Synopsis
Timetrics Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2019 report provides a detailed outlook by product category for the Malaysian non-life insurance segment, and a comparison of the Malaysian insurance industry with regional counterparts.
It uses key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019).
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 hazard and their impact on the Malaysian insurance industry, and provides detailed information on the competitive landscape in the country.
The report brings together Timetrics 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 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 reports 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
It offers a detailed analysis of the key categories in the Malaysian non-life insurance segment, and market forecasts to 2019.
It analyzes the various distribution channels for non-life insurance products in Malaysia.
It profiles the top non-life insurance companies in Malaysia, and outlines the key regulations affecting them.
Summary
Timetrics Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2019 report provides in-depth market analysis, information and insights into the Malaysian non-life insurance segment, including:
The Malaysian non-life insurance segments detailed outlook by product category
A comprehensive overview of the Malaysian economy and demographics
A comparison of the Malaysian insurance industry with regional counterparts
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
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 industrys future.
Key highlights
Over the forecast period, the segment is projected to post a CAGR of 8.6%, due in part to tax reforms, the implementation of goods and service tax (GST), an increase in the number of motor vehicles sold, and the risk of natural disasters.
Malaysias non-life insurance segment is still in a nascent stage of development, registering a penetration rate of 1.37% in 2014.
Motor insurance was the largest category, and accounted for 54.1% of the segments gross written premium in 2014.
Property insurance accounted for 29.3%, marine, aviation and transit category accounted for 11.1% and liability accounted for the remaining 5.5%.
Agencies remained the dominant distribution channel in the Malaysian non-life segment during the review period, accounting for 61.0% of the segments new business direct written premium in 2014.
The non-life segment is concentrated with the 10 leading companies accounting for 61.8% of the segments gross written premium in 2014.
Table Of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 Direct marketing
6.1.4 Bancassurance
6.1.5 E-commerce
6.1.6 Other channels
7 Natural Hazards
7.1 Flooding
7.2 Earthquakes
7.3 Heat wave Conditions
7.4 Exposure
8 Competitive Landscape
8.1 Company Rankings
8.2 Comparison of the Top Five Insurers
8.2.1 Gross written premium
8.3 Company Profiles
8.3.1 Allianz General Insurance Company (Malaysia) Bhd
8.3.2 MSIG Insurance (Malaysia) Bhd
8.3.3 Etiqa Insurance Bhd
8.3.4 Lonpac Insurance Bhd
8.3.5 Axa Affin General Insurance Bhd
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Regulations by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.12 Marine, aviation and transit insurance
9.3.13 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Travel insurance
9.4.3 Workmens compensation insurance
9.4.4 Insurance against liability for pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Central Bank of Malaysia or Bank Negara Malaysia
9.5.3 General Insurance Association of Malaysia
9.5.4 Life Insurance Association of Malaysia (LIAM)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Corporate tax
9.8.3 VAT
9.8.4 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 Appendix
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetrics Services
12.4 Disclaimer
List Of Tables
Table 1: Malaysian Non-Life Insurance - Key Facts, 2014
Table 2: Malaysian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Malaysian Government Credit Ratings
Table 4: Malaysian Non-Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2010-2014
Table 5: Malaysian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Malaysian Non-Life Insurance - Gross Written Premium (MYR Billion and US$ Billion), 2014-2019
Table 7: Malaysian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Malaysian Non-Life Insurance - Premium per Capita (MYR and US$), 2010-2014
Table 9: Malaysian Non-Life Insurance - Premium per Capita (MYR and US$), 2014-2019
Table 10: Malaysian Non-Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2010-2014
Table 11: Malaysian Non-Life Insurance - Paid Claims (MYR Billion and US$ Billion), 2014-2019
Table 12: Malaysian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Malaysian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Malaysian Non-Life Insurance - Total Assets (MYR Billion and US$ Billion), 2010-2014
Table 15: Malaysian Non-Life Insurance - Total Assets (MYR Billion and US$ Billion), 2014-2019
Table 16: Malaysian Non-Life Insurance - Total Investment Income (MYR Billion and US$ Billion), 2010-2014
Table 17: Malaysian Non-Life Insurance - Total Investment Income (MYR Billion and US$ Billion), 2014-2019
Table 18: Malaysian Non-Life Insurance - Investment Portfolio (MYR Billion), 2010-2014
Table 19: Malaysian Non-Life Insurance - Investment Portfolio (MYR Billion), 2014-2019
Table 20: Malaysian Non-Life Insurance - Gross Written Premium by Category (MYR Billion), 2010-2014
Table 21: Malaysian Non-Life Insurance - Gross Written Premium by Category (MYR Billion), 2014-2019
Table 22: Malaysian Property Insurance - Gross Written Premium by Sub-Category (MYR Billion), 2010-2014
Table 23: Malaysian Property Insurance - Gross Written Premium by Sub-Category (MYR Billion), 2014-2019
Table 24: Malaysian Property Insurance - Paid Claims (MYR Billion and US$ Billion), 2010-2014
Table 25: Malaysian Property Insurance - Paid Claims (MYR Billion and US$ Billion), 2014-2019
Table 26: Malaysian Property Insurance - Loss Ratio (%), 2010-2014
Table 27: Malaysian Property Insurance - Loss Ratio (%), 2014-2019
Table 28: Malaysia Motor - Private Cars Tariff Premiums (MYR), 2015
Table 29: Malaysia Motor - Private Cars Tariff Premiums (MYR), 2014
Table 30: Malaysian Motor Insurance - Gross Written Premium by Sub-Category (MYR Billion), 2010-2014
Table 31: Malaysian Motor Insurance - Gross Written Premium by Sub-Category (MYR Billion), 2014-2019
Table 32: Malaysian Motor Insurance - Paid Claims (MYR Billion and US$ Billion), 2010-2014
Table 33: Malaysian Motor Insurance - Paid Claims (MYR Billion and US$ Billion), 2014-2019
Table 34: Malaysian Motor Insurance - Loss Ratio (%), 2010-2014
Table 35: Malaysian Motor Insurance - Loss Ratio (%), 2014-2019
Table 36: Malaysian Liability Insurance - Gross Written Premium (MYR Billion), 2010-2014
Table 37: Malaysian Liability Insurance - Gross Written Premium (MYR Billion), 2014-2019
Table 38: Malaysian Liability Insurance - Paid Claims (MYR Billion and US$ Billion), 2010-2014
Table 39: Malaysian Liability Insurance - Paid Claims (MYR Billion and US$ Billion), 2014-2019
Table 40: Malaysian Liability Insurance - Loss Ratio (%), 2010-2014
Table 41: Malaysian Liability Insurance - Loss Ratio (%), 2014-2019
Table 42: Malaysian Marine, Aviation and Transit Insurance - Gross Written Premium (MYR Billion), 2010-2014
Table 43: Malaysian Marine, Aviation and Transit Insurance - Gross Written Premium (MYR Billion), 2014-2019
Table 44: Malaysian Marine, Aviation and Transit Insurance - Paid Claims (MYR Billion and US$ Billion), 2010-2014
Table 45: Malaysian Marine, Aviation and Transit Insurance - Paid Claims (MYR Billion and US$ Billion), 2014-2019
Table 46: Malaysian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 47: Malaysian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 48: Malaysian Non-Life Insurance - Direct Written Premium by Distribution Channel (MYR Billion), 2010-2014
Table 49: Malaysian Non-Life Insurance - Direct Written Premium by Distribution Channel (MYR Billion), 2014-2019
Table 50: Malaysian Non-Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2010-2019
Table 51: Malaysian Non-Life Insurance - Bancassurance Agreements
Table 52: Malaysian Average Annual Loss by Hazard, 1990-2014
Table 53: Malaysian Major Natural Hazards, 1990-2014
Table 54: Top 10 Natural Hazards in Malaysia by Economic Damage, 1990-2014
Table 55: Top 10 Natural Hazards in Malaysia by Number of Affected People, 1990-2014
Table 56: Malaysian Non-Life Insurance - Shares of Top Insurers (%), 2014
Table 57: Allianz General Insurance Company (Malaysia) Bhd - Key Facts
Table 58: Allianz General Insurance Company (Malaysia) Bhd - Key Financials (MYR Million), 2010-2014
Table 59: MSIG Insurance (Malaysia) Bhd - Key Facts
Table 60: MSIG Insurance (Malaysia) Bhd - Key Financials (MYR Million), 2010-2014
Table 61: Etiqa Insurance Bhd - Key Facts
Table 62: Etiqa Insurance Bhd - Key Financials (MYR Million), 2010-2014
Table 63: Lonpac Insurance Bhd - Key Facts
Table 64: Lonpac Insurance Bhd - Key Financials (MYR Million), 2010-2014
Table 65: Axa Affin General Insurance Bhd - Key Facts
Table 66: Axa Affin General Insurance Bhd - Key Financials (MYR Million), 2010-2014
Table 67: Malaysia - Insurance Regulatory Framework Key Features
Table 68: Malaysia - Life Insurance Regulatory Framework
Table 69: Malaysia - Property Insurance Regulatory Framework
Table 70: Malaysia - Motor Insurance Regulatory Framework
Table 71: Malaysia - Liability Insurance Regulatory Framework
Table 72: Malaysia - Licensing Fee Structure for Insurers and Intermediaries
Table 73: Malaysia - Annual Fee Structure for Licensed Insurers
Table 74: Malaysia - Corporate Tax Rates for the Financial Year 2015
Table 75: Malaysian Insurance Industry - Policies and Premium, 2010-2014
Table 76: Malaysian Insurance Industry - Policies and Premium, 2014-2019
Table 77: Malaysian Non-Life Insurance - Policies and Premium, 2010-2014
Table 78: Malaysian Non-Life Insurance - Policies and Premium, 2014-2019
Table 79: Malaysian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 80: Malaysian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 81: Malaysian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 82: Malaysian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 83: Malaysian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 84: Malaysian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 85: Malaysian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 86: Malaysian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 87: Malaysian Non-Life Insurance - Gross Written Premium by Sub-Category (MYR Million), 2010-2014
Table 88: Malaysian Non-Life Insurance - Gross Written Premium by Sub-Category (MYR Million), 2014-2019
Table 89: Malaysian Non-Life Insurance - Direct Written Premium by Sub-Category (MYR Million), 2010-2014
Table 90: Malaysian Non-Life Insurance - Direct Written Premium by Sub-Category (MYR Million), 2014-2019
Table 91: Malaysian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 92: Malaysian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 93: Insurance Industry Definitions
List Of Figures
Figure 1: Malaysian Real GDP (MYR Trillion), 2010-2019
Figure 2: MYR - US$ Exchange Rate, 2010-2019
Figure 3: Malaysian Consumer Price Inflation, 2010-2019
Figure 4: Malaysian Current Account Balance as Percentage of GDP (%), 2010-2013
Figure 5: Malaysian Unemployment Rate, 2010-2019
Figure 6: Malaysian Population by Age Group, 1991-2025
Figure 7: Malaysian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Malaysian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Malaysian Non-Life Insurance - Gross Written Premium (MYR Billion), 2010-2019
Figure 10: Malaysian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Malaysian Non-Life Insurance - Premium per Capita (MYR), 2010-2019
Figure 12: Malaysian Non-Life Insurance - Paid Claims (MYR Billion), 2010-2019
Figure 13: Malaysian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Malaysian Non-Life Insurance - Total Assets (MYR Billion), 2010-2019
Figure 15: Malaysian Non-Life Insurance - Total Investment Income (MYR Billion), 2010-2019
Figure 16: Malaysian Non-Life Insurance - Investment Portfolio (MYR Billion), 2010-2019
Figure 17: Malaysian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Malaysian Non-Life Insurance - Gross Written Premium by Category (MYR Billion and US$ Billion), 2010-2019
Figure 19: Malaysian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 20: Malaysian Property Insurance - Construction Value Output by Category (MYR Billion), 2010-2019
Figure 21: Malaysian Property Insurance - Gross Written Premium by Sub-Category (unit), 2010-2019
Figure 22: Malaysian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 23: Malaysian Property Insurance - Paid Claims (MYR Billion), 2010-2019
Figure 24: Malaysian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (MYR Billion and %), 2010-2019
Figure 25: Malaysia - New Vehicle Sales, 2010-2014
Figure 26: Malaysian Motor Insurance - Gross Written Premium by Sub-Category (MYR Billion), 2010-2019
Figure 27: Malaysian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 28: Malaysian Motor Insurance - Paid Claims (MYR Billion), 2010-2019
Figure 29: Malaysian Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (MYR Billion and %), 2010-2019
Figure 30: Malaysian Liability Insurance - Gross Written Premium (MYR Billion), 2010-2019
Figure 31: Malaysian Liability Insurance - Paid Claims (MYR Billion), 2010-2019
Figure 32: Malaysian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (MYR Billion and %), 2010-2019
Figure 33: Malaysia - Number of Domestic and Foreign Ship Arrivals, 2010-2014
Figure 34: Malaysia - Merchandise Exports, Imports and Trade Balance (US$ Billion), 2010-2014
Figure 35: Malaysian Marine, Aviation and Transit Insurance - Gross Written Premium (MYR Billion), 2010-2019
Figure 36: Malaysian Marine, Aviation and Transit Insurance - Paid Claims (MYR Billion), 2010-2019
Figure 37: Malaysian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (MYR Billion and %), 2010-2019
Figure 38: Malaysian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 39: Malaysian Mortality (%) by Type of Natural Hazards, 1990-2014
Figure 40: Malaysian Non-Life Insurance - Shares of Top Insurers (%), 2014
Figure 41: Malaysian Non-Life Insurance - Top Insurers Gross Written Premium Growth Relative to Segment Overall (%), 2010-2014
Figure 42: Malaysia - Insurance Supervision and Control at Various Levels
Figure 43: Malaysia - Insurance Regulatory Frameworks for Company Registration and Operation
