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Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Malaysia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Malaysian life insurance segment, including:

  • An overview of the Malaysian life insurance segment
  • The Malaysian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Malaysian economy and demographics
  • A comparison of the Malaysian life insurance segment with its regional counterparts
  • The various distribution channels in the Malaysian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Malaysia
  • Details of regulatory policy applicable to the Malaysian insurance industry
Summary

Timetric’s 'Life Insurance in Malaysia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Malaysian life insurance segment, and a comparison of the Malaysian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Malaysian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the life insurance segment in Malaysia:
  • It provides historical values for the Malaysian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Malaysian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Malaysian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Malaysia.
  • It profiles the top life insurance companies in Malaysia and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Malaysian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Malaysian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Malaysian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Malaysian life insurance segment registered a review-period CAGR of 6.5%.
  • The individual life insurance category dominated the segment during the review period and accounted for 91.1% of the life direct written premium.
  • Agencies and bancassurance collectively accounted for 89.6% of the segment’s new business written premium in 2015, while brokers accounted for the remaining 10.4%.
  • The life segment is highly concentrated, with the 10 leading companies collectively accounting for 77.5% of the segment’s gross written premium in 2015.


  • Key Facts and Highlights
    • Table Malaysian Life Insurance - Key Facts, 2015
    • Table Malaysian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Malaysian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Malaysian Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - Penetration (%), 2011-2015
        • Table Malaysian Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Life Insurance - Penetration (%), 2015-2020
        • Table Malaysian Life Insurance - New Business Direct Written Premium (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - New Business Direct Written Premium (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Life Insurance - Premium per Capita (MYR and US$), 2011-2015
        • Table Malaysian Life Insurance - Premium per Capita (MYR and US$), 2015-2020
      • Policies sold
        • Table Malaysian Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Malaysian Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Malaysian Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2015-2020
      • Sum assured
        • Table Malaysian Life Insurance - Sum Assured (MYR Trillion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - Sum Assured (MYR Trillion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Malaysian Life Insurance - Total Assets (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - Total Assets (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Life Insurance - Total Investment Income (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Life Insurance - Total Investment Income (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Life Insurance - Investment Portfolio (MYR Billion), 2011-2015
        • Table Malaysian Life Insurance - Investment Portfolio (MYR Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Malaysian Life Insurance - Direct Written Premium by Sub-Segment (MYR Billion),2011-2015
    • Table Malaysian Life Insurance - Direct Written Premium by Sub-Segment (MYR Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Malaysian Individual Life Insurance - Direct Written Premium by Category (MYR Million), 2011-2015
        • Table Malaysian Individual Life Insurance - Direct Written Premium by Category (MYR Million), 2015-2020
      • Policies sold
        • Table Malaysian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Malaysian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Malaysian Group Life Insurance - Direct Written Premium by Category (MYR Billion), 2011-2015
        • Table Malaysian Group Life Insurance - Direct Written Premium by Category (MYR Billion), 2015-2020
      • Policies sold
        • Table Malaysian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Malaysian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Malaysian Life Insurance - New Business Direct Written Premium by Distribution Channel (MYR Billion), 2011-2015
      • Table Malaysian Life Insurance - New Business Direct Written Premium by Distribution Channel (MYR Billion), 2015-2020
      • Table Malaysian Life Insurance - Percentage of New Business Direct Written Premium, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Malaysian Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • AIA Bhd - company overview
        • Table AIA Bhd - Key Facts
        • Table AIA Bhd - Key Financials (MYR Million), 2011-2015
      • Great Eastern Life Assurance (Malaysia) Bhd - company overview
        • Table Great Eastern Life Assurance (Malaysia) Bhd - Key Facts
        • Table Great Eastern Life Assurance (Malaysia) Bhd - Key Financials (MYR Million), 2011-2015
      • Prudential Assurance Malaysia Bhd - company overview
        • Table Prudential Assurance Malaysia Bhd - Key Facts
        • Table Prudential Assurance Malaysia Bhd - Key Financials (MYR Million), 2011-2015
      • Hong Leong Assurance Bhd - company overview
        • Table Hong Leong Assurance Bhd - Key Facts
        • Table Hong Leong Assurance Bhd - Key Financials (MYR Million), 2011-2015
      • Allianz Life Insurance Malaysia Bhd - company overview
        • Table Allianz Life Insurance Malaysia Bhd - Key Facts
        • Table Allianz Life Insurance Malaysia Bhd - Key Financials (MYR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Malaysia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Malaysia - Life Insurance Regulatory Framework
      • Property insurance
        • Table Malaysia - Property Insurance Regulatory Framework
        • Table Malaysia - Fire Insurance: Perils and Premium Rate
        • Table Malaysia - Premium Loading on Basic Rate
        • Table Malaysia - Short Period Insurance Premium Rates
      • Motor insurance
        • Table Malaysia - Motor Insurance Regulatory Framework
        • Table Malaysia - Motor Insurance Rating Tariff
      • Liability insurance
        • Table Malaysia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Travel insurance
      • Workmen's compensation insurance
      • Insurance against liability for oil pollution
      • Foreign workers' health insurance
      • Professional indemnity insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Central Bank of Malaysia or Bank Negara Malaysia
      • General Insurance Association of Malaysia
      • Life Insurance Association of Malaysia (LIAM)
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Malaysia - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Malaysian Life Insurance - Policies and Premium, 2011-2015
      • Table Malaysian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Malaysian Life Insurance - Claims and Expenses, 2011-2015
      • Table Malaysian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Malaysian Life Insurance - Assets and Investments, 2011-2015
      • Table Malaysian Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Malaysian Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Malaysian Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Malaysian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Malaysian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Malaysian Life Insurance - Bancassurance, 2011-2015
      • Table Malaysian Life Insurance - Bancassurance, 2015-2020
    • Individual Life Insurance
      • Table Malaysian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Malaysian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Malaysian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Malaysian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Malaysian Life Insurance - Group Life Insurance, 2011-2015
      • Table Malaysian Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Malaysian Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Malaysian Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs Non-Single Premium
      • Table Malaysian Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Malaysian Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Group Life - Single vs Non-Single Premium
      • Table Malaysian Life Insurance - Group Life Insurance by Premium, 2011-2015
      • Table Malaysian Life Insurance - Group Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Malaysian Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Malaysian Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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