<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Perbadanan Insurans Deposit Malaysia (PIDM) will incorporate a system for risk assessment and monitoring of insurer members in its Corporate Plan 2015 to 2017.</p></div>

<div class=newsTextDataWrapInner><p>It said in a statement yesterday, the rating prediction model for the takaful and insurance benefits protection system will predict any changes to member institutions’ existing ratings.</p></div>

<div class=newsTextDataWrapInner><p>PIDM has budgeted for revenue of RM439 million and operating expenses of RM109 million, resulting in a projected net surplus of RM330 million this year.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>By end-2015, the surplus in the deposit insurance funds will amount to RM1.2 billion and the takaful and insurance benefits protection funds will total RM1.3 billion. Both funds are accumulated reserves to cover losses that may arise from providing protection to depositors and policy owners.</p></div>

<div class=newsTextDataWrapInner><p>PIDM chief executive officer Jean Pierre Sabourin said the organisation’s emphasis is on long-term sustainability.</p></div>

<div class=newsTextDataWrapInner><p>On premiums and levies assessments, PIDM plans to implement a revised differential premium system for banks this year and will also continue to develop a differential levy system&nbsp; framework for takaful operators, which is targeted for implementation in 2016.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily, </em>on February 11, 2015.</p></div>


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