Zhibao Technology, an InsurTech that primarily engages in providing digital insurance brokerage services, has announced the establishment of Zhibao Labuan Reinsurance Company.
MSIG Malaysia has launched the country's first personal accident add on that addresses a critical gap in financial protection for individuals who might experience a sudden loss of independence due to accidents or unforeseen events.
The Malaysian takaful industry made significant strides in 2024, making a record payout of MYR10.20bn ($2.31bn) in benefits to certificate holders.
Driven by rising funding needs in many core markets, diversification goals, Islamic investor demand and regulatory reforms, continued growth of the global sukuk market can be expected, according to a commentary by Fitch Ratings.
It would be in the interests of governments to collaborate with companies to develop capabilities, including computer platforms, to enable maritime administrations in coastal states to enhance their maritime awareness and track tankers in the dark fleet, according to a guide released by the Centre for International Law at the National University of Singapore.
Jaymart group subsidiary JMT Network Services and Singapore-headquartered Axinan Group that operates the regional InsurTech brand Igloo have set up a digital insurance joint venture in Thailand.
Sun Life, in partnership with global sport for social change foundation Beyond Sport, has announced the extension of its "Hoops + Health" philanthropy programme for the second year, with the goal of helping 45,000 young people get active by the end of 2025 by providing safe spaces, coaching programmes and equipment in underprivileged communities.
The Public Accounts Committee (PAC) of Malaysian parliament will conduct five more closed proceedings during April 2025 on the subject of increasing health insurance premiums. The committee will also consider the private hospital charges and their impact on public health. The committee is likely to present a comprehensive report in this regard to the parliament later in June this year.
Fire insurers are expected not to be significantly impacted by the massive Petronas gas pipeline blast that occurred on the outskirts of Kuala Lumpur on 1 April.
Regulatory measures to strengthen the takaful system, macroeconomic stability, digitalisation and increased awareness of takaful products will support sustained growth of Malaysia's takaful sector in 2025, Fitch Ratings said in a new report.