Boston, MA -- (SBWire) -- 12/06/2013 --The expansion of the Malaysian non-life insurance segment was strongly influenced by the country's GDP growth and the increased insurance industry penetration rate. Supported by these factors, the non-life insurance segment's value increased from MYR9.5 billion (US$2.9 billion) in 2008 to MYR12.7 billion (US$4.1 billion) in 2012, at a CAGR of 7.4%. The segment is expected to record a forecast-period CAGR of 6.5% to reach MYR17.3 billion (US$5.9 billion) in 2017, supported by the country's GDP growth at a forecast-period CAGR of 5.2%. The growth of the industry is also expected to be driven by increased risk awareness among the Malaysian population. The growth of the country's property and automobile industries, rising employment levels and anticipated industrial growth over the forecast period are also expected to drive the growth of the non-life insurance segment.
View Full Report Details and Table of Contents
Key Highlights
- The Malaysian non-life insurance segment increased at a CAGR of 7.4% during the review period
- Malaysia's steady GDP growth is expected to have a significant influence on the country's non-life segment over the forecast period
- Insurance against natural disasters anticipated to drive growth of the non-life segment
- The distribution networks for insurance products are predominantly composed of agency networks, direct marketing, financial brokers, bancassurance, e-commerce and other distribution channels such as telemarketing and shopping malls
- The insurance industry of Malaysia is supervised and regulated by the Central Bank of Malaysia (BNM), under the supervision of the Ministry of Finance and according to the rules and regulations stipulated in the Insurance Act 1996
- The non-life segment is moderately concentrated with 10 leading companies together accounting for 67.5% of the segment's written premiums in 2012
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Malaysia:
- It provides historical values for Malaysia's non-life insurance segment for the report's 2008-2012 review period, and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key categories in Malaysia's non-life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Malaysia
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Malaysia for the non-life insurance segment
- It provides a detailed analysis of the reinsurance segment in Malaysia and its growth prospects
Companies Mentioned in this Report: AGIC, MSIG, Kurnia, Lonpac, Tokio Marine, AMG, Axa Affin General Insurance Bhd, P&O, Etiqa, Jerneh
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Insurance research reports at Fast Market Research
You may also be interested in these related reports:
- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Life Insurance in South Africa, Key Trends and Opportunities to 2017
- Life Insurance in China, Key Trends and Opportunities to 2017
- Life Insurance in India, Key Trends and Opportunities to 2017
- Non-Life Insurance in China, Key Trends and Opportunities to 2017
- Non-Life Insurance in India, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in India, Key Trends and Opportunities to 2017
"Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2017" Published
New Insurance research report from Timetric is now available from Fast Market Research