Further consolidation expected on the market

Due to the introduction of new directives, rating agency Fitch is expecting an increase of mergers and acquisitions among life and non-life insurers, and particularly takaful in Malaysia. Islamic insurers will benefit from new standards of capital-risk measurement. For traditional insurers, the separation of life and non-life activities will be rendered compulsory. According to Fitch, the market will remain attractive thanks to several factors, including steady growth in revenues, decent operating margins, and appropriate level of share capital. The main black spots pertain to the poor results of the compulsory motor third party liability and to the volatility of equity markets.

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