The Life Insurance Association of Malaysia (LIAM) has appointed Ben Ng, chief executive officer of AIA Bhd, as its new president following its 51st Annual General Meeting on March 26.
Vibha Coburn, who leads Manulife Insurance Berhad as CEO, was named vice president for the term.
Ng assumes the position from Raymond Lew, who previously served in both the president and vice president roles at LIAM for more than five years.
Ng has worked in the life insurance sector for over 30 years, including 22 years in international roles. He is one of the few Asian professionals to hold dual fellowships with both the Society of Actuaries (FSA) and the Casualty Actuarial Society (FCAS).
Since taking over AIA Bhd in 2019, Ng has overseen operations across insurance, takaful, and private retirement schemes in Malaysia.
Coburn brings extensive regional and global experience, with more than three decades in banking, insurance, and consulting.
She joined Manulife in 2020 and holds dual roles as CEO of Manulife Holdings Berhad and Manulife Insurance Berhad. Her previous role as chief regional distribution officer for Manulife Asia involved leading distribution growth and agency development.
LIAM also confirmed two new appointments to its management committee:
They will serve for the 2025/2026 term.
Other continuing committee members include:
LIAM CEO Mark O’Dell said the association remains focused on improving insurance literacy and access.
“We continue to engage with the public through multiple platforms, implementing targeted education and awareness initiatives to improve financial literacy and enhance the financial well-being of Malaysians,” he said.
He added that LIAM will collaborate with industry stakeholders to expand insurance coverage and promote inclusive growth.
These leadership changes occur as Malaysia’s life insurance industry anticipates steady growth, backed by favourable economic and demographic trends. A report from GlobalData projects the market to grow at a compound annual rate of 5.2% through 2028, with direct written premiums expected to reach MYR77.3 billion (US$17.2 billion).
In India, the Insurance Brokers Association of India (IBAI) has named Narendra Kumar Bharindwal as its new president.
Bharindwal, who has worked in insurance broking and regulatory advisory for more than 20 years, will lead IBAI through what he describes as a period of transformation driven by technology and evolving customer needs.
Bharindwal said he will focus on advocating for policies that support brokers and raise public awareness around the value of insurance.
The IBAI board also appointed Mohan Sriraman and Surender Kumar Tonk as vice presidents, Nirmal Bazaz as honorary secretary, and Ashok Kumar Jain as honorary treasurer.
The appointments follow the conclusion of Sumit Bohra’s term.
