Liberalisation of the industry whilst raising the bar - Is this a paradox?
Source: Asia Insurance Review | Mar 2015
Bank Negara Malaysia, the Malaysian regulator is looking to liberalise both the life and general insurance markets in the near term. At the same time, more requirements are being imposed by the regulator ahead of the anticipated liberalisation. Could liberalisation paradoxically create greater constraints on the industry? In this article, Mr Wan Saifulrizal Wan Ismail of Towers Watson Malaysia, highlights the recent regulatory and market developments as well as anticipated implications in the Malaysian insurance industry.
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