KUALA LUMPUR: The Life Insurance Association of Malaysia (LIAM) has re-elected Hong Leong Assurance Bhd (HLA) group managing director and chief executive officer (CEO) Loh Guat Lan as its president for the 2022/2023 term.

       The association also re-appointed Sun Life Malaysia Assurance Bhd CEO and president Raymond Lew as its vice-president for the same term at its annual general meeting on Wednesday.

       In a statement today, LIAM said it also welcomes Zurich Life Insurance Malaysia Bhd CEO Khoo Ai Lin as its new management committee member for the 2022/2023 term.

       The association is also supported by six other committee members, namely AIA Bhd CEO Ben Ng, Etiqa Life Insurance Bhd CEO Paul Low Hong Ceong, Great Eastern Life Assurance (M) Bhd CEO Datuk Koh Yaw Hui, Manulife Insurance Bhd CEO Vibha Coburn, Prudential Assurance Malaysia Bhd CEO Lim Eng Seong, and Tokio Marine Life Insurance Malaysia Bhd CEO Toi See Jong.

       LIAM CEO Mark O’Dell said over the years, the association has been consistently promoting the importance of life insurance protection to all Malaysians, and enhancing the public’s understanding and appreciation for life insurance through its various engagement programmes as well as consumer education campaigns on various platforms, including social media.

       "We work very closely with Bank Negara Malaysia and other key stakeholders in fulfilling the industry’s agenda to improve financial literacy and financial well-being of Malaysians,” he said.

       O’Dell said through LIAM’s consumer education programmes, the association highlights the virtues of life insurance and continues to educate the consumers on how the various types of life insurance policies could help meet their needs and play a crucial part of a sound financial planning.

       "We also inculcate high standards of professionalism and integrity in our staff and agents through best practices to engender trust in the industry,” he said.

       He also gave assurance that the life insurance industry remains committed and focused in pursuing its financial inclusion agenda, as well as the national aspiration of increasing the penetration rate and narrowing the protection gap in the country. - Bernama