What it does: Corporate insurance, financial planning, financial advisory, and individual insurance products and services.
Best known for Great Eastern is the biggest and oldest life insurance company in Malaysia with RM91.1 billion in assets.
Staff stats: More than 19,000 agents nationwide.
The good bits: accelerated career progression for graduates through the Corporate Management Associate Programme.
The not-so-good bits: Some regional offices, particularly in Indonesia, observe an age limit for entry-level roles.
Great Eastern Life began its operations in 1908 as a branch office of The Great Eastern Life Assurance Company Limited. The Malaysian operations were subsequently transferred to a locally incorporated public company, GELM under the Scheme of Transfer of Business. The Company was certified by The Malaysia Book of Records in 1998 as “The Oldest and Largest Life Insurer” in Malaysia.
(GEGM) started operations in Kuala Lumpur in 1954 as a branch of the Great Eastern General Insurance Limited, Singapore (GEGS), formerly known as Overseas Assurance Corporation Limited. GEGM’s early focus was on general insurance but it expanded its life insurance business in 1963, making it one of the earliest composite insurers in Malaysia.
In 1998, the branch operations were restructured to become a locally incorporated subsidiary of GEGS to comply with the requirements of the Malaysian Insurance Act 1996.
By 2000, GEGM was one of the largest providers of life, health, and general insurance in Malaysia, serving a customer base of more than 500,000 policy owners with total assets exceeding RM2.5 billion. With the merger of GEGS and GEH in December 2000, GEGM's life insurance business was transferred to GELM in September 2001. Arising from this development, GEGM is now a pure general insurance operator that spearheads the Great Eastern Group’s development and expansion in the general insurance sector.
GEGM had officially acquired the general insurance business of Tahan Insurance Malaysia Berhad (Tahan) with effect from 1 January 2011. Following the acquisition, Tahan’s entire general insurance business was transferred to GEGM.
Over the years, we have won many prestigious accolades in affirmation of our industry leadership. In 2021, GELM made history by becoming the only life insurance company to be conferred the prestigious Reader’s Digest Trusted Brand Gold Award in the Life Insurance category for the 18th consecutive year. Additionally, GELM bagged Gold in the category of Health Insurance for the 4th consecutive year. The company also won The BrandLaureate Brand of the Year Award for Insurance Category in 2020 and was awarded Top Brand in Putra Brand Awards' Banking, Investment, & Insurance category for two consecutive years amongst many other awards.
Great Eastern Life follows a specific routine for hiring candidates that varies slightly between regions. Recent graduates can pursue a full-time role through the ‘Corporate Management Associate Programme’ (CMAP). They should prepare for video interviews, a ‘hackathon’ assessment to solve real-life business problems, and panel interviews with company leaders.
Students not ready to graduate can apply for an internship through the ‘Great Step Programme’ that focuses on actuary, finance, marketing, and risk roles. CMAP usually accepts applications at the start of every year and ends before the second quarter.
Applicants can apply online through the company website or a third-party job portal. Graduates should also submit a hard copy of their CV by snail mail. An in-person interview usually follows if you are short-listed for the vacancy. A second assessment or interview may be necessary before the company decides on a job offer.
The company encourages fresh graduates to apply as associates for the digital and affinity marketing unit. They must have a degree in business, marketing, or a related field of study. Experience isn’t necessary to join Great Eastern Life as an associate in the customer due diligence and finance departments.
The compensation structure for entry-level roles includes an incentive scheme, medical coverage, local and overseas convention trips. Some employees reportedly receive meal allowances.
Interns earn up to MYR1,000 per month on average. The median salary for associates and management trainees ranges from MYR3,000 and MYR4,000 per month. Employees are eligible for bereavement and sick leave, employee discounts, life and health insurance, performance bonuses, remote work options, 21 days of paid time off every year, and an MYR2,000 dental benefit.