Malaysia's life insurance industry to surpass $15.9bn by 2027

Written by Adam Cadle

18/05/2023

The Malaysian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.2% from MYR57.5bn ($13.1bn) in 2023 to MYR70.3bn ($15.9bn) in 2027, in terms of gross written premiums (GWP), according to GlobalData.

Malaysia’s life insurance industry is estimated to grow by 2.4% in 2023, supported by rising awareness of health and financial planning, low-cost term life and endowment insurance products as well as favourable regulatory developments.

Manogna Vangari, insurance analyst at GlobalData, commented: “After witnessing strong growth of 9.3% in 2021, the Malaysian life insurance industry’s GWP witnessed a slower growth of 1.2% in 2022. The reopening of the economy after the pandemic and a lower disposable income led to a change in consumer preference away from non-essential commodities. These impacted the sales of life insurance policies in 2022.”

There are no related documents to show at this time.

Portfolio optimisation in today’s challenging market environment

Adam Cadle speaks to Dr Laura Ryan, Head of Research at Ardea Investment Management, about the firm’s insurance asset allocation optimisation tool and the reasons for developing it

The role ETFs can play in the ESG journey for insurers

Justin Wheeler, Head of UK iShares Asset Owner Distribution at BlackRock, and Mark Guirey, Head of EMEA Insurance Segment and UK Asset Owner Client Coverage at MSCI, discuss the drivers behind growth in this area, market reactions to COVID-19, and the role of indexing