Magazine date:
Apr 2016 The Malaysian insurance market grew by 2.3% at 17.49 billion MYR (4.07 billion USD) in 2015, compared to 5.9% a year earlier. The motor class of business is dominating the scene, accounting for a market share of 46.3%, witnessing a 2.1% rise of its gross written premiums at 8.1 billion MYR (1.8 billion USD). It is followed by fire insurance with 17.8% in market share thanks to a 5.5% increase of its turnover at 3.1 billion MYR (722 million USD).
Health insurance decreased by 4% at less than 1 billion MYR (233 million USD). Underwriting profits, generated by most Malaysian insurers amounted to 1 461 million MYR (340 million USD), a 1.8% decline in comparison with 2014.