New Market Research Report: Malaysia Insurance Report Q3 2011

New Financial Services market report from Business Monitor International: "Malaysia Insurance Report Q3 2011"
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July 24, 2011 - PRLog -- Key Insights And Key Risks

* Although it is more mature than several of the other insurance markets in the region, Malaysia continues to achieve steady growth.
* It appears that the expansion of the non-life segment depends basically on the growth of the economy. Non-life penetration has not been increasing over the last five years and is expected to remain constant through the forecast period.
* As is the case in the rest of Asia, life insurance is an important and growing channel for organised savings. Relative to other markets in the region, multi-nationals are better established.
* Thanks significantly to official initiatives to promote Islamic finance, the expansion of takaful has been an important growth driver - especially in the life segment. In 2010, takaful accounted for about 8% of the non-life segment and 15% of the life segment.

Full Report Details at

The latest figures published by Bank Negara Malaysia, the insurance sector regulator, indicate that life premiums rose by 13% last year, while non-life premiums grew by 10% (both figures include both conventional insurance and contributions for, respectively, family and general takaful). This represents a solid - if, by the standards of other countries in the region, unspectacular - rise.

The life segment appears to be more dynamic than the non-life segment. A surprisingly large number of multi-nationals, none of whom have problems accessing global capital markets, are innovating, developing new distribution channels and improving the productivity of existing channels. Family takaful is an important growth driver - and has clearly developed to the point where its growth has an impact on the entire segment: at long last, the hype is no longer ahead of the reality. Published corporate results for Q111 point to a continuation in all these positive trends.

General takaful is one of the identifiable sources of growth for the non-life segment as well. Within the non-life segment, medical expenses/personal accident insurance has consistently been growing at doubledigit rates over recent years. However, the sluggish growth of other lines of business means that, since 2006, total non-life premiums (ie including both conventional insurance and general takaful) has not kept pace with nominal GDP. In other words, non-life penetration has been under downwards pressure. In a mature and fragmented segment, where most players do not clearly have pricing power, we do not see an obvious catalyst for growth in non-life penetration. (This is in stark contrast to the life segment, where various initiatives by the insurers are boosting sales). Consolidation of the segment is a possible outcome.

Report Table of Contents:

Executive Summary
- Table: Total Premiums 2008-2015
- Key Insights And Key Risks
SWOT Analysis
- Malaysia Insurance Industry SWOT
- Malaysia Political SWOT
- Malaysia Economic SWOT
- Malaysia Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific's Life Premiums, 2008-2015 (US$mn)
- Malaysia Life Sector Update
- Life Segment: In-Force Business Breakdown, 2010 (MYRmn)
- Life Segment: New Business Breakdown 2010 (MYRmn)
- Life Industry Forecast Scenario
- Table: Total Life Premiums 2008-2015
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers - Demographics, 2008-2015
- Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-life Premiums, 2008-2015
- Malaysia Non-Life Sector Update
- Table: Non-Life Segment Breakdown, 2010 (MYRmn)
- Non-Life Industry Forecast Scenario
- Table: Total Non-Life Premiums 2008-2015
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Malaysia Economic Activity, 2008-2015
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Table: Insurance Key Drivers - Disability-Adjusted Life Years, 2008-2015
- Motor
- Table: Insurance Key Drivers - Autos, 2008-2015
- Tourism
- Table: Insurance Key Drivers - Tourism, 2008-2015
- Islamic Finance
Insurance Risk/Reward Ratings
- Table: Malaysia's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Major Players In Malaysia's Insurance Sector
- Table: Major Non-Life Insurers
- Table: Major Life Insurers
Company Profiles
- Local Company Profiles
- Etiqa Insurance And Takaful Berhad
- Tokyo Marine Life Insurance Asia Bhd (TM Life Asia Malaysia Bhd)
- Regional Company Profiles
- Ageas
- AIA Group Limited
- Allianz
- Aviva
- BNP Paribas Cardif
- Chartis
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- Sun Life Financial
- The Principal
- Zurich Financial Services
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

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Tags:Insurance, Non-life, Premiums, Takaful, Amounted, Regulator, Written, Sourced, Contributions
Industry:Finance, Research, Banking
Location:Massachusetts - United States
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