Zurich Malaysia today announced the appointment of Khoo Ai Lin as the Chief Executive Officer of its life insurance business, Zurich Life Insurance Malaysia Berhad (ZLIMB), with immediate effect. She succeeds Stephen Clark, who continues to hold the position of executive director for ZLIMB.
Khoo has over 20 years' experience in the insurance industry in Malaysia, having held positions in AIG Malaysia, Hong Leong Assurance Bhd, Prudential Assurance Malaysia, and most recently homegrown Tune Protect Group, where she was CEO from 2017 to 2020. In her new role, she will be responsible for leading and executing Zurich Malaysia's strategic priorities to grow its life insurance business.
"Ai Lin has excellent understanding of the insurance markets in Malaysia with a compelling breadth of expertise ranging from life to general insurance as well as digital platforms and innovation in her portfolio," Clark said of her appointment. “With Ai Lin on board, I am confident that we will be able to scale the business by strengthening our distribution and partnership channels, and develop unique customer propositions.”
Life insurance accounts for approximately 70 percent of the Malaysian insurance industry's non-health-insurance revenue. In 2020, the sector managed to sustain moderate growth despite COVID-19 lockdowns, according to figures from the Life Assurance Association of Malaysia.