The Ministry of Investment, Trade and Industry (MITI) has introduced an initiative in the development of Malaysian Standard-Motor Vehicle Aftermarket Smash Repair Requirements (JSM MS).
Malaysian Reinsurance remains focused on gradually expanding its overseas business while reducing dependence on local business for growth, says Fitch Ratings. The share of overseas business grew to 52% of gross premiums in the financial year ended 31 March 2023 [FY2023] (FY2022: 48%), overtaking the domestic share for the first time.
Mid-sized insurer Lonpac Insurance is expected to maintain its strong operating performance over the medium term, says AM Best.
In partnership with AIA Malaysia, TNG Digital has introduced Insure360, a comprehensive health insurance centre, accessible through its Touch 'n Go eWallet. This feature provides a selection of critical illness and medical insurance products.
The general insurance industry has recorded an increase in gross direct premiums of 7.3% to MYR10.5bn ($2.24bn) in the first half of 2023 compared to the corresponding half in the previous year, announced the General Insurance Association of Malaysia (PIAM).
MAA Group is proposing to sell an 85% stake in its Philippine general insurance business -- MAA General Assurance Philippines (MAAGAP) -- for $49.3m in cash, with an option to sell the remaining 15% stake for $8.7m within a 14-month period.
FWD Insurance has launched a new campaign with a new spin on traditional industry norms, highlighting the fact that insurance can be simple and can encourage and help empower Malaysians to celebrate living.
Public awareness of the importance of having takaful and insurance protection is still low, as 60% of the nation's population does not have adequate takaful or insurance coverage for emergencies.
The Malaysian Takaful Association (MTA) aims to extend the Takaful-4-All insurance campaign to all levels of society in every state across the country.
A study among emerging Asia's middle-class in the areas of improving health diagnostics, mental health, and cyber security has revealed three key opportunities for mitigating risks.