In this edition, we explore the impacts of COVID-19 on the motor insurance market in Malaysia. Our domestic treaties team also share a unique insight from our position as the domestic market leader on the latest market trends from the recent January 2021 renewal.
Malaysian Insurance Highlights offers a deep and broad overview of the current opportunities and challenges facing Malaysia’s general insurance market. It is an authoritative publication combining a rigorous analysis of the hard data with in-depth executive and senior professional interviews. The inaugural issue which includes input from over 30 senior insurance executives and experts operating in the market, focuses on five major trends, namely de-tariffication, market consolidation, B40 strategies, Takaful prospects and InsurTech.
The COVID-19 pandemic caused the sharpest contraction of Malaysia’s economy in modern times. For insurers, it challenged their revenues, technical and investment results, and tested the quality of their risk management and business continuity planning. Malaysian Insurance Highlights 2020 examines the impact of the COVID-19 pandemic on Malaysia's economy and its insurance markets.
ASEAN Insurance Pulse 2018 is based on in-depth, structured interviews with 41 executives from all 10 ASEAN countries. This second edition shines a spotlight on the region’s protection gaps and explores remedies to the gap between total economic disaster losses and the small fraction of those which are insured. This edition also offers an authoritative overview of the current state and prospects of the region’s US$28 billion non-life insurance markets.
The year 2020 has been coined by the COVID-19 pandemic, an unprecedented global health crisis that dominated societies, economies and insurance markets worldwide. The ASEAN markets make no exception here. ASEAN Insurance Pulse 2020 investigates the impact of the crisis on the region’s economies and its insurance markets. It takes the pulse of the region’s insurance executives on how the pandemic shaped their markets, which actions regulators took to supervise during the crisis and how the virus will change the regions’ insurance industry.
ASEAN Insurance Pulse 2017, is based on in-depth interviews with 35 senior executives from regional and international insurance companies, intermediaries and trade organisations operating across the ASEAN (Association of Southeast Asian Nations) region, and provides an authoritative overview of the current state and future prospects of the ASEAN region’s US$ 23 billion non-life insurance markets. In addition, it takes executives’ pulse on the Asian Economic Community (AEC) project and its implications for the region’s insurance markets.
ASEAN Insurance Pulse 2019 draws on in-depth structured interviews with senior executives of 43 national, regional and international insurance and reinsurance companies’ intermediaries and trade associations operating across the ASEAN region. This year’s edition of the survey-based research publication focuses on the state of digitisation of the region’s insurance players. The survey also analyses the impact of digitisation on the region’s US$31 billion non-life insurance markets and their growth and profitability prospects.
The fifth edition of ASEAN Insurance Pulse focuses on natural catastrophes and in particular flood risk as well as its impacts to ASEAN economy and insurance market. ASEAN Insurance Pulse 2021 explores the key trends driving the financial risk management of natural catastrophes and flooding in the region. In this context, the report also highlights the increasing importance of Environmental, Social and Governance (ESG) principles in underwriting and asset management of insurers.
Malaysia General Insurance and Takaful industry recorded a stable growth with GWP & GWC rising by 1.8% in 2019. Whilst Motor has been showing steady growth over the years, Fire growth is slowing down, potentially due to the challenging phased liberalisation environment.
Flooding is regarded as Malaysia’s most severe and frequent disaster causing the highest amount of annual average losses. This has been painfully evidenced once again in December 2021, when the most severe flood event since 2014 struck the country, killing about 50 people, displacing more than 120,000 and causing an estimated flood related claims exposure of RM 3 billion (US$ 720 million).
The Asian (Re)Insurance Market Report highlights statistics and data from countries across the Asia region. Among the information covered in this Report are gross premiums comprising non-life, life and micro insurance; the number of insurance entities and the market share of total non-life insurance premiums, as well as the insurance industry growth trends.
Malaysian Insurance Highlights (MIH) 2021 examines the impact of flooding on its economy and insurance markets. Just as 2021 drew to a close Malaysia was hit by one of the worst floods that the country ever experienced. MIH 2021 accentuates the need to address underinsurance as flood risk increases, where the demand for flood cover is influenced by the government’s support of the country’s low-income segment for the loss caused by a disaster.