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Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Synopsis

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

  • The Malaysian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Malaysian economy and demographics
  • A comparison of the Malaysian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Malaysian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Malaysian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Malaysia
  • Details of regulatory policy applicable to the Malaysian insurance industry
Summary

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazards and their impact on the Malaysian insurance industry, 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 non-life insurance segment in Malaysia:
  • It provides historical values for the Malaysian non-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 non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Malaysian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Malaysia.
  • It analyzes various natural hazards and their impact on the Malaysian insurance industry
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Malaysian non-life insurance segment.
  • Assess the competitive dynamics in the non-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 non-life insurance segment expanded during the review period at a review-period CAGR of 6.0%.
  • The BNM has announced plans to restructure motor and fire insurance business through detariffication.
  • Motor insurance was the largest non-life category, accounting for 54.0% of the segment’s direct written premium in 2015.
  • Agencies remained the dominant distribution channel in the Malaysian non-life segment during the review period, accounting for 62.0% of the segment’s direct written premium in 2015.
  • Insurers are increasingly focusing on digitalization to enhance their customer services platforms.
  • The segment is concentrated, with the 10 leading companies accounting for 72.5% of the segment’s gross written premium in 2015.


  • Key Facts and Highlights
    • Table Malaysian Non-Life Insurance - Key Facts, 2014
    • Table Malaysian Non-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 Non-Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Malaysian Non-Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Malaysian Non-Life Insurance - Premium per Capita (MYR and US$), 2011-2015
        • Table Malaysian Non-Life Insurance - Premium per Capita (MYR and US$), 2015-2020
      • Claims
        • Table Malaysian Non-Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Non-Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Malaysian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Malaysian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Malaysian Non-Life Insurance - Total Assets (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Non-Life Insurance - Total Assets (MYR Billion and US$ Billion), 2015-2020
        • Table Malaysian Non-Life Insurance - Total Investment Income (MYR Million and US$ Million), 2011-2015
        • Table Malaysian Non-Life Insurance - Total Investment Income (MYR Million and US$ Million), 2015-2020
        • Table Malaysian Non-Life Insurance - Investment Portfolio (MYR Billion), 2011-2015
        • Table Malaysian Non-Life Insurance - Investment Portfolio (MYR Billion), 2015-2020
  • Outlook by Category
    • Table Malaysian Non-Life Insurance - Direct Written Premium by Category (MYR Billion),2011-2015
    • Table Malaysian Non-Life Insurance - Direct Written Premium by Category (MYR Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Malaysian Property Insurance - Direct Written Premium by Sub-Category (MYR Million), 2011-2015
        • Table Malaysian Property Insurance - Direct Written Premium by Sub-Category (MYR Million), 2015-2020
      • Claims
        • Table Malaysian Property Insurance - Paid Claims (MYR Billion and US$ Million), 2011-2015
        • Table Malaysian Property Insurance - Paid Claims (MYR Billion and US$ Million), 2015-2020
      • Profitability
        • Table Malaysian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Malaysian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Malaysian Motor Insurance - Direct Written Premium by Sub-Category (MYR Billion), 2011-2015
        • Table Malaysian Motor Insurance - Direct Written Premium by Sub-Category (MYR Billion), 2015-2020
      • Claims
        • Table Malaysian Motor Insurance - Paid Claims (MYR Billion and US$ Billion), 2011-2015
        • Table Malaysian Motor Insurance - Paid Claims (MYR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Malaysian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Malaysian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Malaysian Liability Insurance - Direct Written Premium by Sub-Category (MYR Million), 2011-2015
        • Table Malaysian Liability Insurance - Direct Written Premium by Sub-Category (MYR Million), 2015-2020
      • Claims
        • Table Malaysian Liability Insurance - Paid Claims (MYR Million and US$ Million), 2011-2015
        • Table Malaysian Liability Insurance - Paid Claims (MYR million and US$ Million), 2015-2020
      • Profitability
        • Table Malaysian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Malaysian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Malaysian Transport Network - Global Rankings
      • Premium
        • Table Malaysian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (MYR Billion), 2011-2015
        • Table Malaysian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (MYR Billion), 2015-2020
      • Claims
        • Table Malaysian Marine, Aviation and Transit Insurance - Paid Claims (MYR Million and US$ Million), 2011-2015
        • Table Malaysian Marine, Aviation and Transit Insurance - Paid Claims (MYR Million and US$ Million), 2015-2020
      • Profitability
        • Table Malaysian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Malaysian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Malaysian Non-Life Insurance - Direct Written Premium by Distribution Channel (MYR Billion), 2011-2015
      • Table Malaysian Non-Life Insurance - Direct Written Premium by Distribution Channel (MYR Billion), 2015-2020
      • Table Malaysian Non-Life Insurance - Percentage of Direct Written Premium, by Distribution Channel, 2011-2020
      • Agencies
      • Direct Marketing
      • Brokers
      • Bancassurance
      • E-commerce
      • Other channels
  • Natural Hazards
    • Table Malaysian Average Annual Loss by Hazard, 1990-2014
    • Table Malaysian Average Annual Loss by Hazard, 1990-2015
    • Flooding
    • Earthquakes
    • Heatwave Conditions
    • Exposure
  • Competitive Landscape
    • Table Malaysian Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • Allianz General Insurance Company (Malaysia) Bhd - company overview
        • Table Allianz General Insurance Company (Malaysia) Bhd - Key Facts
        • Table Allianz General Insurance Company (Malaysia) Bhd - Key Financials (MYR Million), 2011-2015
      • MSIG Insurance (Malaysia) Bhd - company overview
        • Table MSIG Insurance (Malaysia) Bhd - Key Facts
        • Table MSIG Insurance (Malaysia) Bhd - Key Financials (MYR Million), 2011-2015
      • Etiqa Insurance Bhd - company overview
        • Table Etiqa Insurance Bhd- Key Facts
        • Table Etiqa Insurance Bhd - Key Financials (MYR Million), 2011-2015
      • Axa Affin General Insurance Bhd - company overview
        • Table Axa Affin General Insurance Bhd - Key Facts
        • Table Axa Affin General Insurance Bhd - Key Financials (MYR Million), 2011-2015
      • Lonpac Insurance Bhd - company overview
        • Table Lonpac Insurance Bhd - Key Facts
        • Table Lonpac Insurance 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Malaysian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Malaysian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Malaysian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Malaysian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Malaysian Non-Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing
      • Table Malaysian Non-Life Insurance - Direct Marketing, 2011-2015
      • Table Malaysian Non-Life Insurance - Direct Marketing, 2015-2020
    • Insurance Brokers and Agencies
      • Table Malaysian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Malaysian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Malaysian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Malaysian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Property Insurance
      • Table Malaysian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Malaysian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Malaysian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Malaysian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Malaysian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Malaysian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Malaysian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Malaysian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Malaysian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Malaysian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Malaysian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Malaysian Non-Life Insurance - Marine, Aviation and Transit Insurance, 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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