Nov 2012

Read the latest edition of AIR and MEIR as an Interactive e-book

Country Profile

Exciting times ahead

Malaysian insurers are experiencing changes in numerous aspects of their businesses. M&As are flourishing and more MNC players are looking to enter the country which remains underpenetrated amidst a growing economy and burgeoning middle class. The general insurers are getting ready for 2016 when de-tariffing of motor and the property classes happen. For life, change comes in the form of the liberalisation of operating expenses while the Competition Act and the Personal Data Protection Act will impact both life and non-life insurers.

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Life insurance – On the brink of change

Malaysia’s life market faces significant changes with the impending liberalisation of operating expense for business acquisition costs and the implementation of the Competition Act and the Personal Data Protection Act. The first measure is set to bring a boon to the life sector, while the two will restrict the way life insurers do business. Prospects-wise, the sector remains bullish as it gears up to ride on Malaysia’s goal to become a high-income nation by 2020. By Manuelita Contreras

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Non-life insurance: Motor premium hike – Baby step in the right direction

Malaysia’s motor insurance industry has taken its first step on a somewhat uncertain road to deregulation. January this year saw the more than 30-year-old motor tariff revised for the first time, and by the looks of it, the January 2016 deadline for de-tariffing for motor and fire classes looks set to be implemented. Although the recent motor premium hike is negligible, for many industry players, it is an important step towards the goal of eventually de-tariffing the sector. By V K Sanjeed

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M&A scene still hustling and bustling

Malaysia has been a hubbub of M&A dealings this year as consolidation keeps its pace since starting two years ago. As more deals wait or continue to be sealed, the market is shaping up to become more competitive, ushering in changing dynamics that is worth watching for. By Manuelita Contreras

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Malaysian Re – More foreign portfolio for the future

With the expectation that voluntary cessions will be reduced in the foreseeable future, Mr Hashim Harun, President & CEO of Malaysian Re, says the reinsurer is looking to expand further overseas, targeting a 60:40 ratio of domestic to foreign business in the next three years, from the current 70:30 ratio.

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