Magazine

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

Sep 2022

Market Profile


Malaysia

Insurers facing persistent profit challenges

Listed insurers in Malaysia have started the year by posting near double-digit GWP growth in the first three months of 2022, but they continue to face profitability challenges due to volatility on the investment front.
 

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InsurTech progressing cautiously

InsurTech in Malaysia is on its way to becoming a significant component of the country’s insurance ecosystem with strong government and regulatory backing and rising customer demand for technological offerings.
 

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Regulation for sustainability, affordability and innovation

We look at some initiatives that Malaysia’s insurance regulator has undertaken in the recent past to improve the country’s protection sector.
 

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Reinsurers face uncertainties in flood risks

Reinsurers in Malaysia are working on solutions to address underinsurance from Nat CAT risks such as floods. Flood insurance penetration in the country is very low and poses a major challenge for the government to support those affected by floods.
 

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Government initiatives boost life sector

The 16 members of the Life Insurance Association of Malaysia, boosted by a number of government initiatives, closed the year 2021 with a robust 12.4% growth in new business over 2020.
 

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P&C insurance returns to previous growth standards

Post pandemic, Malaysia saw good growth for the general insurance sector, with GWP rising by 2.1% in 2021, after declines in 2019 and 2020. This growth was in line with improvement of the general economy.
 

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