The Life Insurance Association of Malaysia (LIAM) says it will start publishing data on medical procedure costs in private hospitals from mid-2025 in line with a directive by Bank Negara Malaysia (BNM). The public will then be able to compare medical costs between private hospitals.
The central bank, Bank Negara Malaysia, yesterday released a policy document specifying the minimum requirements for enhanced consistency and comprehensive transparency aimed at improving information disclosure of financial products offered by financial service providers (FSPs), including insurance companies and takaful operators.
The Ministry of Transport (MOT) will look at the implications of making car insurance compulsory for private car passengers.
Bank Negara Malaysia (BNM) requires insurers and takaful operators (ITOs) to review their current repricing strategies following concerns raised by policyholders regarding recent increases in the premiums of medical and health insurance and takaful (MHIT) products.
Malaysian Reinsurance's underwriting performance improved sharply in the financial year ended 31 March 2024 (FY2024), with an insurance/takaful service result of MYR341m [$77m] (FY2023: loss of MYR2m), driven by lower catastrophe losses, says Fitch Ratings.
The operating performance of Labuan Reinsurance [L] (Labuan Re) is viewed as adequate, says AM Best.
Zurich Takaful Malaysia Berhad (ZTMB) has introduced MediAfya+, a new takaful medical plan aimed at offering more comprehensive healthcare coverage for Malaysians.
The life insurance market in Malaysia is forecast to reach $17.2 billion direct written premiums (DWP) in 2028, garnering a compound annual growth rate (CAGR) of 5.2% from 2024 to 2028, GlobalData results showed.
2025 will be a significant year for Malaysia as it takes on the ASEAN chairmanship, which represents a significant opportunity for Malaysia to actively advance regional collaboration across Southeast Asia in critical sectors, including takaful and retakaful, according to the deputy governor of Bank Negara Malaysia, Mr Adnan Zaylani.
Great Eastern has spotlighted 12 most inspiring customers from Singapore, Malaysia and Indonesia by turning their stories into mini films starring themselves. These shorts premiered on the outdoor screen at One Raffles Place recently.