Malaysian life insurance improved in 2018. According to life Insurance Association of Malaysia (LIAM), life premiums amounted to 38.8 billion MYR (9.34 billion USD) in 2018, an increase of 5.7% over one year.
The per-capita sum insured rose by 8.3% in 2018. However, it remains low in absolute value, that is 46 610 MYR (11 216 USD).
The number of insured lives increased from 9.6 million in 2017 at 10.1 million in 2018, a rise of 5.2%. Paid claims grew by 6.9% at 10.8 billion MYR (2.6 billion USD). This increase in compensation is mainly due to higher medical claims.
The insurance density remains relatively low, which implies an important development potential of life and health insurance.
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