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Malaysian insurance market: 8.4% annual growth in 2026

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Magazine Issue: 
CIMA, a tremendous success [3]
Magazine date: 
Jul 2022

malaisieAccording to GlobalData, the turnover of the Malaysian insurance sector is expected to increase by 8.4% to reach 109.6 billion MYR (26.7 billion USD) in 2026 against 73.1 billion MYR (17.6 billion USD) in 2021.

The market is dominated by life and pension insurance with a 75.8% market share in 2021 against 24.2% for the non-life class of business.

The average annual growth rate for the period 2021-2026 is estimated at 9.5% for the life and pension activity and at 4.8% for the non-life class of business.

The P&C market growth is expected to be mainly driven by the evolution of motor premiums.

Read also | Axa closes the sale of its activities in Malaysia [4]

Thu, 08/09/2022 - 17:10

Source URL: https://www.atlas-mag.net/en/category/pays/malaisie/malaysian-insurance-market-84-annual-growth-in-2026

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-193-july-2022
[4] https://www.atlas-mag.net/en/category/pays/malaisie/axa-closes-the-sale-of-its-activities-in-malaysia