Liberalisation To See Insurance Penetration Rate Increase To 75 Pct By 2020

Bank Negara Malaysia’s (BNM) efforts at liberalising the insurance sector will address the protection gap in the country and increase the insurance and takaful penetration rate to 75 per cent by 2020. Life Insurance Association of Malaysia (LIAM) Industry Promotion Committee Chairman Ramzi Toubassy said liberalisation would also help boost insurance sales in the country.[…]

LIAM-MTA To Develop Online Guide For Insurance Products

The Life Insurance Association of Malaysia (LIAM) and the Malaysian Takaful Association (MTA) is developing an integrated financial website, equipped with self-assessment tools to guide consumers in choosing suitable life insurance products. Additionally, the associations would also introduce an online insurance product which would allow consumers to compare prices and product features, said LIAM Management[…]

Single digit growth expected in 2016

PETALING JAYA: The life insurance industry is expected to achieve a moderate single-digit growth in 2016 in view of the challenging environment. “Given the uncertainties faced by the global and local economies, counter-balanced by the low insurance penetration rate in Malaysia, it is expected that the industry will achieve a moderate single-digit growth,” according to[…]