Agency Annualised New Premiums & Financial Results FY 2019
MALAYSIA INSURANCE MARKET IS UNDER PENETRATED BUT
GROWTH REMAINS SUBDUED AND CHALLENGING
Malaysian Conventional Insurance Industry
21
38,918
General insurers
General agents
14
Life insurers
75,707¹
Life agents
1.3%
Insurance penetration
(% of GDP)
3.1%
2
Insurance penetration
(% of GDP)
3
+ Life insurance & Family Takaful coverage of 41.0% (2017: 36.5%)
Data source:-
1 No of Agents from LIAM Annual Report 2018
-0.8%
GWP GROWTH 2019
(2018 +1.5%)
+14.8%
ANP GROWTH 2019
(2018 +1.0%)
2 General - defined as Gross Written Premium/Gross Domestic Product, Life defined as total inforce policies premium/Gross Domestic Product
3 Percentage of Malaysians who own at least one individual life insurance or family takaful policy in 2018 (Source: Bank Negara Malaysia)
O Copyright Allianz SE
Allianz
4.3%
GDP GROWTH 2019
(2018 +4.7%)
-2.0% -
+0.5%
PROJECTED GDP
GROWTH 2020
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