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

Published By :

Timetric

Published Date : Oct 2015

Category :

Health Insurance

No. of Pages : 120 Pages

Synopsis

Timetric

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 Table

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
Table 6: Malaysian Personal Accident and Health Insurance – Gross Written Premium by Category (MYR Billion), 2014–2019
Table 7: Malaysian Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2014–2019
Table 8: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (MYR Billion), 2010–2014
Table 9: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2010–2014
Table 10: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (MYR Billion), 2014–2019
Table 11: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2014–2019
Table 12: Malaysian Personal Accident and Health Insurance – Net Earned Premium (MYR Billion), 2010–2014
Table 13: Malaysian Personal Accident and Health Insurance – Net Earned Premium (MYR Billion), 2014–2019
Table 14: Malaysian Personal Accident and Health Insurance – Paid Claims by Category (MYR Million), 2010–2014
Table 15: Malaysian Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2010–2014
Table 16: Malaysian Personal Accident and Health Insurance – Paid Claims by Category (MYR Million), 2014–2019
Table 17: Malaysian Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2014–2019
Table 18: Malaysian Personal Accident and Health Insurance – Incurred Loss by Category (MYR Million), 2010–2014
Table 19: Malaysian Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2010–2014
Table 20: Malaysian Personal Accident and Health Insurance – Incurred Loss by Category (MYR Million), 2014–2019
Table 21: Malaysian Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2014–2019
Table 22: Malaysian Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Table 23: Malaysian Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Table 24: Malaysian Personal Accident and Health Insurance – Commission and Expenses (MYR Billion), 2010–2014
Table 25: Malaysian Personal Accident and Health Insurance – Commission and Expenses (MYR Million), 2014–2019
Table 26: Malaysian Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Table 27: Malaysian Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Table 28: Malaysian Personal Accident and Health Insurance – Total Assets (MYR Billion), 2010–2014
Table 29: Malaysian Personal Accident and Health Insurance – Total Assets (MYR Billion), 2014–2019
Table 30: Malaysian Personal Accident and Health Insurance – Total Investment Income (MYR Million), 2010–2014
Table 31: Malaysian Personal Accident and Health Insurance – Total Investment Income (MYR Million), 2014–2019
Table 32: Malaysian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Table 33: Malaysian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Table 34: Malaysian Personal Accident Insurance – Direct Written Premium (MYR Billion), 2010–2014
Table 35: Malaysian Personal Accident Insurance – Direct Written Premium (MYR Billion), 2014–2019
Table 36: Malaysian Personal Accident Insurance – Loss Ratio (%), 2010–2014
Table 37: Malaysian Personal Accident Insurance – Loss Ratio (%), 2014–2019
Table 38: Malaysian Health Insurance – Direct Written Premium (MYR Billion), 2010–2014
Table 39: Malaysian Health Insurance – Direct Written Premium (MYR Billion), 2014–2019
Table 40: Malaysian Health Insurance – Paid Claim (MYR Million), 2010–2014
Table 41: Malaysian Health Insurance – Paid Claim (MYR Million), 2014–2019
Table 42: Malaysian Health Insurance – Loss Ratio (%), 2010–2014
Table 43: Malaysian Health Insurance – Loss Ratio (%), 2014–2019
Table 44: Malaysian Personal Accident and Health Insurance – Sales Force, 2010–2014
Table 45: Malaysian Personal Accident and Health Insurance – Sales Force, 2014–2019
Table 46: Malaysian Personal Accident and Health Insurance – Number of Banking Entities, 2010–2014
Table 47: Malaysian Personal Accident and Health Insurance – Number of Banking Entities, 2014–2019
Table 48: Malaysian Personal Accident and Health Insurance – Number of Insurance Agents, 2010–2014
Table 49: Malaysian Personal Accident and Health Insurance – Number of Insurance Agents, 2014–2019
Table 50: Malaysian Personal Accident and Health Insurance – Number of Insurance Brokers, 2010–2014
Table 51: Malaysian Personal Accident and Health Insurance – Number of Insurance Brokers, 2014–2019
Table 52: Key Insurers in the Malaysian Personal Accident and Health Insurance Segment, 2014
Table 53: Allianz General Insurance Company (Malaysia) Berhad – Key Facts
Table 54: MSIG Insurance (Malaysia) Bhd – Key Facts
Table 55: Etiqa Insurance Berhad – Key Facts
Table 56: Lonpac Insurance Berhad – Key Facts
Table 57: Axa Affin General Insurance Berhad – Key Facts
Table 58: Tokio Marine Insurans (Malaysia) Berhad – Key Facts
Table 59: ACE Jerneh Insurance Bhd – Key Facts
Table 60: Zurich Insurance Malaysia Berhad – Key Facts
Table 61: Multi-Purpose Insurans Bhd – Key Facts
Table 62: Berjaya Sompo Insurance Berhad – Key Facts
Table 63: Malaysia – Insurance Regulatory Framework Key Features
Table 64: Malaysia – Life Insurance Regulatory Framework
Table 65: Malaysia – Property Insurance Regulatory Framework
Table 66: Malaysia – Motor Insurance Regulatory Framework
Table 67: Malaysia – Liability Insurance Regulatory Framework
Table 68: Malaysia – Licensing Fee Structure for Insurers and Intermediaries
Table 69: Malaysia – Annual Fee Structure for Licensed Insurers
Table 70: Malaysia – Corporate Tax Rates for the Financial Year 2015

List of Chart

Figure 1: Malaysian Real GDP (MYR Trillion), 2010–2019
Figure 2: MYR – US$ Exchange Rate, 2010–2019
Figure 3: Malaysian Consumer Price Inflation, 2010–2019
Figure 4: Malaysian Current Account Balance as Percentage of GDP (%), 2010–2013
Figure 5: Malaysian Unemployment Rate, 2010–2019
Figure 6: Malaysian Population by Age Group, 1991–2025
Figure 7: Malaysian Personal Accident and Health Insurance – Gross Written Premium by Category (MYR Billion), 2010–2019
Figure 8: Malaysian Personal Accident and Health Insurance – Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Malaysian Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 10: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (MYR Billion), 2010–2019
Figure 11: Malaysian Personal Accident and Health Insurance – Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 12: Malaysian Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 13: Malaysian Personal Accident and Health Insurance – Net Earned Premium (MYR Billion), 2010–2014
Figure 14: Malaysian Personal Accident and Health Insurance – Net Earned Premium (MYR Billion), 2014–2019
Figure 15: Malaysian Personal Accident and Health Insurance – Paid Claims by Category (MYR Million), 2010–2019
Figure 16: Malaysian Personal Accident and Health Insurance – Incurred Loss by Category (MYR Million), 2010–2019
Figure 17: Malaysian Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Figure 18: Malaysian Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Figure 19: Malaysian Personal Accident and Health Insurance – Commission and Expenses (MYR Million), 2010–2014
Figure 20: Malaysian Personal Accident and Health Insurance – Commission and Expenses (MYR Million), 2014–2019
Figure 21: Malaysian Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Figure 22: Malaysian Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Figure 23: Malaysian Personal Accident and Health Insurance – Total Assets (MYR Billion), 2010–2014
Figure 24: Malaysian Personal Accident and Health Insurance – Total Assets (MYR Billion), 2014–2019
Figure 25: Malaysian Personal Accident and Health Insurance – Total Investment Income (MYR Million), 2010–2014
Figure 26: Malaysian Personal Accident and Health Insurance – Total Investment Income (MYR Million), 2014–2019
Figure 27: Malaysian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Figure 28: Malaysian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Figure 29: Malaysian Personal Accident and Health Insurance – Investment Portfolio (MYR Million), 2010–2014
Figure 30: Malaysian Personal Accident and Health Insurance – Investment Portfolio (% Share), 2010 and 2014
Figure 31: Malaysian Personal Accident and Health Insurance Penetration (Ratio of Direct Premium to GDP), 2010–2014
Figure 32: Malaysian Personal Accident and Health Insurance – Density (Direct Premium per Capita), 2010–2014
Figure 33: Malaysian Personal Accident Insurance – Direct Written Premium (MYR Billion), 2010–2014
Figure 34: Malaysian Personal Accident Insurance – Direct Written Premium (MYR Billion), 2014–2019
Figure 35: Malaysian Personal Accident Insurance – Loss Ratio (%), 2010–2014
Figure 36: Malaysian Personal Accident Insurance – Loss Ratio (%), 2014–2019
Figure 37: Malaysian Health Insurance – Direct Written Premium (MYR Billion), 2010–2014
Figure 38: Malaysian Health Insurance – Direct Written Premium (MYR Billion), 2014–2019
Figure 39: Malaysian Health Insurance – Paid Claim (MYR Million), 2010–2014
Figure 40: Malaysian Health Insurance – Paid Claim (MYR Million), 2014–2019
Figure 41: Malaysian Health Insurance – Loss Ratio (%), 2010–2014
Figure 42: Malaysian Health Insurance – Loss Ratio (%), 2014–2019
Figure 43: Malaysian Personal Accident and Health Insurance – Sales Force, 2010–2014
Figure 44: Malaysian Personal Accident and Health Insurance – Sales Force, 2014–2019
Figure 45: Malaysian Personal Accident and Health Insurance – Number of Banking Entities, 2010–2014
Figure 46: Malaysian Personal Accident and Health Insurance – Number of Banking Entities, 2014–2019
Figure 47: Malaysian Personal Accident and Health Insurance – Number of Insurance Agents, 2010–2014
Figure 48: Malaysian Personal Accident and Health Insurance – Number of Insurance Agents, 2014–2019
Figure 49: Malaysian Personal Accident and Health Insurance – Number of Insurance Brokers, 2010–2014
Figure 50: Malaysian Personal Accident and Health Insurance – Number of Insurance Brokers, 2014–2019
Figure 51: Malaysia – Insurance Supervision and Control at Various Levels
Figure 52: Malaysia – Insurance Regulatory Frameworks for Company Registration and Operation

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