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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.


On average, how many CEOs does an insurance company have over a 5-year period?

The general perception is CEO's job is insecure, especially given that all CEOs are on contract and their job and renewal of their job is subject to the approval of both Board of Directors and BNM.

Do Takaful companies have higher CEO turnover than conventional companies?

Where do CEOs end up when they leave their job?

In this special report of Insurance News, we attempt to answer the above questions by studying the past 5 years' history. Before we reveal the answers, why don't you take a guess and see how close you are to the actual facts.


We compiled our statistics based on publicly available information such as annual reports of insurance companies, newspaper articles and reliable sources on the internet. The period of our study is from 2010 to 2015. The companies included in our study are Life and Composite insurance companies and Family and Composite Takaful operators in Malaysia. We have excluded general insurance companies and general takaful operators, as well as all reinsurance companies and retakaful operators. We have also excluded companies that were acquired and merged into other companies (e.g. ING).

While we cannot guarantee 100% accuracy of the statistics we compiled, the figures we present below should fairly represent the true picture.

Average Number of CEOs over a 5-year Period

Type Average Number of CEOs
Conventional Life and Composite 2.1
Family and Composite Takaful 1.8

On average, conventional companies had 2.1 CEOs over the 5-year period while takaful operators had 1.8.

Number of CEOs over a 5-year Period

Number of CEOs Number of Conventional Companies Number of Takaful Operators
1 3 4
2 8 5
3 1 2
4 2 0

For conventional companies, the most common scenario is 2 CEOs over the 5-year period.  8 companies were in this category. Similarly, 2 CEOs over the 5-year period is also the most common case with 5 takaful operators in the category.

Where do CEOs go?

It is not as easy to answer this question as the whereabouts of the CEOs are not always made known to the public. After leaving their job, the CEOs may end up:

  • Being transferred back to regional/head office
  • Joining another company
  • Moving out of the insurance industry
  • In retirement (normal as well as early retirement)

We leave it to you to speculate which category is the most common. There are always unconfirmed market talks on why CEOs leave their jobs and whether CEOs leave voluntarily or asked to go. As these are unconfirmed sources, we will not include them here.

So, is CEO job secure after all? My personal opinion is there is no such thing as job security nowadays, whether you are a CEO or not. The difference some may argue is if you have gone all the way to the top as CEO, if you ever lose your job, there are far fewer options that you have.

Do you agree?

***You may also enjoy reading our blog on Actuarial Brain Drain***

Thursday, March 19, 2015 4:25:00 PM Categories: Executive Movement
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