Malaysia Insurance Industry

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Malaysia Insurance Industry

Description

Malaysia: Insurance covers the industry overview, asia pacific insurance sector, malaysia insurance sector, life insurance, general insurance, takaful insurance, and regulatory issues. It also covers the market trends and outlook, financial sector master plan and demographics, plus the profile, comparative matrix and SWOT analysis of the industry leading players: Great Eastern Assurance Bhd, Prudential Assurance Malaysia Bhd, ING Insurance Bhd, Kurnia Insurans Malaysia Bhd and Allianz Malaysia Bhd.

Summary

The Financial Sector Master Plan (FSMP) was launched in 2000 to chart the future direction for the financial system over the next decade and aimed to achieve a diversified, effective, efficient and resilient financial system. Over the years, FSMP has formulated the development of the insurance sector's progress. Through liberalizations, Malaysia insurance industry is heading towards more principle based regulatory regime which allows market players to compete in a level playing field and enhance industry performance.

According to the President of Life Insurance Association of Malaysia (LIAM), regardless of the economy turmoil, life insurance industry maintains its strong performance with new business sales improved by 20% on weighted premium basis as of 1st half of 2009. The association also envisions a strong growth of more than 20% this year. In 2008, the non life insurance sector achieved MYR 8,997 million of net premiums, representing an increase of about 10% from 2007. Malaysia's takaful industry is also expanding with total assets amounted to MYR10.6 billion and market penetration rate of 8.1%. Takaful fund assets and net contribution income experienced a strong growth with an average annual growth rate of 20.5% and 28.7% respectively from 2004 to 2008.

Table of Content

1. Industry Profile 1
1.1 Industry Overview
1.2 Asia Pacific Insurance Sector
1.3 Malaysia Insurance Sector
1.3.1 Life Insurance
1.3.2 General Insurance
1.3.3 Takaful Insurance
1.4 Regulatory Issues

2. Market Trends and Outlook
2.1 Financial Sector Master Plan
2.2 Market Outlook
2.2.1 Demographics
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3. Leading Players and Comparative Matrix
3.1 Leading Players
3.1.1 Great Eastern Assurance Bhd
3.1.2 Prudential Assurance Malaysia Bhd
3.1.3 ING Assurance Bhd
3.1.4 Kurnia Insurans Malaysia Bhd
3.1.5 Allianz Malaysia Bhd
3.2 Comparative Analysis
3.3 SWOT Analysis
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Notes: 1 USD= 3.43257 MYR