The Malaysian Life Insurance Segment Registered Steady Growth At A Review-Period CAGR of 6.0%

Date: 2015-09-10

“• The Malaysian life insurance segment registered steady growth at a review-period CAGR of 6.0% in terms of gross written premium.

• This was driven by a rising demand for investment-linked products and economic expansion, with these factors expected to support the segment over the forecast period. 

• The popularity of investment-linked products is due to the fact that they offer a combination of life insurance cover and investments with higher returns than normal deposit rates.

• High domestic demand was supported by economic growth in 2014. 

• In October 2014, the Malaysian government set its 2015 Budget, which increased the tax free income limit and also enacted several tax reforms, including the implementation of goods and service tax (GST), with effect from April 1, 2015.”

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