Industry Dynamics and Competitive Landscape in the Malaysian Personal Accident and Health Insurance Industry to 2016: Market Profile by Timetric

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									Industry Dynamics and
Competitive Landscape in the
Malaysian Personal Accident and
Health Insurance Industry to
2016: Market Profile
Market Profile

Reference code: IN1101MP

Published: October 2012

www.timetric.com




Timetric

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Tel: +44 (0)20 7936 6400

Fax: +44 (0)20 7336 6813




                           www.timetric.com
 TABLE OF CONTENTS



TABLE OF CONTENTS

1      Introduction ..................................................................................................................... 8
    1.1 What is this Report About? ........................................................................................................ 8
    1.2 Definitions ................................................................................................................................. 8
    1.3 Methodology ........................................................................................................................... 10
2      Malaysian Insurance Industry Attractiveness............................................................. 12
    2.1 Insurance Industry Market Size, 2007–2016 ........................................................................... 14
    2.2 Key Industry Trends and Drivers ............................................................................................. 18
        2.2.1     Business drivers ............................................................................................................................... 18
        2.2.2     Consumer drivers ............................................................................................................................. 19
    2.3 Recent Market Developments ................................................................................................. 20
3 Regulatory Policies ....................................................................................................... 21
4 Porter’s Five Forces Analysis – Malaysian Personal Accident and Health Insurance
Market ................................................................................................................................... 22
    4.1 Bargaining Power of Supplier: Low.......................................................................................... 22
    4.2 Bargaining Power of Buyer: low to medium ............................................................................. 23
    4.3 Barriers to Entry: Low .............................................................................................................. 23
    4.4 Intensity of Rivalry: Medium to High ........................................................................................ 23
    4.5 Threat of Substitutes: Low ....................................................................................................... 23
5      Competitive Landscape and Strategic Insights .......................................................... 24
    5.1 Overview ................................................................................................................................. 24
    5.2 Leading Companies in the Malaysian Personal Accident and Health Insurance Segment ....... 24
    5.3 Comparison of Top-Five Insurers ............................................................................................ 26
        5.3.1     Gross written premium ...................................................................................................................... 26
        5.3.2     Outwards reinsurance expense ........................................................................................................ 27
        5.3.3     Net earned premiums ....................................................................................................................... 28
        5.3.4     Gross claims ..................................................................................................................................... 29
        5.3.5     Paid claims ....................................................................................................................................... 30
    5.4 American International Assurance Bhd. – Company Overview ................................................ 31
        5.4.1     American International Assurance Bhd – key facts .......................................................................... 31
        5.4.2     American International Assurance Bhd – key financials .................................................................. 31
    5.5 MSIG Malaysia – Company Overview ..................................................................................... 32
        5.5.1     MSIG Malaysia – key facts ............................................................................................................... 32
        5.5.2     MSIG Malaysia – key financials ........................................................................................................ 32
    5.6 ACE Group – Company Overview ........................................................................................... 33
        5.6.1     ACE Group – key facts ..................................................................................................................... 33
        5.6.2     ACE Group – key financials .............................................................................................................. 33
    5.7 Hong Leong Assurance Berhad – Company Overview ............................................................ 34
        5.7.1     Hong Leong Assurance Berhad – key facts ..................................................................................... 34


Industry Dynamics and Competitive Landscape in the Malaysian Personal Accident and
                                                                                                                                                                       Page 2
Health Insurance Industry to 2016: Market Profile

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



       5.7.2      Hong Leong Assurance Berhad – key financials .............................................................................. 34
    5.8 Berjaya Sompo Insurance Berhad – Company Overview ........................................................ 35
       5.8.1      Berjaya Sompo Insurance Berhad – key facts ................................................................................. 35
       5.8.2      Berjaya Sompo Insurance Berhad – key financials .......................................................................... 35
    5.9 Multi-Purpose Insurans Bhd – Company Overview ................................................................. 36
       5.9.1      Multi-Purpose Insurans Bhd – key facts ........................................................................................... 36
       5.9.2      Multi-Purpose Insurans Bhd – key financials.................................................................................... 36
    5.10 Zurich Insurance Malaysia – Company Overview .................................................................... 37
       5.10.1 Zurich Insurance Malaysia – key facts ............................................................................................. 37
       5.10.2 Zurich Insurance Malaysia – key financials ...................................................................................... 37
6      Business Environment and Country Risk ................................................................... 38
    6.1 Business Confidence .............................................................................................................. 38
       6.1.1      Business confidence indicator .......................................................................................................... 38
       6.1.2      Market capitalization trend – the Bursa Malaysia stock exchange, Malaysia .................................. 39
    6.2 Economic Performance ........................................................................................................... 40
       6.2.1      GDP at constant prices (US dollars) ................................................................................................. 40
       6.2.2      GDP per capita at constant prices (US dollars) ................................................................................ 41
       6.2.3      GDP at current prices (US dollars) ................................................................................................... 42
       6.2.4      GDP per capita at current prices (US dollars) .................................................................................. 43
       6.2.5      GDP by key segments ...................................................................................................................... 44
       6.2.6      Agriculture net output at current prices (Malaysian Ringgit) ............................................................. 45
       6.2.7      Agriculture net output at current prices (US dollars) ........................................................................ 46
       6.2.8      Agriculture net output at current prices as a percentage of GDP ..................................................... 47
       6.2.9      Manufacturing net output at current prices (Malaysian Ringgit) ....................................................... 48
       6.2.10 Manufacturing net output at current prices (US dollars) ................................................................... 49
       6.2.11 Manufacturing net output at current prices as a percentage of GDP ............................................... 50
       6.2.12 Mining, manufacturing and utilities net output at current prices (Malaysian Ringgit) ....................... 51
       6.2.13 Mining, manufacturing and utilities at current prices (US dollars) .................................................... 52
       6.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP .................................. 53
       6.2.15 Construction net output at current prices (Malaysian Ringgit) .......................................................... 54
       6.2.16 Construction net output at current prices, (US dollars) .................................................................... 55
       6.2.17 Construction net output at current prices as a percentage of GDP .................................................. 56
       6.2.18 Inflation rate ...................................................................................................................................... 57
       6.2.19 Current account balance as a percentage of GDP ........................................................................... 58
       6.2.20 Exports as a percentage of GDP ...................................................................................................... 59
       6.2.21 Imports as a percentage of GDP ...................................................................................................... 60
       6.2.22 Exports growth .................................................................................................................................. 61
       6.2.23 Imports growth .................................................................................................................................. 62
       6.2.24 External debt as a percentage of GDP ............................................................................................. 63
       6.2.25 Annual average exchange rate US$–MYR....................................................................................... 64
       6.2.26 End-of-period exchange rate US$–MYR .......................................................................................... 65



Industry Dynamics and Competitive Landscape in the Malaysian Personal Accident and
                                                                                                                                                                     Page 3
Health Insurance Industry to 2016: Market Profile

								
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