Trends and Opportunities in the Malaysian Non-Life Insurance Industry to 2016: Market Profile

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Trends and Opportunities in the Malaysian Non-Life Insurance Industry to 2016: Market Profile Powered By Docstoc
					Trends and Opportunities in the
Malaysian Non-Life Insurance
Industry to 2016: Market Profile
Market Profile

Reference code: IN1096MP

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      Non-Life Insurance Segment Outlook ......................................................................... 21
    3.1 Non-Life Insurance Growth Prospects by Category ................................................................. 22
        3.1.1     Property insurance category ............................................................................................................. 53
        3.1.2     Fire and allied perils insurance sub-category ................................................................................... 58
        3.1.3     Engineering insurance sub-category ................................................................................................ 62
        3.1.4     Other property insurance sub-category ............................................................................................ 66
    3.2 Motor Insurance Category ....................................................................................................... 70
        3.2.1     Motor hull insurance sub-category ................................................................................................... 75
        3.2.2     Motor third-party insurance sub-category ......................................................................................... 79
    3.3 General Third-Party Insurance Category ................................................................................. 83
    3.4 Marine, Aviation and Transit Insurance Category .................................................................... 89
        3.4.1     Marine insurance sub-category ........................................................................................................ 94
        3.4.2     Marine hull insurance sub-category.................................................................................................. 97
        3.4.3     Marine third-party insurance sub-category ..................................................................................... 101
        3.4.4     Aviation insurance sub-category .................................................................................................... 105
        3.4.5     Transit insurance sub-category ...................................................................................................... 109
4      Analysis by Distribution Channel .............................................................................. 113
    4.1 Direct Marketing Channel ...................................................................................................... 115
    4.2 Bancassurance Channel ....................................................................................................... 123
    4.3 Agencies Channel ................................................................................................................. 131
    4.4 E-Commerce Channel ........................................................................................................... 139
    4.5 Brokers Channel ................................................................................................................... 147
    4.6 Other Channels ..................................................................................................................... 155
5      Appendix ...................................................................................................................... 163
    5.1 Methodology ......................................................................................................................... 163
    5.2 Contact Us ............................................................................................................................ 163
    5.3 About Timetric ....................................................................................................................... 163
    5.4 Disclaimer ............................................................................................................................. 164

Trends and Opportunities in the Malaysian Non-Life Insurance Industry to 2016: Market
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Profile

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



LIST OF FIGURES
Figure 1: Malaysian Insurance – Overall Written Premium by Segment (MYR Billion), 2007–2016 .............................................................. 17
Figure 2: Malaysian Insurance – Market Dynamics by Segment, 2007–2016............................................................................................... 18
Figure 3: Malaysian Non-Life Insurance – Written Premium by Category (MYR Billion), 2007–2016........................................................... 24
Figure 4: Malaysian Non-Life Insurance – Written Premium by Category (% Share), 2011 and 2016 ......................................................... 24
Figure 5: Malaysian Non-Life Insurance – Market Dynamics by Category, 2007–2016 ................................................................................ 25
Figure 6: Malaysian Non-Life Insurance – Earned Premium (MYR Billion), 2007–2011 ............................................................................... 26
Figure 7: Malaysian Non-Life Insurance – Earned Premium (MYR Billion), 2011–2016 ............................................................................... 27
Figure 8: Malaysian Non-Life Insurance – Paid Claims by Category (MYR Billion), 2007–2016 ................................................................... 30
Figure 9: Malaysian Non-Life Insurance – Incurred Loss by Category (MYR Billion), 2007–2016 ................................................................ 33
Figure 10: Malaysian Non-Life Insurance – Loss Ratio (%), 2007–2011 ...................................................................................................... 34
Figure 11: Malaysian Non-Life Insurance – Loss Ratio (%), 2011–2016 ...................................................................................................... 35
Figure 12: Malaysian Non-Life Insurance – Commission and Expenses (MYR Billion), 2007–2011 ............................................................. 36
Figure 13: Malaysian Non-Life Insurance – Commission and Expenses (MYR Billion), 2011–2016 ............................................................. 37
Figure 14: Malaysian Non-Life Insurance – Combined Ratio (%), 2007–2011.............................................................................................. 38
Figure 15: Malaysian Non-Life Insurance – Combined Ratio (%), 2011–2016.............................................................................................. 39
Figure 16: Malaysian Non-Life Insurance – Frauds and Crimes (MYR Billion), 2007–2011 .......................................................................... 40
Figure 17: Malaysian Non-Life Insurance – Frauds and Crimes (MYR Billion), 2011–2016 .......................................................................... 41
Figure 18: Malaysian Non-Life Insurance – Total Assets (MYR Billion), 2007–2011 .................................................................................... 42
Figure 19: Malaysian Non-Life Insurance – Total Assets (MYR Billion), 2011–2016 .................................................................................... 43
Figure 20: Malaysian Non-Life Insurance – Total Investment Income (MYR Billion), 2007–2011 ................................................................. 44
Figure 21: Malaysian Non-Life Insurance – Total Investment Income (MYR Billion), 2011–2016 ................................................................. 45
Figure 22: Malaysian Non-Life Insurance – Retentions (MYR Billion), 2007–2011 ....................................................................................... 46
Figure 23: Malaysian Non-Life Insurance – Retentions (MYR Billion), 2011–2016 ....................................................................................... 47
Figure 24: Malaysian Non-Life Insurance – Investment Portfolio (MYR Billion), 2007–2011......................................................................... 48
Figure 25: Malaysian Non-Life Insurance – Investment Portfolio (% Share), 2007 and 2011 ....................................................................... 48
Figure 26: Malaysian Non-Life Insurance – Penetration (% of GDP), 2007–2011 ........................................................................................ 49
Figure 27: Malaysian Non-Life Insurance – Number of Policies Sold (Thousand), 2007–2011 ..................................................................... 50
Figure 28: Malaysian Non-Life Insurance – Number of Policies Sold (Thousand), 2011–2016 ..................................................................... 51
Figure 29: Malaysian Non-Life Insurance – Premium Per Capita (MYR), 2007–2011 .................................................................................. 52
Figure 30: Malaysian Property Insurance – Written Premium (MYR Billion) by Sub-Category, 2007–2016 .................................................. 55
Figure 31: Malaysian Property Insurance – Market Dynamics by Sub-Category, 2007–2016 ....................................................................... 55
Figure 32: Malaysian Property Insurance – Loss Ratio (%), 2007–2011 ...................................................................................................... 56
Figure 33: Malaysian Property Insurance – Loss Ratio (%), 2011–2016 ...................................................................................................... 57
Figure 34: Malaysian Fire and Allied Perils Insurance – Number of Policies Sold (Thousand), 2007–2011 .................................................. 58
Figure 35: Malaysian Fire and Allied Perils Insurance – Number of Policies Sold (Thousand), 2011–2016 .................................................. 59
Figure 36: Malaysian Fire and Allied Perils Insurance – Written Premium (MYR Billion), 2007–2011........................................................... 60
Figure 37: Malaysian Fire and Allied Perils Insurance – Written Premium (MYR Billion), 2011–2016........................................................... 61
Figure 38: Malaysian Engineering Insurance – Number of Policies Sold (Thousand), 2007–2011 ............................................................... 62
Figure 39: Malaysian Engineering Insurance – Number of Policies Sold (Thousand), 2011–2016 ............................................................... 63
Figure 40: Malaysian Engineering Insurance – Written Premium (MYR Billion), 2007–2011 ........................................................................ 64
Figure 41: Malaysian Engineering Insurance – Written Premium (MYR Billion), 2011–2016 ........................................................................ 65
Figure 42: Malaysian Other Property Insurance – Number of Policies Sold (Thousand), 2007–2011 ........................................................... 66
Figure 43: Malaysian Other Property Insurance – Number of Policies Sold (Thousand), 2011–2016 ........................................................... 67
Figure 44: Malaysian Other Property Insurance – Written Premium (MYR Billion), 2007–2011 .................................................................... 68
Figure 45: Malaysian Other Property Insurance – Written Premium (MYR Billion), 2011–2016 .................................................................... 69
Figure 46: Malaysian Motor Insurance – Written Premium by Sub-Category (MYR Billion), 2007–2016 ...................................................... 72
Figure 47: Malaysian Motor Insurance – Market Dynamics by Sub-Category, 2007–2016 ........................................................................... 72
Figure 48: Malaysian Motor Insurance – Loss Ratio (%), 2007–2011 .......................................................................................................... 73
Figure 49: Malaysian Motor Insurance – Loss Ratio (%), 2011–2016 .......................................................................................................... 74
Figure 50: Malaysian Motor Hull Insurance – Number of Policies Sold (Thousand), 2007–2011 .................................................................. 75
Figure 51: Malaysian Motor Hull Insurance – Number of Policies Sold (Thousand), 2011–2016 .................................................................. 76
Figure 52: Malaysian Motor Hull Insurance – Written Premium (MYR Billion), 2007–2011 ........................................................................... 77
Figure 53: Malaysian Motor Hull Insurance – Written Premium (MYR Billion), 2011–2016 ........................................................................... 78
Figure 54: Malaysian Motor Third-Party Insurance – Number of Policies Sold (Thousand), 2007–2011 ....................................................... 79
Figure 55: Malaysian Motor Third-Party Insurance – Number of Policies Sold (Thousand), 2011–2016 ....................................................... 80
Figure 56: Malaysian Motor Third-Party Insurance – Written Premium (MYR Billion), 2007–2011................................................................ 81
Figure 57: Malaysian Motor Third-Party Insurance – Written Premium (MYR Billion), 2011–2016................................................................ 82
Figure 58: Malaysian General Third-Party Insurance – Number of Policies Sold (Thousand), 2007–2011 ................................................... 83
Figure 59: Malaysian General Third-Party Insurance – Number of Policies Sold (Thousand), 2011–2016 ................................................... 84
Figure 60: Malaysian General Third-Party Insurance – Written Premium (MYR Billion), 2007–2011 ............................................................ 85
Figure 61: Malaysian General Third-Party Insurance – Written Premium (MYR Billion), 2011–2016 ............................................................ 86



Trends and Opportunities in the Malaysian Non-Life Insurance Industry to 2016: Market
                                                                                                                                                                             Page 3
Profile

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



Figure 62: Malaysian General Third-Party Insurance – Loss Ratio (%), 2007–2011..................................................................................... 87
Figure 63: Malaysian General Third-Party Insurance – Loss Ratio (%), 2011–2016..................................................................................... 88
Figure 64: Malaysian Marine, Aviation and Transit Insurance – Written Premium (MYR Billion) by Sub-Category, 2007–2016 .................... 91
Figure 65: Malaysian Marine, Aviation and Transit Insurance – Market Dynamics by Sub-Category, 2007–2016 ........................................ 91
Figure 66: Malaysian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2007–2011 .................................
				
DOCUMENT INFO
Description: This report is the result of extensive research into the non-life insurance segment in Malaysia, covering key trends, drivers and industry attractiveness. It provides insights into the market size and forecast for the non-life insurance segment and categories such as individual and group life insurance with details of the products in each market. This report also provides an analysis of the various distribution channels in the Malaysian non-life insurance industry.
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