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Jan 2021

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Malaysia: Life insurance market shows recovery in 3Q2020

Source: Asia Insurance Review | Jan 2021

The Malaysian life insurance industry rebounded strongly in the third quarter of 2020. It registered a 44% increase in total new business premiums to MYR2.92bn ($717m) as compared to 2Q2020 according to the Life Insurance Association of Malaysia.
 
The industry registered modest growth of 6.5% in total new business premiums in 3Q2020 compared to 3Q2019.
 
The positive performance in the third quarter is attributed to an improvement in investment-linked business, which doubled from MYR737.72m in 2Q2020 to MYR1.43bn in 3Q2020.
The industry foresees an overall modest single-digit growth for 2020 if the positive trends continue in 4Q2020. A 
 
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