Magazine date:
Jul 2013 Gross premiums written in non-life business posted a growth of 8.2% at 15.2 billion MYR (5.08 billion USD) in Malaysia in 2012. The volume of net premiums increased by 8.3% at 10.5 billion MYR (3.5 billion USD). Recent studies have shown that the market is still endowed with great potential due to moderate penetration rate. Motor insurance dominates the non-life market with 46.6% of overall premiums, followed by fire with 16.4% of the turnover. The market net loss ratio has dwindled down from 60.7% in 2011 to 57.1% in 2012.