Life Insurance Association of Malaysia or LIAM was formed back in 1974 under the Societies Act 1966. In total, LIAM has 16 members, 14 of which are life insurance companies and 2 life reinsurance companies.
The objective of LIAM is to promote a progressive life insurance industry, upgrade the image and professionalism of the life insurance industry, enhance the public understanding and appreciation for life insurance as well as supporting the regulatory authorities in developing a strong life insurance industry.
Mission and Vision
- To promote and establish a sound structure in Malaysia
- To promote public understanding and appreciation for life insurance
- To enhance the professionalism of staff and agents through continuous training and education
- To formulate rules and guidelines to instill good business practices
- To give support to regulatory authorities in developing a strong and healthy industry
- To improve the image of the life insurance industry through self-regulation