According to PricewaterhouseCoopers, mergers and acquisitions will continue to shake the Malaysian insurance market this year. The poor penetration rate in life insurance and the fragmentation of the non-life market will be the market’s major drivers. In 2009, the government deregulated the shareholding structure by opening the capital of companies to foreigners with up to 70% instead of 49%. Since 2010, four similar operations have been undertaken. Foreign insurers have always directly or indirectly taken part in these movements (Mitsui Sumitomo, ACE, Sompo Japan and AmG Insurance).