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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Malaysian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Malaysia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Malaysia non-life (P&C) market as well as trends by line of business. Axco analysts also report on Malaysia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Malaysia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Malaysia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Malaysia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Malaysia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
In 2019 total gross written premium income for the conventional non-life insurance market, including personal accident and healthcare, was MYR 17.91bn (USD 4.32bn), a decrease of 0.05% compared to 2018. Non-life amounted to MYR 15.7bn (USD 3.79bn) and PA and healthcare was MYR 2.21bn (USD 533.72mn). Motor was the largest class at 47.1% of the total market, with property second at 19.8%.
Gross written general takaful contributions in 2019 were MYR 3.31bn ....
This is a brief extract of information; more updated information may be available in the latest published report.