Page 66 - LIAM Annual Report 2021

Life insurance association of MaLaysia 64

REPoRt oF thE managEmEnt committEE

wEBinaR on EnviRonmEntal, social and
govERnancE on climatE changE and
BusinEss sustainaBility on insuRERs

As with many other sectors, Environmental, social and governance
(ESG) issues have found their way into risk analysis in the insurance
industry. Life insurers should prepare for the impact of climate
change as it is one of the risk factors to be considered when making
investment choices. Life insurers are in the business of managing
long-term financial risks, hence there is a need to ensure that
sustainable financing is key in selecting the portfolio of investments.

To have a better understanding of Esg risks and how to integrate
these into the companies’ operations, LIAM collaborated with KPMg,
a leading provider of audit, tax and advisory services in Malaysia, to
organise a webinar on “Environmental, social and governance on
Climate Change and Business sustainability on Insurers” for member
companies on 28 April 2021.

In her presentation, the speaker, KPMg Malaysia executive director
Phang Oy Cheng, spoke on key global ESG risks, ESG risks identified
for the life insurance industry, Esg regulatory requirements and
industry best practices. she also shared multiple case studies on how
insurance companies would be able to better manage Esg risks.

The webinar was attended by some 120 participants from member
companies comprising among others, CEOs and heads of Risk
Management, Investments, Corporate Planning and strategy,
Finance, Compliance, Actuarial and Product Development.

thE staR wEalth
summit 2021

LIAM was invited to The Star Wealth Summit on 10 June 2021,
which was organised by The star Media group Berhad as part
of its 50 Anniversary’s knowledge-sharing and educational
th
initiative. It was specially curated to equip Malaysians with key
wealth management knowledge to make prudent financial
decisions.

LIAM CEO Mark O’Dell, Manulife Insurance Berhad CEO/LIAM
management committee member Vibha Coburn, and hong
Leong MsIg Takaful CEO Mohd Asri bin Omar invited to discuss
on the topic of “Life Protection Through Insurance and Takaful:
Need or Want?” The discussion session was moderated by
Financial Planning Association of Malaysia CEO Linnet Lim.

The discussion served as a platform to help consumers
understand the importance of life insurance protection and for
them to consider the big picture when planning and managing
their financial health so they can make informed choices.