What are the most significant cases or transactions that your legal team has recently been involved in?

I started out as the general counsel for Zurich Insurance Malaysia Berhad, a composite insurance company. In 2016, Zurich acquired MAA Takaful, a composite Takaful operator, and was renamed Zurich Takaful Malaysia Berhad. Pursuant to Financial Services Act 2013 and Islamic Financial Services Act 2013, we have converted the composite licenses into 4 separate licenses; Life, General, Family Takaful and General Takaful business. Zurich in Malaysia remains the only MNC with 4 licenses.

Another significant case is the legal action by the Malaysian Anti Competition Commission (MyCC) against all general insurance companies in Malaysia regarding the fixing of motor vehicle spare parts and labour rates. This has been ongoing for over six years. MyCC found all general insurance companies guilty of anti-competitive practices and imposed a hefty fine against them. However, the Competition Appeal Tribunal (CAT) has reversed the decision by MyCC. The case is pending appeal.

How do you see the general counsel role evolving in Malaysia over the next five-ten years?

The general counsel will be a business partner to while protecting the company from legal risks. The general counsel will need to be an all-rounder and well versed in market operations, such as regulation and competition.

How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?

General counsel need to balance the quality of the legal work with legal costs, as the legal department is usually seen as a cost centre. Hence, it is especially important for selected legal firms to align with company values toward costs and do more with reasonable fees.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? Which have you found most useful in your legal team?

It is possible that Artificial Intelligence will impact the role of in-house counsel, and the group is looking at ways AI can assist with legal work. However, it is important to note that there is always a limit on what AI can do, as opposed to a traditional legal team.

How do you suggest in-house lawyers build strong relationships with business partners?

They must have a thorough understanding of the business and not provide generic solutions to problems faced by it. As we are in the financial industry, which is highly regulated, it is vital to possess the ability to clearly communicate regulatory requirements to business partners.

What are some of the main legislative or regulatory changes that have impacted you?

The main legislative and regulatory changes that have impacted me are various parts of the Bank Negara Guidelines and the Personal Data Protection Act 2010.