Malaysia Insurance Market Intelligence: 2011 Edition

Date: January 23, 2011
Pages: 22
US$ 600.00
Publisher: Koncept Analytics
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Malaysia Insurance Market Intelligence: 2011 Edition
The Malaysian insurance industry is in the phase of gradual development. Globalization, coupled with gradual liberalization of the insurance industry, not just creates new market opportunities but also fuels the competition for both life and non-life insurers. Demographic changes like aging population, high medical costs, increasing social affluence has increased the demand of insurance as a both risk protection and savings product in Malaysia.

The growth rate registered by the life insurance sector is higher than non-life insurance in the previous five years. Growth in premium of non-life income has most likely occurred because of the significant rise in non-motor segments, like medical and health, personal accident, as well as liability insurance. Despite being the tenth largest Asian insurance markets in 2009, per capita expenditure on insurance in Malaysia continues to be very low, reason being the varying degree of penetration among different ethnic groups.

Liberalization of Malaysian insurance industry and the growing Bancassurance and Takaful industry are few of the significant factors that will drive growth of the Malaysian insurance industry in the near future.

1.1 Industry Structure
  1.1.1 Significant Regulatory and legislative led to development of insurance sector
  1.1.2 One of the Fastest Growing Markets for Insurance Products across Asia
  1.1.3 Ranked 10th largest insurance market in Asia and 35th in the world
1.2 Market Overview
  1.2.1 Recovery in investment market and economic growth resulted in premium growth over last few years
  1.2.2 Alternative distribution channels and regulatory measures improved returns of policyholders
  1.2.1 Market Size & Growth Consistent growth in life insurance premiums due to demand in investment-linked products and endowment policies
  1.2.2 Market Segments Life Insurance as the Dominant Segment Growth in non-life premiums attributed due to growth in motor, health, accident, liability insurance Motor Insurance as the Largest Segment in Non-Life Insurance Sector
  1.2.3 Market Density & Penetration Low Market Density and Penetration Rate compared to other Asian Markets Increasing number of foreign players due to untapped market potential
  1.2.4 Market Share Non-Life segment Fragmented and Currently under Consolidation Mode Great Eastern Insurance and Prudential among top life insurers


2.1 Industry Developments
  Liberalization of Malaysian Insurance Industry
  Adoption of New Vehicle Valuation System
  Mitsui Sumitomo Links with Hong Leong
2.2 Market Drivers
  Rapidly growing Bancassurance
  Growth in Motor Insurance Market
  Pension Reform and Rising Medical Spending
  Growth of Takaful Market


3.1 Political Environment
3.2 Macro-economic Indicators: Current and Projections


4.1 Announcement of Government’s financial stimulus package surged country’s economic activity
4.2 Recent Grant of new licenses to insurers and Takaful operators drive insurance premiums in future


Malaysian Annual Insurance Premiums: 2002-2009
Malaysian Insurance Premium Share (%) by Segment: 2009
Malaysian Insurance Premium by Segment: 2002-2009
Malaysian Life Insurance Premium Share (%) by Segment: 2009
Malaysian Non-Life Insurance Premium Share (%) by Segment: 2009
Malaysian Insurance Density (US$): 2002 – 2009
Malaysian Insurance Penetration Rate: 2002 – 2009
Malaysian Major Life Insurer’s Market Share: 2009
Malaysian Major Non-Life Insurer’s Market Share: 2009
Distribution of Life Products through Bancassurance
Malaysian Total Number of Vehicles Registered: 2002 – 2009
Malaysian Motor Insurance Premium: 2002 – 2009
Net Takaful Contributions: 2003 – 2009
Forecast: Malaysian Insurance Industry: 2009A - 2013F
Forecast: Malaysian Life & Non-Life Insurance Industry: 2009A - 2013F


Key Macroeconomic Indicators: 2009 – 2014F
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