Malaysia Insurance Report - Business Monitor International - Industry Reports

Malaysia Insurance Report

Malaysia Insurance Report - Business Monitor International - Industry Reports
Malaysia Insurance Report
Published Sep 03, 2016
50 pages — Published Sep 03, 2016
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In Q---, we are not making changes to our forecasts for Malaysia s life insurance segment. We continue to expect growth in gross life insurance premiums to slow over the course of the forecast period from just over - in ----, to just below - in ----. Other metrics, such as the strong rises in new business premiums and value of new business for many of the leading companies over the course of ----, provide a better indication of the opportunities. Life insurance is well established as a conduit for organised savings among those households who understand it and value it: many of them are moving from contributing premiums to drawing down benefits. Nevertheless, the world class life insurers who dominate the segment are leveraging their various strengths to reach first time customers. ...Health and personal accident insurance should sustain double-digit growth, thanks in part to new users of the latter and in part due to health expense inflation.

...In February ----, AIA opened new customer centres in Melaka, Seremban and Batu Pahat. The company is looking to enhance its customers experience. ...Weighted new business sales rose by -.- in ---- to MYR---mn. The factors underpinning the increase included: strong demand for investment-linked products (both conventional and Takaful); rising bankatakaful sales; and the distribution partnership with OCBC. Prudential plc achieved growth in new business sales on an APE basis of -- in ----. This was partly due to strong growth in the bancassurance channel and partly due to the -- expansion in the agency force. Prudential has had success with sales of Takaful products.

...Households --- Net Income less than USD-,--- ----f ----f ----f ----f ----f - --,--- -,--- f = BMI forecast. Source: National sources, BMI We expect penetration of -.- of GDP in ----. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Malaysia Insurance Report" Sep 03, 2016. Alacra Store. Oct 25, 2016. <>
Business Monitor International - Industry Reports. (2016). Malaysia Insurance Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <>
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