Recently released market study: Malaysia Insurance Report Q2 2011

New Financial Services research report from Business Monitor International is now available from Fast Market Research
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April 3, 2011 - PRLog -- Key Insights On Malaysia's Insurance Sector

Writing in March 2011, figures for 2009 are now actual data sourced from company reports and insurance regulators in the country. We estimate total premiums in 2010 of MYR34,383mn. This includes non-life premiums of MYR13,431mn and life premiums of MYR20,952mn. In 2015, the corresponding figures should be MYR60,772mn, MYR23,441mn and MYR37,331mn. In terms of the key drivers that underpin our forecasts, we expect for non-life penetration to rise from 1.80% of GDP in 2010 to 2.21% in 2015, and for life density to increase from US$228 per capita to US$383. GDP growth in Malaysia through the course of 2010 slowed, decelerating from 8.9% in Q210 to 5.3% in Q310. Nevertheless, the overall recovery in the Malaysian economy was firm and our insurance estimates for the year may prove to be slightly conservative when the actual figures are released. BMI's proprietary Insurance Business Environment Rating for Malaysia is 65.8.

Malaysia is one of the leading countries for takaful (Islamic insurance), premiums for which are significant. In 2009, for instance, general takaful contributions amounted to MYR804mn, or about 7% of total non-life premiums (including takaful and conventional insurance). In the life segment, family takaful contributions in 2009 amounted to MYR2,718mn, about 14% of the total.

As in previous quarters, we have ranked major players in each of the two main insurance segments as they are seen by the organisation providing the data (which is usually the regulator or trade associations). In Malaysia, the three largest non-life companies in terms of gross written premiums written were Kurnia, Mitsui and Etiqa, with respective market shares of 12%, 7% and 7% respectively. Great Eastern continued to dominate the life segment with a market share of 24%, though Prudential and ING each had market shares of about 14%. The life sector is generally more fragmented and competitive than the non-life sector.

In this report, we provide a breakdown of the insurance sector by line - again sourced from the regulator or trade associations. In Malaysia, the largest non-life lines were land vehicles voluntary insurance (CASCO); fire; medical expenses and personal accident; and marine, aviation and transport.

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Report Table of Contents:

Executive Summary
- Table: Overview Of Malaysia's Insurance Sector
- Key Insights On Malaysia's Insurance Sector
SWOT Analysis
- Malaysia Insurance Industry SWOT
- Malaysia Political SWOT
- Malaysia Economic SWOT
- Malaysia Business Environment SWOT
What Might Have Been: Prudential's Acquisition Of AIA
- Tale: AIA - Key Facts
- Table: AIA's Market Positions
- Table: What The Combined Group Would Have Looked Like - Latest Rankings In Asia Pacific Life Insurance
- Table: Asia Highlights Of Prudential plc's 2009 Annual Report
- Table: Prudential plc's New Business In Annualised Premium Equivalent, 2009
- Table: Global Life Insurance Profitability - Selected Figures
- Table: Who's Who - Life Insurance Joint Ventures And Businesses In India And China
Asia Pacific Market Overview
- Table: Premium's In Asia Pacific's Non-Life Segment (US$mn)
- Table: Premiums In Asia Pacific's Life Segment (US$mn)
Islamic Insurance Overview
- Projections And Forecasts
- Table: Insurance Premiums, 2008-2015
- Projections And Drivers Of Growth
- Table: Growth Drivers, 2008-2015
Country Update
- Macroeconomic Outlook
- Table: Malaysia Economic Activity, 2008-2015
- Political Outlook
- Long-Term Political Outlook
Insurance Business Environment Ratings
- Table: Malaysia's Insurance Business Environment Rating
- Table: Asia Pacific Insurance Business Environment Ratings
Regional Context
- Table: Non-Life Premiums In A Regional Context, 2009
- Table: Life Premiums In A Regional Context, 2009
Major Players In Malaysia's Insurance Sector
- Table: Non-Life Insurance Premiums - Breakdown By Lines, 2008 (MYRmn)
- Table: Life Insurance Premiums - Breakdown By Lines, 2008 (MYRmn)
- Table: Life Companies By Gross Written Premiums, 2008 (MYRmn)
- Table: Non-Life Companies - Gross Written Premiums, 2007* (MYRmn)
Analysis Of Regional Competitive Conditions
Company Profiles
- Local Company Profiles
- Allianz Malaysia Berhad
- Etiqa Insurance And Takaful Berhad
- Tokyo Marine Life Insurance Asia Bhd (TM Life Asia Malaysia Bhd)
- Regional Company Profiles
- Allianz
- Aviva
- Cardif
- Fortis
- Generali
- Groupama
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife
- Prudential Financial
- Prudential plc
- Sun Life Financial
- The Principal
- Zurich Financial Services
Country Snapshot: Malaysia Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2000-2003
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
BMI Methodology
- Insurance Business Environment Ratings
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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Tags:Insurance, Premiums, Non-life, Asia, Prudential, Takaful, Myrmn, Written, Ratings, 2008-2015
Industry:Finance, Research, Banking
Location:Massachusetts - United States
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