Malaysia

Axco provides details on the life insurance sector including Malaysian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Malaysia, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Malaysian pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Malaysia report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Malaysia has a well-established life insurance market, comprising conventional life business and the world's largest family takaful market. Higher value life premium is also written from Malaysia's offshore territory, Labuan. Conventional premium ranked the life market 28th globally by market size in USD terms in 2019.

Overall market growth, however, remains stuck in low gear with penetration below ....

With Malaysia projected by the United Nations (UN) to be classified as an ageing country from 2030, there is pressing need to develop fully a public and private pension system to both extend cover to those without pensions and increase the adequacy of those with.

Government policy has made clear its intention to develop a "vibrant private pension industry" as stated among the recommendations in BNM's Financial Sector Blueprint 2011-2020 ....

Malaysia has a hybrid public private health system. Highly subsidised universal public primary and inpatient care is provided to citizens in public facilities. Notably the well-regarded national network of public polyclinics provides extensive primary care services accessible for MYR 1 (USD 0.23).

Public health service provision can be subject to treatment delay which, together with increasing consumer demand for high quality healthcare ....