What this blog is about?

Purpose: This blog provides brief insurance news and digest for the busy executives. It is a handy archive covering major insurance news in Malaysia and nearby countries. 

Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we are not liable for any loss arising from the use of any information contained in this blog.

Reproduction: You may reproduce materials published here provided that the source (actuaries.com.my/insurance-news) is properly acknowledged.

Public can now verify status of agents 

The public can now verify the status of the insurance agents by SMS or via LIAM's websiteTAS160129a

Friday, January 29, 2016 6:57:00 PM Categories: LIAM
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Life insurance industry suffered negative growth 

Life insurance NB weighted premiums dipped 0.7% in 1H 2015 compared with the same period last year. The gross sum assured on the other hand rose 8.1%. http://j.mp/TAS150817a

Monday, August 17, 2015 8:33:00 PM Categories: LIAM
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Toi elected as LIAM's new President 

Toi See Jong has been elected as the new President of LIAM at LIAM's AGM held last week. Toi replaces Kwo who has helmed LIAM for the past 3 years and stepped down after serving the maximum term of 3 years. http://j.mp/TAS150406a

Monday, April 6, 2015 12:21:00 PM Categories: LIAM
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Life insurance GST status 

Whole life, endowment, term, education and annuity products are exempted from GST while non-life riders are subject to GST, according to LIAM. Fees and charges imposed on investment-linked polices are also subject to GST. http://j.mp/TAS150306a

Friday, March 6, 2015 9:33:00 PM Categories: LIAM Tax
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Life insurance industry expects strong single digit growth in 2015 

The life insurance industry's new business APE grew 5.5% in 2014 to reach RM4.71 bil. The sum assured per capita increased to RM38,449 in 2014 from 36,387 in 2013. For 2015, the industry is expected to achieve a strong single digit growth. http://bit.ly/TAS150213a

Friday, February 13, 2015 6:40:00 PM Categories: LIAM Outlook
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Insurers paid RM16.8 million in MH370 claims 

The life insurance industry paid a total of RM16.8 mil in MH370 claims. This involves a total of 185 policies that were issued by 14 life insurance companies. http://bit.ly/TAS150130a

Friday, January 30, 2015 8:53:00 PM Categories: LIAM
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LIAM's response to Budget 2015 

LIAM welcomes the increase in tax relief for treatment of serious diseases but hopes that the current tax relief for medical and education insurance can be increased from RM3,000 to RM6,000. http://bit.ly/TAS141011a

Saturday, October 11, 2014 11:20:00 PM Categories: Budget LIAM
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