INSURANCE IN

MALAYSIA

Pham My An - IFF20-2
SIZE OF THE INSURANCE MARKET

Malaysia’s insurance industry grew by 7.6%

in 2021 after declining by 2.8% in 2020 due
to the COVID-19 pandemic-induced
economic slowdown.

The life insurance and pension segment

accounted for 75.8% of written premiums in
2021.

General insurance accounted for the

remaining 24.2% share of insurance
premiums in 2021.

Increasing demand for life insurance

products backed by growth in investment-
linked policies will drive the growth of
Malaysia’s insurance industry over the next
five years.
Top 10 Leading Insurance Companies in Malaysia
● Prudential Assurance Malaysia.
● AXA Insurance.
● American International Assurance (AIA)
● Manulife Malaysia.
● Allianz Life Insurance Malaysia.
● Great Eastern Life Assurance (Malaysia)
● Tokio Marine Life Insurance.
● AmMetLife Insurance Berhad.
 TYPES OF INSURANCE IN
MALAYSIA

Health (Medical) Insurance

Health insurance can help in the case of an emergency, as it has coverage
that pays for health and medical expenses.

Property insurance
Property insurance covers your personal assets like your house or your vehicle. There
are three kinds of policies for home insurance: householder policy, homeowner policy,
and fire policy.

Property insurance
Personal accident insurance and travel insurance fall under this type. Accidents could occur anytime to anyone.
In case of your demise, disability or injuries
LIFE INSURANCE

Life insurance is financial protection against unfortunate events, such as sudden death, total permanent
disability, critical illness, or terminal illness.
THE END