Industry Dynamics and Competitive Landscape in the Malaysian Non-Life Insurance Industry to 2016: Market Profile

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					Industry Dynamics and
Competitive Landscape in the
Malaysian Non-Life Insurance
Industry to 2016: Market Profile
Market Profile

Reference code: IN1100MP

Published: October 2012

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 TABLE OF CONTENTS



TABLE OF CONTENTS

1      Introduction ..................................................................................................................... 9
    1.1 What is this Report About? ........................................................................................................ 9
    1.2 Definitions ................................................................................................................................. 9
    1.3 Methodology ........................................................................................................................... 11
2      Malaysian Insurance Industry Attractiveness............................................................. 13
    2.1 Insurance Industry Market Size, 2007–2016 ........................................................................... 15
    2.2 Key Industry Trends and Drivers ............................................................................................. 19
        2.2.1     Business drivers ............................................................................................................................... 19
        2.2.2     Consumer drivers ............................................................................................................................. 19
    2.3 Recent Market Developments ................................................................................................. 20
3      Regulatory Policies ....................................................................................................... 21
4      Porter’s Five Forces Analysis – Malaysian Non-Life Insurance Market ................... 23
    4.1 Bargaining Power of Supplier: Low.......................................................................................... 23
    4.2 Bargaining Power of Buyer: Medium ....................................................................................... 24
    4.3 Barriers to Entry: Low .............................................................................................................. 24
    4.4 Intensity of Rivalry: Medium to High ........................................................................................ 24
    4.5 Threat of Substitutes: Low ....................................................................................................... 24
5      Competitive Landscape and Strategic Insights .......................................................... 25
    5.1 Overview ................................................................................................................................. 25
    5.2 Leading Companies in the Malaysian Non-Life Insurance Segment ........................................ 26
        5.2.1     Gross written premium ...................................................................................................................... 27
        5.2.2     Outwards reinsurance expense ........................................................................................................ 28
        5.2.3     Gross claims ..................................................................................................................................... 29
        5.2.4     Net earned premium ......................................................................................................................... 30
        5.2.5     Paid claims ....................................................................................................................................... 31
        5.2.6     Total assets ...................................................................................................................................... 32
        5.2.7     Total investment income ................................................................................................................... 33
    5.3 MSIG Malaysia – Company Overview ..................................................................................... 34
        5.3.1     MSIG Malaysia – key facts ............................................................................................................... 34
        5.3.2     MSIG Malaysia – key financials ........................................................................................................ 34
    5.4 Allianz General Insurance Company – Company Overview .................................................... 35
        5.4.1     Allianz General Insurance Company – key facts .............................................................................. 35
        5.4.2     Allianz General Insurance Company – key financials ...................................................................... 35
    5.5 Tokio Marine Insurans (Malaysia) Bhd – Company Overview.................................................. 36
        5.5.1     Tokio Marine Insurans (Malaysia) Bhd – key facts ........................................................................... 36
        5.5.2     Tokio Marine Insurans (Malaysia) Bhd – key financials ................................................................... 36
    5.6 Etiqa Insurance Bhd – Company Overview ............................................................................. 37
        5.6.1     Etiqa Insurance Bhd – key facts ....................................................................................................... 37


Industry Dynamics and Competitive Landscape in the Malaysian Non-Life Insurance Industry
                                                                                                                                                                       Page 2
to 2016: Market Profile

© Timetric. This product is licensed and is not to be photocopied                                                                                Published: October 2012
 TABLE OF CONTENTS



       5.6.2      Etiqa Insurance Bhd – key financials ................................................................................................ 37
    5.7 Kurnia Insurans (Malaysia) Bhd – Company Overview ............................................................ 38
       5.7.1      Kurnia Insurans (Malaysia) Bhd – key facts ..................................................................................... 38
       5.7.2      Kurnia Insurans (Malaysia) Bhd – key financials .............................................................................. 38
    5.8 Lonpac Insurance Bhd – Company Overview .......................................................................... 39
       5.8.1      Lonpac Insurance Bhd – key facts ................................................................................................... 39
       5.8.2      Lonpac Insurance Bhd – key financials ............................................................................................ 39
    5.9 Berjaya Sompo Insurance Bhd – Company Overview ............................................................. 40
       5.9.1      Berjaya Sompo Insurance Bhd – key facts....................................................................................... 40
       5.9.2      Berjaya Sompo Insurance Bhd – key financials ............................................................................... 40
    5.10 Uni.Asia General Insurance Bhd – Company Overview........................................................... 41
       5.10.1 Uni.Asia General Insurance Bhd – key facts .................................................................................... 41
       5.10.2 Uni.Asia General Insurance Bhd – key financials ............................................................................ 41
    5.11 MAA Assurance – Company Overview .................................................................................... 42
       5.11.1 MAA Assurance – key facts .............................................................................................................. 42
       5.11.2 MAA Assurance – key financials ...................................................................................................... 42
6      Business Environment and Country Risk ................................................................... 43
    6.1 Business Confidence .............................................................................................................. 43
       6.1.1      Business confidence indicator .......................................................................................................... 43
       6.1.2      Market capitalization trend – the Bursa Malaysia stock exchange, Malaysia .................................. 44
    6.2 Economic Performance ........................................................................................................... 45
       6.2.1      GDP at constant prices (US dollars) ................................................................................................. 45
       6.2.2      GDP per capita at constant prices (US dollars) ................................................................................ 46
       6.2.3      GDP at current prices (US dollars) ................................................................................................... 47
       6.2.4      GDP per capita at current prices (US dollars) .................................................................................. 48
       6.2.5      GDP by key segments ...................................................................................................................... 49
       6.2.6      Agriculture net output at current prices (Malaysian ringgit) .............................................................. 50
       6.2.7      Agriculture net output at current prices (US dollars) ........................................................................ 51
       6.2.8      Agriculture net output at current prices as a percentage of GDP ..................................................... 52
       6.2.9      Manufacturing net output at current prices (Malaysian ringgit) ........................................................ 53
       6.2.10 Manufacturing net output at current prices (US dollars) ................................................................... 54
       6.2.11 Manufacturing net output at current prices as a percentage of GDP ............................................... 55
       6.2.12 Mining, manufacturing and utilities net output at current prices (Malaysian ringgit) ........................ 56
       6.2.13 Mining, manufacturing and utilities at current prices (US dollars) .................................................... 57
       6.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP .................................. 58
       6.2.15 Construction net output at current prices (Malaysian ringgit) ........................................................... 59
       6.2.16 Construction net output at current prices, (US dollars) .................................................................... 60
       6.2.17 Construction net output at current prices as a percentage of GDP .................................................. 61
       6.2.18 Inflation rate ...................................................................................................................................... 62
       6.2.19 Current account balance as a percentage of GDP ........................................................................... 63
       6.2.20 Exports as a percentage of GDP ...................................................................................................... 64


Industry Dynamics and Competitive Landscape in the Malaysian Non-Life Insurance Industry
                                                                                                                                                                     Page 3
to 2016: Market Profile

© Timetric. This product is licensed and is not to be photocopied                                                                              Published: October 2012
 TABLE OF CONTENTS



       6.2.21 Imports as a percentage of GDP ...................................................................................................... 65
       6.2.22 Exports growth .................................................................................................................................. 66
       6.2.23 Imports growth .................................................................................................................................. 67
       6.2.24 External debt as a percentage of GDP ............................................................................................. 68
       6.2.25 Annual average exchange rate US$–MYR....................................................................................... 69
       6.2.26 End-of-period exchange rate US$–MYR .......................................................................................... 70
    6.3 Infrastructure Quality and Availability ...................................................................................... 71
       6.3.1      Total airports and sea ports .............................................................................................................. 71
       6.3.2      Railways and roadways .................................................................................................................... 72
       6.3.3      Passenger vehicle production volume .............................................................................................. 73
       6.3.4      Commercial vehicle production volume ............................................................................................ 74
       6.3.5      Automotive component exports trend ............................................................................................... 75
       6.3.6      Automotive component imports trend ............................................................................................... 76
       6.3.7      Passenger car penetration ............................................................................................................... 77
       6.3.8      Healthcare expenditure..................................................................................................................... 78
       6.3.9      Healthcare expenditure as a percentage of GDP ............................................................................. 79
       6.3.10 Healthcare expenditure per capita .................................................................................................... 80
       6.3.11 Total internet subscribers .....................
				
DOCUMENT INFO
Description: This report is the result of extensive research into the non-life insurance market in Malaysia, covering the market’s dynamics and competitive landscape. It provides insights into the market size and forecast for the non-life insurance segment including regulatory policies, business environment and country risk. This report also provides key facts and financials for the leading companies in the Malaysian non-life insurance market.
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