Grounds of Decision by the Competition Appeal Tribunal (CAT) on PIAM and its 22 members
PIAM and 23 Others v Competition Commission (Grounds of Decision)
GENERAL INSURANCE INDUSTRY PREMIUM GREW BY 10.3% AND UNDERWRITING PROFIT CONTRACTED IN 1H 2022
Kuala Lumpur, 4 November 2022 – The general insurance industry has registered an increase in gross direct premiums of 10.3% to RM 9.8 billion for the first six months of 2022 compared to the same period last year. However, underwriting profit had contracted by 21.2% to RM 810 million, largely due to losses in Motor [...]
PIAM WELCOMES THE COMPETITION APPEAL TRIBUNAL’S DECISION TO DISMISS MYCC’S FINDING OF INFRINGEMENT
Kuala Lumpur, 9 September 2022 – Persatuan Insurans Am Malaysia (PIAM) and its members welcome the decision issued by the Competition Appeal Tribunal (“CAT”) on 2 September 2022 unanimously setting aside the Final Decision of the Malaysia Competition Commission (“MyCC”) dated 14 September 2020 against PIAM and 22 general insurers in its entirety. The financial [...]
PIAM’s Statement on Utusan TV Allegations on Perlindungan Tenang Vouchers
Kuala Lumpur, 12 August 2022 – With reference to the allegations featured in thearticle titled “Lanun insurans rompak Baucar Perlindungan Tenang besar-besaran?”,aired on Utusan TV on 10 August 2022 pertaining to the Perlindungan Tenang Voucher (PTV) programme, Persatuan Insurans Am Malaysia (PIAM) was made aware that an individual had claimed to represent PIAM in a [...]
CLOSURE OF CSR FLOOD RELIEF FUND
Kuala Lumpur, 7 June 2022 - Persatuan Insurans Am Malaysia (PIAM) is announcing the closure of the CSR Flood Relief Fund (CSR Fund), effective 15 June 2022. The CSR Fund with contribution amounting to RM2.43 million was set up in January 2022 by PIAM and its members, to alleviate the hardship faced by owners of [...]
PIAM APPOINTS BOARD OF DIRECTORS FOR 2022 – 2024
Kuala Lumpur, 11 May 2022 - Persatuan Insurans Am Malaysia (PIAM) announced the appointment of a 10-member Board of Directors for 2022 – 2024, at the association’s 44th Annual General Meeting. Mr. Antony Lee, Chief Executive Officer (CEO) of AIG Malaysia Insurance Berhad was elected as Chairman of the Board for a two-year term, [...]
Flood cover is available, affordable and accessible, says PIAM
Kuala Lumpur, 22 January 2022 – The recent flash flood that hit Malaysia has affected many people nationwide. The flood risk is likely to persist during this monsoon season and it is of huge concern as many Malaysians are still uninsured against flood. Most Malaysians are uninsured against flood Only 4% of motor (comprehensive) policies [...]
PIAM and MTA Launches 2022 Nationwide Road Safety Campaign
KUALA LUMPUR, 13 January 2022 - In an endeavour to reduce road accidents and fatalities as well as to foster greater road safety awareness amongst road users, the Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) jointly kickstarted the year-long PIAM-MTA 2022 Nationwide Road Safety Campaign in Kuala Lumpur (“Campaign”) today. [...]
PERLINDUNGAN TENANG VOUCHER PROGRAMME – Launch of Second Phase – 2021 Bantuan Prihatin Rakyat’s Single and Senior Citizen Recipients Can Now Check their Eligibility Starting from 15 November 2021
All eligible BPR 2021 recipients should redeem their vouchers by 31 December 2021 Kuala Lumpur, Tuesday, 16 November 2021– The insurance and takaful industry wishes to announce the launch of Phase 2 of the Perlindungan Tenang Voucher (PTV) programme effective 15 November 2021 onwards. Under the 2nd phase, the PTV programme offers social [...]
GENERAL INSURANCE INDUSTRY LAUDS BUDGET 2022 FOR ENHANCED SUPPORT FOR MICRO/SME AND SOCIAL PROTECTION FOR B40
Kuala Lumpur, 8 November 2021 – Persatuan Insurans Am Malaysia (PIAM) lauds and supports the Government’s initiatives in enhancing social protection through incentives to assist the B40 households and micro, small and medium business segments under the Budget 2022. The government’s initiatives will assist in promoting financial resilience of the economically disadvantaged and [...]
