Spotlight on Malaysia - Difficult year ahead but not insurmountable
Source: Asia Insurance Review | May 2009
Malaysia’s economy recorded decent figures last year. The Bank of Negara Malaysia (BNM) reported a growth of 4.6% in 2008 – this, amidst the international financial turmoil and rapid deterioration in global economic environment. For the insurance sector, total net premium and contribution income of this industry grew by 2.4%, attributed mainly to the expansion in the market share of takaful business. The new Risk-Based Capital Framework which took effect on 1 January 2009 is expected to further strengthen the industry. Here, we take a quick look at the Malaysian insurance industry and how it performed last year. By Ms Min Yong
Archived articles are available to Magazine subscribers only.
For Full Access to
the magazine
SUBSCRIBE here.