1st edition of the Malaysian Insurance Highlights launched

Monday 16.12.2019 // Newsletter

Malaysia’s general insurance market is undergoing a phase of transformation: In light of the recent de-tariffication of the dominant motor and fire classes, the country’s insurers need to embrace new competitive parameters. Despite the market’s liberalisation, underinsurance in particular in the country’s B40 segment – the lower-income part of the population – remains a challenge. Due to its mutuality, Takaful insurance might be well suited for promoting insurance in this segment. Technology and digitisation will reshape Malaysia’s insurance market as products become more affordable, accessible and appealing.

In view of these fundamental changes, Malaysian Re has asked Dr. Schanz, Alms & Company to identify and analyse the key trends in the market-place and to provide some guidance as to their direction.

The study, the Malaysian Insurance Highlights, which going forward will be published annually, was launched on 4 December 2019 at an industry event in Kuala Lumpur at Bank Negara Malaysia – Malaysia’s central bank – by Adnan Zaylani Mohamad Zahid, Assistant Governor of Bank Negara Malaysia (BNM) as well as by YBhg. Datuk Johar Che Mat, Chairman of MNRB Holdings Berhad (MNRB) and Zainudin Ishak, President and Chief Executive Officer of Malaysian Re.

For more information on the Malaysian Insurance Highlights 2019, click here

Henner Alms, founding partner of Dr. Schanz, Alms and company presented the key findings.

For impressions of the launch at Bank Negara Malaysia (BNM), click here.

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