ASEAN INSURANCE COUNCIL (AIC)

ASEAN Insurance Council (AIC) is envisioned to be the main regional platform for insurance leaders, professionals and practitioners to network and share their knowledge and expertise in various areas of the insurance business. 

AIC is positioned to be strong, prestigious, and well-organized, to facilitate cooperation and collaboration among its members and with external partners, for a more resilient & sustainable development of the insurance industry.

AIC - Background

In the effort to implement a series of Key Objectives, ASEAN has established various working groups to cater to a variety of developmental issues in many areas and one of them is AIC (ASEAN Insurance Council). 

The Agenda to establish the Insurance Council within ASEAN was included during the ASEAN Meeting in Jakarta. It was in 1978. Then, the initiative was formally approved in 1983 in which AlC has officially acquired its formal status as a Non-Governmental Organization (NGO).

AIC - Objectives
  • To promote the development of insurance and reinsurance in the Region, with due respect to the aspirations, laws and regulations of Member Countries;
  • To promote regional co-operation in all areas of insurance and reinsurance;
  • To establish, promote and co-ordinate institutions of learning and training in the specialized fields of, or relating to insurance or reinsurance in the Region;
  • To conduct workshops, conferences and seminars, to publish a journal and to establish standing or ad hoc commissions for current insurance, reinsurance or related affairs of the Region;
  • To establish statistical and information centers of insurance and reinsurance in the Region;
  • To provide industry information to the insurance supervisory authorities of Member Countries upon which legislation to be made or reviewed could be based;
  • To cooperate with other associations and/or organizations with similar objectives established within the Region, East Asia, The Asia Pacific region, The European Community and/or any other region of the world;
  • To perform any such acts or to do any such things as may be necessary for the attainment of the above objectives.
AIC - Organizational Structure

Apart from the main objectives as well as other operational guidelines, The ASEAN Insurance Council adopted a specific organizational structure throughout its years of operations. It has been determined by the council that the AIC body must consist of:

  • A Chairperson of the Council
  • Representatives from 15 AIC Council Members
  • A Secretary-General
  • An Executive Director
  • The Secretariat
AIC Members

Brunei Insurance and Takaful Association (BITA)

Insurance Association of Cambodia (IAC)

General Insurance Association of Indonesia/ Asosiasi Asuransi Umum Indonesia (AAUI)

Indonesia Life Insurance Association/ Asosiasi Asuransi Jiwa Indonesia (AAJI)

Lao Insurance Association (LIA)

General Insurance Association of Malaysia/ Persatuan Insurans Am Malaysia (PIAM)

Life Insurance Association of Malaysia/ Persatuan Insurans Hayat Malaysia (LIAM)

Myanmar Insurance Association (MIA)

Philippine Insurers and Reinsurers Association (PIRA)

Philippine Life Insurance Association (PLIA)

General Insurance Association of Singapore (GIA – Singapore)

Life Insurance Association of Singapore (LIA – Singapore)

Thai General Insurance Association (TGIA)

The Thai Life Assurance Association (TLAA)

Insurance Association of Vietnam (IAV)

Affiliated Members:

General Insurance Association of Japan (GIAJ)

Indonesia Shariah Insurance Association/Asosiasi Asuransi Syariah Indonesia (AASI)

Malaysian Takaful Association (MTA)

Secretary-General
Board Members 2024
Chairperson (1978 - present)