The Life Insurance Association of Malaysia (LIAM) has denied issuing any public information regarding the ranking of life insurance companies in Malaysia.
In a statement released in Kuala Lumpur on March 2, LIAM clarified that the few advertisements placed by a life insurance company recently claiming it was ranked the No.1 life insurer in Malaysia, was inaccurate.
The insurer according to LIAM, cited it as the source of the ranking. But LIAM stated the ranking was not endorsed by it.
LIAM, which has 18 members, of whom 16 are life insurance companies and two life reinsurance companies, however did not name the company.
LIAM meanwhile said that the unfavourable investment and economic conditions had resulted in a slowdown in the sales of investment linked products, which recorded a decrease of 32.6%. — Bernama (Mar 2, 2009)
Subscribe to:
Post Comments (Atom)
Life insurance provides for the payment of the sum assured only if the life assured dies within a specified period. If the life assured does not die, the policy ceases and the premiums paid are retained by the Insurance Malaysia.
ReplyDelete