed on the ASEAN Insurance Training and
Research Institute (AITRI) and the ASEAN
Natural Disasters and Research Works Sharing.
Bumiputera Agents Convention
LIAM jointly organized the 2009 Bumiputera As in previous meetings, the Council also liaised
Agents Convention with MII on 1 August 2009. closely with the ASEAN Insurance Regulators
The Convention drew a record attendance of to discuss common issues concerning the
514 participants. The Bumiputera Agency insurance industry in general. The AIC is a
Leaders Award was also held for the first time in regional private sector grouping of insurance
conjunction with the Convention. The award was associations in ASEAN, formed to promote
to acknowledge the agency leaders’ regional ties and cooperation among ASEAN
contributions in building up individuals into insurers. The Council meeting is held once a
successful life insurance professionals. It was also year in a designated ASEAN country.
to recognize the agency leaders’ personal
excellence and outstanding achievements in life The 7th ASEAN Insurance Congress was also
insurance selling. staged in Vientiane from 7 to 8 October 2009.
Themed ‘Best Practices to
Boost the Bottom Line’, the
Congress attracted some
80 participants from
ASEAN countries and
Bahrain. The Congress was
hosted by the Ministry of
Finance of Laos PDR, with
the support from AITRI and
AIC.
The Young ASEAN

Managers Award (YAMA)
was organized in
conjunction with the
Congress. Ms Sophia
Ch’ng, Senior Vice
2009 Bumiputera Agents Convention, 1 August 2009
President and Deputy

22
speakers. The speakers
included Mr Robert Stein
(Global Financial Services,
Ernst & Young), Mr Stephan
Binder (McKinsey & Company),
Dr Thomas Kabisch (MEAG
Munich), Mr Jim Morris (Pacific
Life Insurance Company) and
Mr Bill Toppeta (Metlife
International).
Insurance Awareness
TV interviews
As part of its continuous
Ms Sphia Ch’ng, winner of YAMA, 7 October 2009 efforts to raise insurance
awareness, LIAM participated
Head of Finance and Corporate Affairs, Great in several TV talk shows. Encik Md Adnan Md
Eastern Life Assurance (Malaysia) Berhad Zain had appeared on several TV programmes
emerged as the 2009 Award Winner. Ms Ch’ng, to raise consumer awareness on life insurance.
being an inaugural double achiever, is the first On 4 May 2009, Encik Md Adnan was on a
Malaysian to win this prestigious award. consumer programme on RTM1 to talk about
the Malaysian life insurance industry. This was
YAMA was introduced by AIC to encourage followed by appearances on another
young managers within the industry to actively consumer focused programme on TV3 on 1
contribute and excel in their field of work. It August 2009 and 8 August 2009, to provide
honoured outstanding young managers for information on the importance and benefits
their achievements, contributions and of life insurance. Encik Md Adnan also
dedication in the insurance industry in this participated in a business programme on RTM1
region. The award had been organized by AITRI on 24 August 2009 to share on how the life
since 2005. insurance industry assisted the economy in
general during the economic crisis. The LIAM
President was also interviewed by TV9 on 10
24th Pacific Insurance Conference 2009
December 2009 about market liberalization.
Being the inaugural host of the 23rd Pacific He also talked on the presence and interest of
Insurance Conference (PIC) 2007, LIAM was foreign companies in the local life insurance
committed in ensuring the success of the next industry.
PIC. Some 25 Malaysian participants attended
the 24th PIC in Bangkok, Thailand from 1 to 4
November 2009. Among the Malaysian LIAM’s Educational Articles
participants were LIAM President, Vice- In an effort to educate the public on the
President, CEOs and senior personnel from benefits of life insurance, LIAM had contributed
member companies. articles on various topics concerning life
insurance for publication in the newspapers.
With the theme ‘Building a World Class Business These articles are available on the LIAM website
in the Asia Pacific Region – Success Strategies at www.liam.org.my. The articles on
for Multinational and Domestic Companies’, understanding cash bonuses and life insurance
the conference presented a lineup of claims had been compiled into informative
international distinguished and experienced booklets.

23
A series of six new articles were published in a October 2009 to 1 November 2009 in
Mandarin newspaper between June and July conjunction with Life Insurance Day 2009. The
2009. The articles, covering subjects such as theme of the donation drive was ‘Donate
insurance and consumers’ rights, managing Blood – Your Gift of Life’.
insurance policies during financial crisis,
endowment policies and critical illness policies, All in, 16 blood donation sites were set up in
were also published in a relatively new English major towns and cities around the country.
newspaper in its ‘Underwriter’ column. The Apart from Kuala Lumpur, to encourage
articles which had been published are public participation, numerous blood
available on the LIAM website. donation sites were also put up in Petaling
Jaya, Klang, Ipoh, Penang, Alor Setar,
Seremban, Melaka, Johor Bahru, Kuantan,
FOMCA Workshop
Kuala Terengganu, Kota Bharu, Sibu and Kota
LIAM, in collaboration with the Federation of Kinabalu.
Malaysian Consumers’ Association (FOMCA),
organized a workshop with the theme ‘Change Through the combined efforts of LIAM member
Begins with Me’ on 4 June 2009. companies and NAMLIFA members, the drive
managed to achieve a grand total of 1,017
The workshop aimed to raise the awareness of donors.
consumers, while educating them on smart
spending in order to sustain a
modest living lifestyle during the
current economic situation. The
speakers were YBhg Datuk Paul
Selva Raj, (CEO, Consumer
Research and Resource Centre,
FOMCA) and Encik Muhammad
Sha’ani Abdullah, (CEO,
National Consumer Compliants
Centre cum Secretary General
of FOMCA). They shared
informative and handy tips on
smart spending.
The half-day workshop was FOMCA Workshop: Change Begins with Me, 4 June 2009
attended by some 40
representatives from LIAM
member companies.
Corporate Social
Responsibility
Life Insurance Day – ‘Donate
Blood – Your Gift of Life’
Keeping up with the efforts to
nurture a caring society, LIAM
and NAMLIFA jointly organized
a week-long nationwide blood
Life Insurance Day: Donate Blood – Your Gift of Life, 26 October 2009
donation campaign from 26

24
NAMLIFA - LIAM Charity Golf Malaysian Insurance Industry Annual Dinner
In addition to holding meetings, LIAM and The Malaysian Insurance Industry Annual Dinner
NAMLIFA also collaborated on social events. was held on 4 December 2009 at Crowne Plaza
The NAMLIFA - LIAM Charity Golf, held on 30 Mutiara Kuala Lumpur. It was graced by YB
October 2009 at the Mines Resort and Golf Dato’ Zamani bin Abdul Ghani (Deputy
Club, Seri Kembangan, witnessed the Governor of BNM).
participation of some 87 players from the
industry. The Guest of Honour was YB Dato’ Some 850 guests attended the dinner. Most of
Wira Chor Chee Heung, (Deputy Minister of them dressed in black and white in accordance
Finance). All proceeds from the tournament with the theme of ‘Black and White Nite’. In
were donated to Rumah Hope, a home for conjunction with this year’s dinner, the
abused and abandoned children, located in Organising Committee also held an Insurance
Paramount Garden, Petaling Jaya. LIAM was Industry Idol singing contest with attractive cash
the main sponsor of this tournament. prizes up for grabs.
NAMLIFA-LIAM Charity Golf, 30 October 2009
Social All the five finalists gave a rousing performance

Visit by Kenya Insurance Regulatory Authority during the dinner. Like previous dinners, there
were also lucky draw prizes for the guests,
A high level delegation from the Kenya thanks to the generous contributions of the
Insurance Regulatory Authority led by its member sponsors from the industry. The dinner
Chairman, Mr Steve Omenge Mainda, met up was jointly organized by Association of
with senior representatives from LIAM, PIAM and Malaysian Loss Adjusters (AMLA), LIAM, MII, the
MTA on 27 October 2009. The meeting was part Malaysian Insurance and Takaful Brokers
of the Kenya Insurance Regulatory Authority Association (MITBA), MTA and PIAM. AMLA and
study tour of the Malaysian insurance industry. MITBA shared the chairing of this committee.
During the half-day meeting, LIAM, PIAM and
MTA exchanged notes on the growth and
development of the life and general insurance Conclusion
industry and the takaful industry respectively. The Management Committee wishes to thank
In turn, the Kenya Insurance Regulatory all members for their support and cooperation
Authority also briefed on the various rendered to the Association. We look forward
developments within the Kenyan insurance to our members’ continuous cooperation,
industry. participation and commitment as we take on
new challenges in the year ahead.

25
L aporan Jawatankuasa Pengurusan
Selaku persatuan yang mewakili syarikat- industri insurans. Justeru, satu draf pendedahan
syarikat insurans hayat, LIAM telah diberi penyata kewangan contoh telah dikeluarkan.
kepercayaan dan tanggungjawab untuk Maklum balas yang diperolehi telah diambil
mengukuhkan kedudukannya dalam industri kira bagi memperkemaskan lagi penyata
sebagai badan kawal selia sendiri yang teguh kewangan contoh.
dan berwibawa. Sepanjang tahun 2009, kami
telah melaksanakan pelbagai projek dan Definisi Umum bagi Penyakit Kritikal
tugasan yang berjaya disempurnakan dengan (CI)
penuh komitmen dan dedikasi oleh
jawatankuasa dan wakil pasukan petugas Selaras dengan kemajuan yang dicapai dalam
kami. Sorotan aktiviti utama dan isu penting sains perubatan dan kaedah diagnosis baru,
yang ditangani oleh LIAM disenaraikan di LIAM telah menyemak semula definisi penyakit
bawah: kritikal (CI). Tugasan tersebut telah selesai pada
bulan November 2009. Semakan semula telah
dilakukan oleh Pasukan Petugas yang terdiri
Piawaian Laporan Kewangan daripada para pengamal perubatan, pakar
Antarabangsa (IFRS) aktuari dan pegawai tuntutan ahli-ahli LIAM.
Malaysia amat komited untuk mematuhi Satu kajian perbandingan juga telah dilakukan
sepenuhnya Piawaian Laporan Kewangan oleh Pasukan Petugas untuk menilai
Antarabangsa menjelang Januari 2010. LIAM perkembangan dalam insurans penyakit kritikal
aktif menyertai pelbagai kumpulan kerja yang di beberapa negara maju. Definisi yang
ditubuhkan oleh Lembaga Piawaian disemak semula dijangka akan menggantikan
Perakaunan Malaysia (MASB) untuk menyemak definisi semasa yang digunakan oleh syarikat
dan merangka piawaian perakaunan yang insurans hayat sejak 2002.
membabitkan industri insurans. Sepanjang
tahun 2009 LIAM telah menyumbang kepada Inisiatif Pembangunan Modal Insan
proses perundingan yang diselaraskan oleh
Institut Kewangan Asia (AIF) ditubuhkan pada
MASB mengenai piawaian perakaunan, draf
November 2008 sebagai inisiatif bersama oleh
pendedahan dan kertas perbincangan
Bank Negara Malaysia (BNM) dan Suruhanjaya
berikut:
Sekuriti Malaysia, untuk meningkatkan
1. IASB ED/2009/3: Derecognition (proposed pembangunan modal insan bagi sektor
amendments to IAS 39 and IFRS 7); perkhidmatan kewangan. Ini akan dicapai
2. IASB DP/2009/2: Credit Risk in Liability menerusi penyusunan institusi secara lebih
Measurement; kukuh bagi kerjasama antara AIF dan empat
3. IASB ED/2009/12: Financial Instruments: institusi latihan, iaitu Institut Bank-Bank Malaysia
Amortised Cost and Impairment; (IBBM), Institut Perbankan dan Kewangan Islam
4. MASB ED 69: Proposal to replace the Malaysia (IBFIM), Institut Insurans Malaysia (MII)
requirements on the classification and dan Perbadanan Pembangunan Industri
measurement of financial assets in FRS 139. Sekuriti (SIDC).
LIAM juga telah dijemput untuk menganggotai Untuk industri insurans, peruntukan belanjawan
Jawatankuasa Kerja yang ditubuhkan oleh RM44.8 juta telah diluluskan sebagai inisiatif
Institut Akauntan Awam Bertauliah Malaysia peningkatan MII. Kos ini akan dibiayai bersama
(MICPA) untuk menyediakan penyata oleh syarikat insurans iaitu berasaskan 1% gaji
kewangan contoh yang disemak semula untuk kakitangan dan dana yang sama banyak

26
daripada BNM. Untuk fasa pertama projek ini, permohonan Lesen Penasihat Kewangan dan
kira-kira RM22.5 juta sudah diperuntukkan. Suruhanjaya Sekuriti bagi Lesen Perkhidmatan
Inisiatif peningkatan MII merangkumi Pasaran Modal.
peningkatan kurikulum dan program, sistem
pembelajaran berasaskan web, infrastruktur IT, Diperkenalkan pada 2002, RFP adalah
peningkatan sumber dan pengetahuan, kelayakan kewangan Malaysia yang
penyelidikan dan penerbitan, dan pemulihan diusahakan bersama oleh LIAM, Institut
dan pembesaran fakulti. Insurans Malaysia (MII) dan Persatuan
Kebangsaan Ejen-Ejen Insurans Hayat dan
Perancang Kewangan Profesional Malaysia
Program Meningkatkan Tenaga Mahir
(NAMLIFA) bagi memenuhi keperluan untuk
dalam Sektor Kewangan (FSTEP)
mengiktiraf perancang kewangan profesional.
Program Meningkatkan Tenaga Mahir dalam Majlis Perancangan Kewangan Malaysia
Sektor Kewangan (FSTEP) adalah satu inisiatif (MFPC) seterusnya ditubuhkan untuk
BNM dan sektor perkhidmatan kewangan yang menggalakkan pembangunan RFP.
dijayakan sejak September 2007. Setakat ini,
kira-kira 684 peserta telah menjalani latihan Sebagai salah sebuah organisasi pengasas
FSTEP. MFPC, LIAM sentiasa mengekalkan
kehadirannya dalam Majlis Kebangsaan MFPC.
Objektif program ini ialah untuk melahirkan Pada masa ini, lima orang wakil daripada ahli
sekumpulan bakat muda yang lestari untuk LIAM menganggotai Majlis Kebangsaan bagi
sektor perkhidmatan kewangan. Siswazah penggal 2009 hingga 2011.
yang terpilih perlu menjalani program latihan
intensif selama satu tahun, meliputi perbankan MFPC telah mengorak langkah besar sejak
konvensional, perbankan pelaburan, ditubuhkan. Pencapaiannya termasuk
perbankan Islam, insurans dan takaful. Ia memperkenalkan program RFP Syariah pada
melibatkan latihan dalam kelas, simulasi, bulan Ogos 2008 untuk membekalkan
bengkel dan kajian kes, serta program latihan pengetahuan dan prinsip perancangan
dengan institusi kewangan. kewangan Islam dan Takaful kepada para
perancang kewangan. Majlis Kebangsaan
Bengkel setengah hari mengenai ‘Langkah MFPC dan Lembaga Penasihat dan
Menuju Ke Hadapan: Kumpulan 5 dan Jawatankuasa Penasihat Syariah telah
Selanjutnya’ telah diadakan pada 21 Oktober menubuhkan Tabung Biasiswa RFP Syariah
2009 untuk mempromosikan skim pra-pilihan bernilai RM300,000.
FSTEP Kumpulan 5. Satu lagi objektif ialah untuk
menilai keperluan latihan industri insurans pada
masa hadapan. Majlis Pelancongan Penjagaan
Kesihatan Malaysia (MHTC)
Bengkel ini yang dianjurkan bersama oleh FSTEP, LIAM telah dijemput untuk menganggotai
LIAM, Persatuan Insurans Am Malaysia (PIAM) dan Jawatankuasa Penasihat Majlis Pelancongan
Persatuan Takaful Malaysia (MTA), telah dihadiri Penjagaan Kesihatan Malaysia (MHTC) yang
oleh kira-kira 64 peserta yang kebanyakannya ditubuhkan di bawah Kementerian Kesihatan
terdiri daripada ketua dan pegawai kanan Malaysia.
daripada bahagian sumber manusia.
MHTC telah dilancarkan secara rasmi oleh
Perdana Menteri Malaysia pada 21 Disember
Majlis Perancangan Kewangan
2009. Objektif utama MHTC ialah untuk
Malaysia (MFPC)
mempromosi dan membangunkan industri
Perancang Kewangan Berdaftar (RFP) pelancongan kesihatan dalam usaha
merupakan salah satu daripada kelayakan menjadikan Malaysia destinasi penjagaan
profesional, yang diiktiraf oleh BNM bagi kesihatan pilihan di rantau ini.

27
Jawatankuasa Penasihat dipengerusikan oleh NAMLIFA-LIAM dan Kempen Derma Darah
Menteri Kesihatan dengan Menteri di Jabatan Seluruh Negara sempena Hari Insurans Hayat
Perdana Menteri sebagai pengerusi bersama. 2009.
Ahli Jawatankuasanya dilantik dari kalangan
wakil Kerajaan dan sektor swasta yang terlibat
Persidangan/Seminar
dalam pelancongan penjagaan kesihatan.
Tujuan jawatankuasa ini ialah untuk memberi Seminar Agensi Insurans PIS
nasihat tentang isu dasar dan untuk Encik Ng Lian Lu, bekas Presiden LIAM, adalah
menetapkan hala tuju industri pelancongan salah seorang penceramah di Seminar Agensi
kesihatan pada masa hadapan. Mesyuarat Insurans pertama Pertubuhan Insurans Sarawak
pertama Jawatankuasa Penasihat MHTC telah (PIS) yang dianjurkan di Kuching, Sarawak pada
diadakan pada 15 Disember 2009. 10 Mac 2009. Kertas pembentangan beliau
bertajuk ‘Cabaran dan Peluang bagi Ejen
Persatuan Kebangsaan Ejen-Ejen Insurans’.
Insurans Hayat dan Perancang
Kewangan Profesional Malaysia Persidangan Isu Strategik LIMRA-LOMA Ke-17
(NAMLIFA) Persidangan Tahunan Isu Strategik LIMRA-LOMA
LIAM menjalin hubungan kerja yang mesra Ke-17 telah berlangsung di Kuala Lumpur dari
dengan NAMLIFA dan usaha sama ini telah 21 hingga 23 Jun 2009. Sebagai tuan rumah,
menghasilkan banyak projek yang berjaya. LIAM meraikan peserta dan penceramah di
Selain menumpukan kepada usaha untuk jamuan alu-aluan pada 21 Jun 2009.
meningkatkan profesionalisme pengantara, Persidangan ini telah menarik kira-kira 170
LIAM dan NAMLIFA telah mengekalkan saluran peserta yang terdiri daripada Ketua Pegawai
perbincangan terbuka, khususnya mengenai Eksekutif, pengurus kanan dan pengawal selia
isu-isu yang berkaitan dengan ejen termasuk dari 15 negara.
peraturan BNM dan peraturan kawal selia
sendiri LIAM, yang memberi kesan secara Persidangan selama dua hari ini yang
langsung ke atas tenaga agensi. Ahli-ahli LIAM bertemakan ‘Ekonomi Global Baru: Daya Tahan
juga memberi sokongan kepada Konvensyen pada Era Mencabar’ ( The New Global
Tahunan NAMLIFA dan Malam Anugerah Economy: Resilience in Challenging Times) telah
AKARD. Pada Konvensyen Mega Ke-31 yang menampilkan barisan penceramah dan
berlangsung dari 11 hingga 13 Ogos 2009 di pengawal selia berwibawa dari pelbagai
Genting Highlands, Encik Md Adnan Md Zain negara. Antara para penceramah ialah Encik
telah menyertai Forum Ketua Pegawai Eksekutif Marvin Feldman, Presiden dan Ketua Pegawai
bertajuk ‘Menongkah Arus Perubahan dalam Eksekutif Life Foundation, yang menyampaikan
Mengejar Kecemerlangan pada Zaman topik: ‘Bagaimana untuk Terus Hidup dalam
Kegawatan Kewangan’ (Riding the Wave of Kekalutan?’ (How do we Survive in this Chaos?).
Change in Pursuing Excellence in Times of Seorang lagi pakar, Encik Charlie Oropeza,
Financial Turbulence). Encik Md Adnan juga (CEO Prudential Malaysia), membentangkan
menjadi Tetamu Kehormat pada Malam kertas kerja menarik yang bertajuk: ‘Mencari
Pengiktirafan Anugerah AKARD Ke-6 bagi Laluan untuk Mencapai Pertumbuhan
Kawasan Perak yang dianjurkan di Ipoh pada Menguntungkan dan Lestari’ (Find the Path to
11 Julai 2009 dan Kawasan Tengah yang Profitable and Sustainable Growth ). Encik
berlangsung di Subang Jaya pada 17 Ogos Sidney T. Yuen, (Pengarah Global Consulting
2009. Services, Asia Pacific, Convergys Corporation),
membincangkan topik tentang ‘Menangani
Kerjasama antara LIAM dan NAMLIFA bukan Pengalaman Pelanggan: Apakah Pelaburan
setakat sesi mesyuarat sahaja, malah LIAM dan Yang Munasabah dalam Iklim Kewangan
NAMLIFA telah berganding bahu menjalankan Semasa?’ ( Addressing the Customer
projek khidmat masyarakat seperti Golf Amal Experience: What Investments Make Sense in

28
the Current Financial Climate?). Akhir sekali perhimpunan persatuan insurans swasta
Encik Mark Saunders, (Ketua dan Pengarah serantau ASEAN, yang ditubuhkan untuk
Urusan, Asia Tillinghast-Towers Perrin), menarik memupuk hubungan erat dan kerjasama
perhatian umum dengan pembentangan serantau antara syarikat insurans ASEAN.
tentang ‘Penjajaran Produk Mengikut Nombor: Mesyuarat AIC diadakan setahun sekali di
Asas dan Pelajaran Yang Dipelajari dalam sebuah negara yang ditetapkan.
Pasaran Global’ (Product Alignment by the
Numbers: Fundamentals and Lessons Learned Kongres Insurans ASEAN Ke-7 juga dianjurkan
in a Global Market). di Vientiane dari 7 hingga 8 Oktober 2009.
Bertemakan ‘Amalan Terbaik untuk
Meningkatkan Keuntungan’ (Best Practices to
Konvensyen Ejen Bumiputera
Boost the Bottom Line), kongres ini telah menarik
LIAM menganjurkan Konvensyen Ejen kira-kira 80 peserta dari negara ASEAN dan
Bumiputera 2009 bersama MII pada 1 Ogos Bahrain. Kongres dianjurkan oleh Kementerian
2009. Konvensyen ini telah mencatat rekod Kewangan Laos PDR, dengan sokongan AITRI
penyertaan paling ramai, iaitu 514 peserta. dan AIC.
Anugerah Pemimpin Agensi Bumiputera telah
diberikan buat pertama kali sempena Anugerah Pengurus Muda ASEAN (YAMA) telah
Konvensyen ini. Anugerah ini mengiktiraf disampaikan sempena kongres ini. Cik Sophia
sumbangan pemimpin agensi dalam usaha Ch’ng, Naib Presiden Kanan dan Timbalan
mendidik individu menjadi profesional insurans Ketua Bahagian Kewangan dan Hal Ehwal
hayat yang berjaya. Ia juga bertujuan untuk Korporat, Great Eastern Life Assurance
mengiktiraf kecemerlangan peribadi pemimpin (Malaysia) Berhad, muncul sebagai Pemenang
agensi dan pencapaian yang amat baik Anugerah 2009. Sebagai pemenang
dalam penjualan insurans hayat. berganda sulung, Cik Ch’ng adalah warga
Malaysia pertama yang memenangi anugerah
Mesyuarat Majlis Insurans ASEAN Ke-35 berprestij ini.
Wakil persatuan insurans hayat dan insurans am YAMA diperkenalkan oleh AIC untuk
dari negara ASEAN telah berkumpul di menggalakkan pengurus muda dalam industri
Vientiane, Laos PDR, untuk menghadiri untuk menyumbang secara aktif dan mencapai
mesyuarat Majlis Insurans ASEAN (AIC) Ke-35 kecemerlangan dalam bidang kerja mereka. Ia
dari 7 hingga 9 Oktober 2009. mengiktiraf pengurus muda berdasarkan
pencapaian, sumbangan dan dedikasi mereka
LIAM diwakili oleh Encik Ooi Say Teng (Naib dalam industri insurans di rantau ini. YAMA telah
Presiden LIAM) dan Encik Mohd Din Merican (Ahli diperkenalkan oleh AITRI sejak 2005.
Jawatankuasa Pengurusan). Mesyuarat ini
merupakan platform komunikasi yang berkesan
untuk memudahkan pertukaran maklumat di Persidangan Insurans Pasifik Ke-24 2009
kalangan peserta mengenai perkembangan Sebagai tuan rumah sulung Persidangan
terkini dalam pasaran masing-masing. Antara Insurans Pasifik Ke-23 (PIC) 2007, LIAM memberi
lain mereka juga membincangkan tentang komitmen sepenuhnya untuk memastikan
Institut Latihan dan Penyelidikan Insurans ASEAN kejayaan PIC seterusnya. Kira-kira 25 peserta
(AITRI) dan Perkongsian Kerja Penyelidikan dan Malaysia menghadiri PIC Ke-24 di Bangkok,
Bencana Alam ASEAN. Thailand dari 1 hingga 4 November 2009.
Peserta Malaysia termasuk Presiden dan Naib
Seperti mesyuarat pada tahun-tahun Presiden LIAM, CEO dan pegawai kanan ahli-
terdahulu, AIC juga bekerjasama rapat ahli LIAM.
dengan Pengawal Selia Insurans ASEAN untuk
membincangkan isu bersama membabitkan Persidangan yang bertema ‘Membina
industri insurans, amnya. AIC adalah Perniagaan Bertaraf Dunia di Rantau Asia

29
Pasifik – Strategi Kejayaan bagi Syarikat Rencana mengenai bonus tunai dan tuntutan
Multinasional dan Domestik’ (Building a World insurans hayat telah diterbitkan dalam buku
Class Business in the Asia Pacific Region – kecil.
Success Strategies for Multinational and
Domestic Companies ) membariskan Enam rencana baru telah disiarkan dalam
penceramah antarabangsa yang terkenal dan akhbar Bahasa Mandarin antara Jun dan Julai
berpengalaman. Para penceramah termasuk 2009. Rencana yang meliputi pelbagai subjek
Encik Robert Stein (Global Financial Services, seperti insurans dan hak pengguna,
Ernst & Young), Encik Stephan Binder (McKinsey pengurusan polisi insurans semasa krisis
& Company), Dr Thomas Kabisch (MEAG kewangan, polisi endowmen dan polisi
Munich), Encik Jim Morris (Pacific Life Insurance penyakit kritikal, telah juga disiarkan dalam
Company) dan Encik Bill Toppeta (Metlife ruangan ‘Underwriter’ sebuah akhbar Inggeris
International). yang boleh dianggap baru. Rencana yang
telah tersiar ini boleh didapati di laman web
LIAM.
Kesedaran Insurans
Temu ramah TV Bengkel FOMCA
Sebagai sebahagian daripada usaha LIAM, dengan kerjasama Gabungan
berterusan untuk meningkatkan kesedaran Persatuan-Persatuan Pengguna-Pengguna
insurans, LIAM menyertai beberapa rancangan Malaysia (FOMCA), menganjurkan bengkel
bual bicara TV. Encik Md Adnan Md Zain telah bertema ‘Perubahan Bermula dengan Saya’
muncul dalam beberapa program TV untuk (Change Begins with Me) pada 4 Jun 2009.
meningkatkan kesedaran pengguna terhadap
insurans hayat. Pada 4 Mei 2009, Encik Md Bengkel ini bertujuan untuk meningkatkan
Adnan muncul dalam program pengguna kesedaran pengguna, sambil mendidik mereka
RTM1 untuk memperkatakan tentang industri tentang cara berbelanja dengan bijak untuk
insurans hayat Malaysia. Ini diikuti membolehkan mereka mengamalkan gaya
kemunculannya dalam satu lagi program hidup sederhana dalam kegawatan ekonomi
pengguna TV3 pada 1 Ogos 2009 dan 8 Ogos semasa. Para penceramah terdiri daripada
2009, untuk menerangkan tentang YBhg Datuk Paul Selva Raj, (Ketua Pegawai
kepentingan dan kelebihan insurans hayat. Eksekutif, Penyelidikan Pengguna dan Pusat
Encik Md Adnan juga menyertai program Sumber, FOMCA) dan Encik Muhammad
perniagaan RTM1 pada 24 Ogos 2009 untuk Sha’ani Abdullah, (Ketua Pegawai Eksekutif,
berkongsi pandangan beliau tentang Pusat Aduan Pengguna Kebangsaan
bagaimana industri insurans hayat membantu merangkap Setiausaha Agung FOMCA).
pertumbuhan ekonomi secara umumnya Mereka berkongsi maklumat dan petua yang
semasa krisis ekonomi. Presiden LIAM juga telah berguna mengenai cara berbelanja dengan
ditemu ramah oleh TV9 pada 10 Disember 2009 bijak.
tentang liberalisasi pasaran. Beliau juga
memperkatakan tentang kehadiran dan minat Bengkel setengah hari ini dihadiri oleh kira-kira
syarikat asing terhadap industri insurans hayat 40 wakil ahli-ahli LIAM.
tempatan.
Rencana Pendidikan LIAM Tanggungjawab Sosial Korporat

Dalam usaha untuk mendidik orang ramai Hari Insurans Hayat – ‘Derma Darah – Anugerah
tentang manfaat insurans hayat, LIAM telah Anda untuk Kehidupan’
menyumbang rencana mengenai pelbagai Selaras dengan usaha untuk memupuk
topik berkaitan insurans hayat untuk disiarkan masyarakat penyayang, LIAM dan NAMLIFA
dalam akhbar. Rencana ini boleh didapati di bersama-sama menganjurkan kempen derma
laman web LIAM di www.liam.org.my. darah di seluruh negara selama seminggu dari

30
26 Oktober 2009 hingga 1 November 2009 mengenai pertumbuhan dan pembangunan
sempena Hari Insurans Hayat 2009. Tema industri insurans hayat dan am, dan juga industri
kempen derma darah ialah ‘Derma Darah – takaful. Lembaga Kawal Selia Insurans Kenya
Anugerah Anda untuk Kehidupan’. pula menjelaskan secara ringkas pelbagai
perkembangan dalam industri insurans Kenya.
Secara keseluruhan, 16 pusat derma darah
telah disediakan di bandar-bandar besar di
Makan Malam Tahunan Industri Insurans
seluruh negara. Selain di Kuala Lumpur, untuk
Malaysia
menggalakkan orang ramai menderma darah,
pusat-pusat derma darah telah disediakan di Makan Malam Tahunan Industri Insurans
Petaling Jaya, Klang, Ipoh, Pulau Pinang, Alor Malaysia dianjurkan pada 4 Disember 2009 di
Setar, Seremban, Melaka, Johor Bahru, Crowne Plaza Mutiara Kuala Lumpur. Majlis itu
Kuantan, Kuala Terengganu, Kota Bharu, Sibu telah diserikan oleh kehadiran YB Dato’ Zamani
dan Kota Kinabalu. Abdul Ghani (Timbalan Gabenor BNM).
Menerusi gandingan usaha ahli-ahli LIAM dan Seramai 850 tetamu menghadiri jamuan
ahli-ahli NAMLIFA, kempen derma darah ini makan malam ini. Kebanyakan mereka
berjaya menarik seramai 1,017 penderma. menggayakan pakaian hitam dan putih
menurut tema ‘Malam Hitam dan Putih’.
Golf Amal NAMLIFA - LIAM Sempena makan malam tahun ini,
Jawatankuasa Penganjur juga menganjurkan
Selain menganjurkan mesyuarat, LIAM dan peraduan menyanyi Idola Industri Insurans yang
NAMLIFA juga bekerjasama dalam aktiviti sosial. menawarkan hadiah wang tunai yang
Golf Amal NAMLIFA - LIAM, yang diadakan menarik.
pada 30 Oktober 2009 di Mines Resort and Golf
Club, Seri Kembangan, menarik kira-kira 87 Kesemua lima finalis memberikan persembahan
pemain daripada industri. Tetamu Kehormat yang mendapat tepukan gemuruh pada
ialah YB Dato’ Wira Chor Chee Heung, malam itu. Seperti makan malam pada tahun-
(Timbalan Menteri Kewangan). Semua hasil tahun sebelumnya, pelbagai hadiah cabutan
kutipan daripada kejohanan ini didermakan bertuah telah disumbangkan oleh ahli-ahli
kepada Rumah Hope, rumah untuk kanak- industri ini. Makan malam tahunan ini
kanak teraniaya dan terabai di Paramount dianjurkan bersama oleh Persatuan Penyelaras
Garden, Petaling Jaya. LIAM adalah penaja Kerugian Malaysia (AMLA), LIAM, MII, Persatuan
utama kejohanan ini. Broker Insurans dan Takaful Malaysia (MITBA),
MTA dan PIAM. AMLA dan MITBA bertindak
Sosial bersama sebagai pengerusi jawatankuasa.
Lawatan Lembaga Kawal Selia Insurans Kenya

Perwakilan peringkat tinggi daripada Lembaga
Kesimpulan
Kawal Selia Insurans Kenya diketuai oleh Jawatankuasa Pengurusan ingin mengucapkan
Pengerusinya, Encik Steve Omenge Mainda, ribuan terima kasih kepada semua ahli atas
telah mengadakan pertemuan dengan wakil sokongan dan kerjasama yang diberikan
LIAM, PIAM dan MTA pada 27 Oktober 2009. kepada Persatuan. Kami mengharapkan
Pertemuan itu adalah sebahagian daripada kerjasama, penyertaan dan komitmen
lawatan sambil belajar Lembaga Kawal Selia berterusan daripada ahli kami untuk
Insurans Kenya untuk mendalami industri membolehkan kami menyahut cabaran baru
insurans Malaysia. Dalam pertemuan setengah pada tahun yang akan datang.
hari itu, LIAM, PIAM dan MTA bertukar-tukar nota

31
P erformance of the Life Insurance Industry
Malaysian Economy The overnight policy rate (OPR) remained
unchanged at 2.00% during the third quarter
The Malaysian economy declined by 6.2%, 3.9%
of 2009 to support economic activity amid
and 1.2% respectively in the first three quarters
abating inflation. The ringgit appreciated 1.4%
of 2009, as measured by the GDP. The decline
to RM3.4745 against the US dollar during the
in GDP in the third quarter was lower than in
third quarter of 2009, as the greenback lost
the first two quarters as the global economy
attractiveness as a safe haven currency
recovered from the financial crisis. The
following stronger signs of economic
corresponding quarterly growth rates in 2008
stabilization.
were 7.4%, 6.6% and 4.8%. The services sector
per for med strongly amidst the difficult
Major economies are expected to register
economic environment and grew 3.4% in Q3
positive growth in the fourth quarter, supported
2009 (Q1 2009: -0.2%, Q2 2009: 1.6%). The growth
by fiscal and monetary measures. The
in the sector was driven mainly by
Malaysian economy is also expected to turn
communication, real estate and business
around in Q4 2009. Growth is expected to be
services as well as finance and insurance sub-
supported mainly by increased external
sectors. The finance and insurance sub-sector
demand, positive effect of stimulus packages
posted a growth rate of 3.5% in Q3 (Q1: 1.2%,
as well as accommodative monetary policy.
Q2: 3.3%). The construction sector also
With these developments, the life insurance
expanded strongly by 7.9% (Q2: 4.5%),
industry is expected to achieve a double-digit
supported by the faster pace of implementation
growth in 2010.
of the stimulus packages.
(Source: Quarterly Update of the Malaysian

Domestic demand turned around to register
Economy – 3rd Quarter 2008, Ministry of Finance)
positive growth of 0.4% in Q3 (Q2: -2.2%), largely
underpinned by expansion in consumption
activities. Private consumption expanded at a
faster pace of 1.5% in Q3 2009, compared with Life Insurance Business
0.5% in Q2 2009. The growth was attributed to New Business January – December 2009
firm household disposable income, arising from
Based on the data as at 5 March 2010, the life
better commodity prices, improved labour
insurance industry in Malaysia enjoyed a
market conditions and strong stock market
positive growth of 5.7% in 2009, as measured
performance.
by new business total premiums. The total new
business premiums in 2009 was RM7.53 billion,
The inflation rate as measured by changes in
as compared to RM7.13 billion in 2008.
the Consumer Price Index (CPI) declined 2.3%
in Q3 2009 (Q2 2009: 1.3%). This was mainly due
Total Premiums January to December
to the high base effect arising from higher
RM billion 2008 2009 Growth
global food and energy prices in 2008 as well
as slower increase in food prices in 2009. Individual
Meanwhile the Producer Price Index (PPI) fell - Traditional 2.50 3.39 35.7%
further by 10.8% in Q3 (Q2 2009: -11.0%), - Investment-linked 2.48 2.07 -16.5%
attributed to the price declines in local and Group 2.14 2.07 -3.7%
imported components at 14.4% and 2.9%
respectively. TOTAL 7.13 7.53 5.7%

32
The growth was mainly attributed to traditional with annualised premiums of RM2.0 billion is
individual policies which chalked up a 35.7% much larger than the size of investment-linked
growth. The unfavourable investment business with annualised premiums of RM1.2
environment and uncertain economic billion. Traditional to investment-linked
conditions in the first quarter of 2009 dampened business mix as at 31 December 2009 was
the consumer confidence and resulted in the 62.5%:37.5% as compared with 61.7%:38.3% a
slowdown in the sales of single premium year earlier.
investment-linked policies. Single premium
Annualised Premiums January to December Mix (January to December)

RM million 2008 2009 Growth 2008 2009
Individual
- Traditional 1,539 2,004 30.1% 61.7% 62.5%
- Investment-linked 954 1,201 25.9% 38.3% 37.5%
TOTAL 2,493 3,204 28.5% 100.0% 100.0%
traditional policies although enjoyed a strong In-Force Policies

growth, the growth was not sufficient to make
In line with the growth in new business, the total
up for the decline in the sales of single premium
premiums for in-force policies also grew strongly at
investment-linked business.
10.1% for individual and group policies combined.
For individual policies, the growth came from
Individual traditional business enjoyed a strong
annual premium policies while the single premium
growth due to the sales of traditional products
business saw a decline in in-force premiums due
in lieu of investment-linked products in times of
to unfavourable investment environment.
uncertainties. Meanwhile group insurance
business suffered a small decline of 3.7% in a
Annual premium investment-linked business with
tough business environment with the economy
a smaller base enjoyed a stronger growth of 14.7%
only starting to recover in the second half of
against the traditional annual premium business
the year.
which grew at 10.4%. In absolute terms, traditional
annual premium business added more than RM1
For individual annual premium business,
billion in-force premiums during the year. The
annualised premiums for traditional policies
corresponding addition in investment-linked
continued to outpace investment-linked
annual premium business was RM682 million.
policies by growing at a strong 30.1% as
compared to a growth of 25.9% for investment-
Meanwhile, group insurance had a strong growth
linked. Investment-linked policies continued to
in year 2009 mainly due to the contribution from
lose popularity as observed since 2007. In
single premium business especially the yearly
absolute terms, the size of traditional business
renewable term (YRT) business.

33
In-Force
RM million 2008 2009 Growth
Individual - Traditional
- Annualised Premiums 10,757 11,874 10.4%
- Single Premiums 1,147 1,115 -2.9%
- TOTAL 11,905 12,989 9.1%
Individual - Investment-linked
- Annualised Premiums 4,632 5,314 14.7%
- Single Premiums 814 776 -4.6%
- TOTAL 5,446 6,090 11.8%
Group
- Annualised Premiums 63 71 13.1%
- Single Premiums (YRT) 36 58 62.1%
- Single Premiums (Others) 695 776 11.6%
- TOTAL 795 906 14.0%
TOTAL (Individual + Group) 18,146 19,984 10.1%
(Source: Life Insurance Association of Malaysia [LIAM])
Life Insurance Business (2004 - 2008)

Number of Policies
12,000,000
0
11,286,371
10,909,842
10,000,000
0
10,534,525
10,144,771
9,723,010
8,000,000
0
Units
6,000,000
0
4,000,000
0
1,365,037
1,402,207
1,303,727
1,337,514
1,345,437
2,000,000
0
New Business
N
Total Business in Force

T
0
2004 2005 2006 2007 2008
Year
Source: Bank Negara Malaysia (Annual Insurance Statistics 2008)

34
Sums Insured
800,000
0
772,877.3
700,000
0
722,679.4
672,901.7
600,000
0
644,295.5
593,922.7
Sums Insured (RM Million)
500,000
0
400,000
0
218,053.3
186,919.9
185,066.0
181,156.5
300,000
0
171,599.1
200,000
0
100,000
0
New Business
Total Business in Force

T
0
2004 2005 2006 2007 2008
Year
New Business : Total Premiums Total business In Force : Annual Premiums
8,000
0 16,000
0
15,447.2
7,233.2
7,587.0
7,000
0 14,000
0
14,538.8
7,161.7
13,325.8
6,701.4
Annual Premiums (RM Million)

6,661.2
Total Premiums (RM Million)
6,000
0 12,000
0
12,308.1
11,251.1
5,000
0 10,000
0
4,000
0 8,000
0
3,000
0 4,000
0
2,000
0 2,000
0
1,000
0 2,000
0
0 0
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Year Year

35
Benefit Payments
2007 (RM Million) 2008 (RM Million)

Others Death and Disability Others
Deat aandd Disab
Death Disability
9551.8 (9.9%) 816.9 (8.5%) 813.3
.3 (8.1%)
951.4 (9.5%)
Medicaal Medical
1,057.6 (10.9%)) 1,276.3 (12.8%)
Maaturity / Vesting
2,164.1 (22.4%) Maturity / Vesting
2,747.1 (27.4%)
Cash Bonusses
1,045.7 (10.8%
%) Cash Bonusees
1,431.1 (14.3%
%)
Surrender
S
Surrender
d
2,793.6 (27.9%)
3,617.6 (37.5%)
Total: RM9,653.6 million Total: RM10,012.8 million
Income
Profit on sale of assets and Profit on sale of assets and

miscellaneous income miscellaneous income
4,949.7 (17.4%) 3,099.6 (11.6%)
Net
et
investment
Net incom
me
investment 4,905..7
income (18.3%
%)
4,567.5
(16.1%)
Premium income Premium inncome

18,893.0 (666.5%) 18,736.2 (770.1%)

36
Outgo (Expenditure)
Loss on disposal of Loss on disposal of

Management assets and other outgo
assets and other outgo
expenses 4,925.0 (25.6%)
983.8 (6.7%)
( )
1,385.0 (9.5%) Managemen
expense
1,559.4 (8.1%
Agency
remuneration
2,565.99
Agen
(17.6%))
remunerat
Net policcy benefits cy benefits
2,713
9,653.6 (66.2%) 8 (52.1%)
(14.1
Total: RM14
RM14,588.4
588 4 million
m ll on Total: RM19,210.7 m ll on
Assets of Life Insurance Funds

Foreign assets 1,666.5 Property, plant and equipment 483.3 Foreign assets 1,526.4 Property, plant and equipment 496.8
Other assets 1,997.0 Mortgages 4,212.3 Other assets 2,506.9 Mortgages 4,282.6
Cash and deposits Policy 6,680.5 Cash and deposits Policy 7,171.2
11 770 7
11,770.7 Others 577.44 13 051 4
13,051.4
Others 553.2
Investment Investmment
propertties properties 3.6613.6 Malayssia Government
2,9886.5 Malayysia ppapers
p / guaranteed
Government lloans 18,301.5
1
ppaper
p rs / Others 1,9177.6
guaraanteed
Others 1,625.1 loans 17,362.8
Corporate / debt securities 53,140.8 Corporate / debt secuurities 56,050.2

INVESTMENTS (RM72,128.7 million) LOANS (RM11,470.2 million) INVESTMENTS (RM76,269.3 million) LOANS (RM12,007.0 million)
Malaysia Government Malaysia Government
Mortgages Mortgages
papers / guaranteed loans papers / guaranteed loans
Policy Policy
Corporate / debt securities Corporate / debt securities
Others Others
Others Others

37
M embers of LIAM
Allianz Life Insurance Malaysia Berhad CIMB Aviva Assurance Berhad

Level 23 & 23A, Wisma UOA II Level 11
No. 21, Jalan Pinang No. 338, Jalan Tuanku Abdul Rahman
50450 Kuala Lumpur 50100 Kuala Lumpur
Telephone No: 03-2162 3388 Telephone No: 03-2612 3600
Fax No: 03-2162 6720 Fax No: 03 - 2698 7035
E-mail: partner@allianz.com.my Customer Careline: 1300-88-5055
http://www.allianz.com.my Email: wecare@cimbaviva.com
http://www.cimbaviva.com

Level 19, Tower C
Level 9, Bangunan AmAssurance
Dataran Maybank
No. 1 Jalan Lumut
No. 1, Jalan Maarof
50400 Kuala Lumpur
59000 Kuala Lumpur
Telephone No: 1300 88 8800
Telephone No: 03-2297 1888
Fax No: 03-2171 3000
Fax No: 03-2297 1800
E-mail: amassurance-life@ambankgroup.com
Oneline Contact Centre: 1-300-13-8888
http://www.amassurance.com.my
Email: info@etiqa.com.my
http://www.etiqa.com.my
American International Assurance Bhd Great Eastern Life Assurance (Malaysia)

Menara AIA Berhad
99 Jalan Ampang Menara Great Eastern
50450 Kuala Lumpur 303, Jalan Ampang
Telephone No: 03-2056 1111 50450 Kuala Lumpur
Fax No: 03-2056 2992 Telephone No: 03-4259 8888
E-mail: corporate-ops.my@aia.com Fax No: 03-4259 8000
http://www.aia.com.my Email: wecare@lifeisgreat.com.my
http://www.lifeisgreat.com.my
AXA AFFIN Life Insurance Berhad Hannover Life Re, Malaysian Branch
8th Floor Chulan Tower Suite 31-1, 31st Floor
3 Jalan Conlay Wisma UOA II
50450 Kuala Lumpur No. 21, Jalan Pinang
Email: customer.care@axa-life.com.my Fax No: 03-2164 5129/03-2164 6029
http://www.axa.com.my http://www.hannoverlifere.com

38
Hong Leong Assurance Berhad Mayban Life Assurance Berhad
Level 3, Tower B, PJ City Development Level 19, Tower C
No. 15A Jalan 219, Seksyen 51A Dataran Maybank
46100 Petaling Jaya, Selangor No. 1, Jalan Maarof
Customer Service Hotline: 03-7650 1288 Fax No: 03-2297 1800
Customer Service Hotfax: 03-7650 1299 Oneline Contact Centre: 1-300-13-8888
http://www.hla.com.my E-mail: info@etiqa.com.my
http://www.etiqa.com.my

Menara ING MCIS ZURICH Insurance Berhad
84 Jalan Raja Chulan Wisma MCIS ZURICH, Jalan Barat
P.O. Box 10846 46200 Petaling Jaya, Selangor
50927 Kuala Lumpur Telephone No: 03-7955 2577
Telephone No: 03-2058 4838 Fax No: 03-7957 5964
Fax No: 03-2161 0549 E-mail: info@mciszurich.com.my
Toll Free: 1 800 88 0303 http://www.mciszurich.com.my
http://www.ing.com.my

Malaysian Assurance Alliance Berhad Level 17, Menara Prudential
11th Floor, Menara MAA 10, Jalan Sultan Ismail
No. 12, Jalan Dewan Bahasa 50250 Kuala Lumpur
50460 Kuala Lumpur Telephone No: 03-2031 8228
Telephone No: 03-2146 8000 Customer Service Tel: 03-2116 0228
Fax No: 03-2142 5863 Fax No: 03-2032 3939
http://www.maa.com.my E-mail: customer.mys@prudential.com.my
http://www.prudential.com.my
Malaysian Life Reinsurance Group Berhad

3B/21-3 Block 3B TM Asia Life Malaysia Bhd.
Level 21, Plaza Sentral Ground Floor
Jalan Stesen Sentral 5 Menara TM Asia Life
Kuala Lumpur Sentral 189, Jalan Tun Razak
Fax No: 03-2780 6622 Fax No: 03-2162 8068
Email: info@mlre.rgare.com E-mail: customercare@tmasialife.com.my
http://www.tmasialife.com.my

12th Floor, Menara Manulife Uni.Asia Life Assurance Berhad
6, Jalan Gelenggang 8th Floor, Bangunan Uni.Asia
Damansara Heights 16 Jalan Tun Tan Siew Sin
Fax No: 03-2094 0573 Fax No: 03-2031 4689
http://www.manulife.com.my http://www.uniasialife.com.my

39
Designed and Printed by: SP-Muda Printing Sdn. Bhd.
Life Insurance Association of 41, Jalan Ipoh ANNUAL
No.Malaysia REPORT
Kechil, Off Jalan 2009Kuala Lumpur.
Ipoh, 50350
40 Tel : 03-4041 4829, 4041 0649, 4041 4734 Fax : 03-4041 6045, 4043 4908

Liam Annual2009

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P ontents

Members of the Management Committee

11 Management Committee 2009 – 2010

12 Committees and Working Committees 2009 – 2010

18 Report of the Management Committee

32 Performance of the Life Insurance Industry

Life Insurance Association of Malaysia

Life Insurance Association of Malaysia ANNUAL REPORT 2009

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Life Insurance Association of Malaysia ANNUAL REPORT 2009

LIAM Responds to Influenza A(H1N1)

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Life Insurance Association of Malaysia ANNUAL REPORT 2009

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Life Insurance Association of Malaysia ANNUAL REPORT 2009

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Life Insurance Association of Malaysia ANNUAL REPORT 2009

American International Assurance Bhd Malaysian Assurance Alliance Berhad

CIMB Aviva Assurance Berhad MCIS ZURICH Insurance Berhad

Main Representative : Mr Kevin Jones Main Representative : Encik Md Adnan Md Zain

Etiqa Insurance Berhad Uni.Asia Life Assurance Berhad

Great Eastern Life Assurance (Malaysia) Berhad

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Members Ms Caroline Tee

Bancassurance Committee Mr Raymond Lew Yung Chow

Life Insurance Association of Malaysia ANNUAL REPORT 2009

Mr Chuah Chin Seong Ms Kang Poh Lee

Ms Caroline Tee Mr Andy Ng

Mr Song Hock Wan Mr Ho Ming Kee

Ms Loh Guat Lan Mr Woo Man Loong

Ms Rosalind Yu Chwee Kum Mr Joseph Anthony Illingworth

Mr John Leong Choon Wai Mr Albert Khor

Mr Jeffrie Teh Cheng Keat Mr Pakea Nathan a/l Chelliah

Encik Azlanshah Mohamed Yusof Ms Yeo I-Peng

ANNUAL REPORT 2009 Life Insurance Association of Malaysia

Ms Leong Pei Yee Ms Ho Swee Ying

Mr Ravinder Singh Mr Steven Chow

Ms Geraldine Wong Mr Richard Lin

Puan Haslina Hamidan Ms Joanne Marie Lopez

Mr Daniel Han Mr Mark Wang

Puan Roziana Mohd Yatim Mr Danny Choong Yick Kheong

Puan Norliza Alias Mr Yeow Kok Kien

Ms Susan Ong Mr Yoon Mun Thim

Mr Wilson Tang Mr Tan Sze Teck

Encik Rizal Fadil (until September 2009) Mr Geoff Aw

Investment Committee Encik Mohd Din Merican

Ms Philomena Jan Mr Henry Tham

Life Insurance Association of Malaysia ANNUAL REPORT 2009

Mr Christopher Woon Mr Ooi Sze Chuan

Mr Chris Cheong Mr K’ng Tuan Kah

Mr Jimmy Wong Ms Wong Kim Hoe

Mr Goh Kim Lai

Mr William Ng Cheng Chuan

Mr Lee Goon Hong Members

IT SECTION Mr Adit Trivedi

Mr Dave Giam Hock Hai Mr Steven Visvalingam

Mr Cheah Swee Chong Encik Yahya Adnan Ahmad

Mr Dang Kok Heng Mr Lok Hoe San

Mr Chan Yuet Wah Mr Yap Chee Keong

Ms Melissa Low Kim Boey Ms Sophia Ch’ng

Mr Lee Pooi Hor Mr Seow Fan Chong

ANNUAL REPORT 2009 Life Insurance Association of Malaysia