The Asia Pacific Life Insurance Council (APLIC Council) was formed in September 1991, when the inaugural meeting was held in Singapore, attended by the Presidents of the National Life Underwriter Associations from Australia, Hong Kong, Malaysia, New Zealand, Philippines, Singapore and Thailand.
Keeping abreast of the many changes in the insurance industry, many of the National Life Underwriter Associations in the region have shifted their focus to the financial service with name changes. In line with this change, the APLIC Council changed its name to the Asia Pacific Financial Services Association (APFinSA) on July 2003, locating its Secretariat in Singapore.
Today, eleven countries are represented. More than 8,000 delegates attend the bi-annual congress, making it the largest financial services congress in the region.
With one voice, APFinSA serves as the leading speaking platform for industry issues in the region. In addition, APFinSA aims to assist the formation of national associations in the other regional countries and/or territories.
The objectives of the Association are:
- To promote professional fraternity among life insurance sales professionals in the Asia-Pacific Region;
- To encourage the enhancement of educational and professional standards of life insurance sales personnel in the Asia-Pacific Region;
- To promote cooperate and exchange of sales, business and technical ideas and practices among members of the life insurance sales profession;
- To share legislative, social, economic and industry changes, affecting the life insurance industry, between the member countries of the Association;
- To assist the life insurance intermediary representative bodies of member countries of the Association to represent and promote the interests of life insurance and financial services intermediaries and their profession within their own countries and throughout the Asia-Pacific region;
- To assist member countries or the Association in informing the public within their respective countries and throughout the Asia-Pacific region of the benefits of life insurance and financial services products; and
- To encourage the member countries of the Association to prescribe for their individual members and to maintain in the industry a high standard of ethical conduct.