AEIR 2023

Money and Finance

ASEAN Insurance Council (AIC)

The ASEAN Insurance Council (AIC) was established on April 4, 1978 to be a regional platform for insurance leaders, professionals and practitioners to network and share their knowledge as well as their expertise in various areas of insurance business for the development of insurance industry in ASEAN region, especially in welcoming the ASEAN Economic Community 2015. AIC is an organization under ASEAN which comprises 13 members of insurance associations from 8 ASEAN member states including the Brunei Insurance and Takaful Association (BITA); the Insurance Association of Cambodia (IAC); the Life Insurance Association of Indonesia (AAJI); the General Insurance Association of Indonesia (AAUI); PersatuanInsurans Am Malaysia (PIAM); the Life Insurance Association of Malaysia (LIAM); the Philippine Life Insurance Association, Inc (PLIA); the Philippine Insurers & Reinsurers Association, Inc (PIRA); the General Insurance Association of Singapore (GIA); the Life Insurance Association of Singapore (LIA); the Thai General Insurance Association (TGIA); the Thai Life Assurance Association (TLAA); and the Association of Vietnamese Insurers (AVI). The objectives of the AIC are:

  • To promote the development of insurance and reinsurance in the Region, with due respect to the aspirations, laws and regulations on 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.