The earnings of Malaysia's local insurance and takaful sector are expected to stage some recovery this year amid volatility in the global financial markets, according to RAM Rating Services (RAM Ratings).
Great Eastern Life Malaysia (GELM) launched Great Multi-Gen Wealth, a wealth accumulation plan at its head office recently.
Around three in five or 62% of Malaysians are willing to commit fraud to file an insurance claim, according to a study revealed by FICO, an international data analytics company.
Starr Insurance has announced that it has expanded its presence in Malaysia by establishing a Labuan branch (Starr Labuan) of Starr International Insurance (Singapore).
Great Eastern Holdings has reported profits attributable to shareholders of S$244m ($184m) for the quarter ended 31 March 2023, based on Singapore Financial Reporting Standard (International) 17 [SFRS(I) 17].
Allianz Asia Pacific (AZAP) is partnering INSEAD, one of the world's leading business schools, to create a training and certification programme aimed at transforming and upskilling the organisation's life and health business agency salesforce.
Bank Negara Malaysia has published a policy document setting out requirements for licensed insurers and takaful operators (ITOs) to promote high standards of conduct and professionalism among their insurance and takaful agents.
The takaful industry posted a strong growth in 2022 on the back of the country's post-lockdown recovery phase, says the Malaysian Takaful Association (MTA).
The general insurance industry has recorded an increase in gross direct premiums of 10% to MYR19.4bn ($4.4bn) for the full year 2022 compared to 2021, according to the General Insurance Association of Malaysia (PIAM).
Malaysia's life insurance industry has recorded a 5.3% rise in sum assured in force amounting to MYR1.9 trillion (US$431 billion) last year versus MYR1.8 trillion in 2021, said the Life Insurance Association of Malaysia (LIAM).