Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2019

Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2019

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Published on Oct 13, 2015 - 120 pages

Timetric's 'Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Malaysian personal accident and health insurance segment, including:
  • The Malaysian personal accident and health insurance segment's growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • A comprehensive overview of the Malaysian economy and demographics
  • The various distribution channels in the Malaysian life insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in Malaysia
  • Details of regulatory policy applicable to the Malaysian insurance industry
Report Highlights
  • It is the smallest insurance segment in the country, holding a 4.3% share of the industry's total gross written premium.
  • Malaysian insurers are allocating a part of their annual budgets to promotional campaigns to increase the awareness of health insurance.
  • The personal accident category led the segment in 2014, with a segment share of 55.6%, after recording a review-period CAGR of 4.5%.
  • In terms of gross written premium contributions, health insurance was the second-largest category in the segment, with a 44.0% share in 2014.
  • Under the regulations set by the BNM, however, all insurance intermediaries must register themselves with the regulatory authority in order to conduct operations in the Malaysian insurance industry.
  • Both life and non-life insurers operate in the Malaysian personal accident and health insurance segment.
Report Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Malaysia:
  • It provides historical values for the Malaysian personal accident and health insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
  • It offers a detailed analysis of the key categories in the Malaysian personal accident and health insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for personal accident and health insurance products in Malaysia.
  • It profiles the top personal accident and health insurance companies in Malaysia, and outlines the key regulations affecting them.
Reasons to Get this Report
  • Make strategic business decisions using in-depth historic and forecast market data related to the Malaysian personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Malaysian personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Malaysian insurance industry, and their impact on companies and the industry's future.


Table of Contents

1 Key Facts and Highlights
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Economy and Demographics
5 Personal Accident and Health Insurance Segment Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance
5.4.2 Health insurance
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 Brokers
7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Malaysian Personal Accident and Health Insurance Segment
7.2.1 Allianz General Insurance Company (Malaysia) Berhad - company overview
7.2.2 MSIG Insurance (Malaysia) Bhd - company overview
7.2.3 Etiqa Insurance Berhad - company overview
7.2.4 Lonpac Insurance Berhad - company overview
7.2.5 Axa Affin General Insurance Bhd - company overview
7.2.6 Tokio Marine Insurans (Malaysia) Berhad - company overview
7.2.7 ACE Jerneh Insurance Bhd - company overview
7.2.8 Zurich Insurance Malaysia Berhad - company overview
7.2.9 Multi-Purpose Insurans Berhad - company overview
7.2.10 Berjaya Sompo Insurance Berhad - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
8.3 Regulations by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.12 Marine, aviation and transit insurance
8.3.13 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Travel insurance
8.4.3 Workmen's compensation insurance
8.4.4 Insurance against liability for pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Central Bank of Malaysia or Bank Negara Malaysia
8.5.3 General Insurance Association of Malaysia
8.5.4 Life Insurance Association of Malaysia (LIAM)
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Types of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margins
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Corporate tax
8.8.3 VAT
8.8.4 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer


List of Tables

Table 1: Malaysian Personal Accident and Health Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Malaysian Government Credit Ratings
Table 4: Malaysian Personal Accident and Health Insurance - Gross Written Premium by Category (MYR Billion), 2010-2014
Table 5: Malaysian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014


Companies Mentioned:

Allianz General Insurance Company (Malaysia) Berhad
MSIG Insurance (Malaysia) Bhd
Etiqa Insurance Berhad
Lonpac Insurance Berhad
AXA Affin General Insurance Berhad
Tokio Marine Insurans (Malaysia) Berhad
ACE Jerneh Insurance Berhad
Zurich Insurance Malaysia Berhad
Multi-Purpose Insurans Berhad
Berjaya Sompo Insurance Berhad