馬來西亞保險行業(yè)市場前景及投資研究報告-培訓課件外文版2024.5友邦人保

INDUSTRIES

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MARKETSInsuranceindustryinMalaysiaCHAPTER

01OverviewGrossdomesticproduct(GDP)frominsuranceinMalaysiafrom2015to2022(inbillionMalaysianringgit)GDPfrominsuranceinMalaysia2015-2022353028.627.5425.324.122522.7720.7619.95201510518.6202015201620172018201920202021*2022**4Description:In2022,thegrossdomesticproduct(GDP)fromtheinsuranceindustryinMalaysiaamountedtoaround27.5billionMalaysianringgit,aslightdecreasecomparedtothepreviousyear.Ingeneral,theGDPcontributionfrominsuranceinthecountryhasbeenincreasingovertheyears.ReadmoreNote(s):Malaysia;2015to2022;*Estimate.**Preliminary.Valuesatcurrentprices.Valueshavebeenrounded.1RinggitMalaysia(RM)isequivalentto0.21U.S.dollarsand0.20eurosasofNovember2023.

ReadmoreSource(s):StatisticsMalaysiaShareofinsuranceindustrytothegrossdomesticproduct(GDP)inMalaysiafrom2015to2022ShareofinsurancetotheGDPinMalaysia2015-20222.0%1.8%1.8%1.8%1.6%1.6%1.6%1.6%1.6%1.4%1.2%1.0%0.8%0.6%0.4%0.2%0.0%1.5%1.5%2015201620172018201920202021*2022**5Description:In2022,theinsuranceindustryinMalaysiacontributed1.5percenttothegrossdomesticproduct(GDP),aslightdecreasecomparedtotheindustry'scontributioninthepreviousyear.Ingeneral,theshareofGDPfromtheinsurancesectorhasremainedsomewhatconstantovertheyears.ReadmoreNote(s):Malaysia;2015to2022;*Estimate.**Preliminary.Valuesatcurrentprices.ReadmoreSource(s):StatisticsMalaysiaNetFDIflowstoMalaysiainfinanceandinsurancefrom2013to2022(inbillionMalaysianringgit)NetFDIflowstoMalaysiainfinanceandinsurance2013-20221816141216.1412.339.51087.847.366.425.59642.742.622.592020132014201520162017201820192020202120226Description:In2022,thenetinflowsofforeigndirectinvestmentforfinanceandinsuranceinMalaysiaamountedtoapproximately12.3billionMalaysianringgit.Theforeigndirectinvestmentisatypeofinvestmentintheformofcontrollingownershipmadebyanindividualoracorporationinonecountryintoabusinesslocatedinanothercountry.ReadmoreNote(s):Malaysia;2013to2022Source(s):StatisticsMalaysiaNumberofpeopleemployedinthefinanceandinsuranceindustryinMalaysiafrom2015to2022(in1,000s)NumberofpeopleemployedinthefinanceandinsuranceindustryinMalaysia2015-2022400375376374375368362349351350300250200150100500201520162017201820192020*2021**2022**7/statistics/809738/annual-employment-in-the-finance-and-insurance-industry-malaysiaIn2022,around375thousandpeoplewereemployedinthefinanceandinsuranceindustryinMalaysia.Thisindicatesasteadyincreaseinthenumberofpeopleemployedinthisindustrysince2015,where349thousandpeoplewereemployed.

ReadmoreNote(s):Malaysia;2015to2022;*Estimated.**Preliminary.ReadmoreSource(s):StatisticsMalaysiaCHAPTER

02LifeinsuranceAnnualpremiumsoflifeinsurancecompaniesinMalaysiafrom2014to2022(inbillionMalaysianringgit)AnnualpremiumsoflifeinsurancecompaniesinMalaysia2014-202250454044.1542.6639.3436.9734.39353025201510532.4430.3928.2426.502014201520162017201820192020202120229Description:In2022,theannualpremiumoflifeinsurancecompaniesinMalaysiaamountedtoapproximately44.15billionMalaysianringgit,anincreasecomparedtothepreviousyear.Sincetheshareofthepopulationwithalifeinsuranceisstillrelativelylow,theinsuranceindustryinMalaysiastillhasahighgrowthpotential.ReadmoreNote(s):Malaysia;2014to2022Source(s):BankNegaraMalaysia;LIAMTotalpremiumsofnewlifeinsurancebusinessinMalaysiafrom2014to2022(inbillionMalaysianringgit)TotalpremiumsofnewlifeinsurancebusinessinMalaysia2014-20221412.7911.9811.761211.3910.310.129.751089.118.95642020142015201620172018201920202021202210Description:In2022,thetotalpremiumsofnewlifeinsurancebusinessinMalaysiaamountedtoapproximately11.98billionMalaysianringgit,adecreasefromaround12.79billionMalaysianringgitin2021.Sincetheshareofthepopulationwithalifeinsuranceisstillrelativelylow,theinsuranceindustryinMalaysiastillhasahighgrowthpotential.ReadmoreNote(s):Malaysia;2014to2022Source(s):BankNegaraMalaysia;LIAMNumberoflifeinsurancepoliciesinMalaysiafrom2014to2022,bytypeofbusiness(inmillion)NumberoflifeinsurancepoliciesMalaysia2014-2022,bytypeNewBusiness12.67TotalBusinessInForce12.67161413.3713.3812.8512.6612.5612.4612.4112108641.881.8421.371.361.41.331.241.321.22020142015201620172018201920202021202211Description:In2022,thetotalnumberofpoliciesfromnewinsurancebusinessissuedinMalaysiaamountedtoaround1.84millionunits,adecreasecomparedtothepreviousyear.Sincetheshareofthepopulationwithalifeinsuranceisstillrelativelylow,theinsuranceindustrystillhasahighgrowthpotential.ReadmoreNote(s):Malaysia;2014to2022Source(s):BankNegaraMalaysia;LIAMTotalsumsinsuredoflifeinsuranceinMalaysiafrom2014to2022,bytypeofbusiness(inbillionMalaysianringgit)TotalsumsinsuredoflifeinsuranceinMalaysia2014-2022,bytypeNewBusiness1,378.4TotalBusinessInForce2,0001,8001,6001,4001,2001,0008001,874.311,779.461,685.761,615.21,510.011,300.251,238.81,163.16600497.74470.28461.06452.1437.25398.87408.642017391.46353.940020002014201520162018201920202021202212Description:In2022,thetotalsumsinsuredofnewlifeinsurancebusinessinMalaysiaamountedtoaround497billionMalaysianringgit,anincreasecomparedtothepreviousyear.Sincetheshareofthepopulationwithalifeinsuranceisstillrelativelylow,theinsuranceindustryinMalaysiastillhasahighgrowthpotential.ReadmoreNote(s):MalaysiaSource(s):BankNegaraMalaysia;LIAMNumberofagentsatlifeinsurancecompaniesinMalaysiafrom2014to2022(in1,000people)NumberofagentsatlifeinsurancecompaniesinMalaysia2014-202210088.07908070605040302010085.4985.8585.3585.3882.0478.7275.717620142015201620172018201920202021202213Description:In2022,thetotalnumberofagentsatthelifeinsurancecompaniesinMalaysiaamountedtoaround85.85thousandpeople.Thejobofageneralinsuranceagentistoobtaininsurancebusinessfromcustomersorprospectsoftheinsurancecompany.TobeageneralinsuranceagentinMalaysia,candidateshavetopassthePre-ContractExaminationforInsuranceAgents(PCEIA),PartA&PartB.TheexaminationisconductedbyTheMalaysianInsuranceInstitute(MII).ReadmoreNote(s):Malaysia;2014to2022Source(s):BankNegaraMalaysia;LIAMCHAPTER

03Non-lifeinsuranceValueofearnedpremiumsinthegeneralinsurancemarketofMalaysiafrom2013to2022(inbillionMalaysianringgit)WrittenpremiumearningvaluebygeneralinsurancesinMalaysia2013-20221613.96141210813.413.3713.0413.1113.0812.8212.5511.9811.196420201320142015201620172018201920202021202215Description:In2022,thevalueofpremiumsearnedinthegeneralornon-lifeinsurancesectorinMalaysiaamountedtonearly14billionMalaysianringgit,anincreasefromaround13billionMalaysianringgitinthepreviousyear.Thevalueofearnedpremiumsofthegeneralinsuranceinthecountryhasincreasedbyapproximately2.7billionMalaysianringgitinthepastdecade.ReadmoreNote(s):Malaysia;2013to2022Source(s):GeneralInsuranceAssociationofMalaysiaValueofnetclaimsinthegeneralinsurancemarketofMalaysiafrom2013to2022(inmillionMalaysianringgit)NetclaimvalueofgeneralinsurancesinMalaysia2013-20229,0008,0007,7907,7787,5037,5037,0906,9926,9266,7897,0006,0005,0004,0003,0002,0001,00006,5416,340201320142015201620172018201920202021202216Description:In2022,thevalueofnetclaimsincurredinthenon-lifeorgeneralinsurancesectorinMalaysiaamountedtoapproximately7.5billionMalaysianringgit.Thisindicatedanincreasebyaround14.7percentfrom6.5billionMalaysianringgitinthepreviousyear.ReadmoreNote(s):Malaysia;2013to2022Source(s):InsuranceServicesMalaysiaNetclaimsincurredratioofgeneralinsuranceindustryinMalaysiafrom2014to2022IncurredclaimsratioofgeneralinsuranceinMalaysia2014to202270%58.1%58.2%60%50%40%30%20%10%0%57.5%56.7%56.5%54.5%53.7%52.8%50%20142015201620172018201920202021202217Description:In2022,theincurredclaimsratioofgeneralinsuranceinMalaysiawasat53.7percent,anincreaseby3.7percentcomparedtothepreviousyear.Thenetclaimsincurredratioofgeneralinsuranceinthecountryhasbeensomewhatsteadyovertheyearsataround50percent.ReadmoreNote(s):Malaysia;2014to2022Source(s):InsuranceServicesMalaysiaNetearnedpremiumsofgeneralinsuranceinMalaysiafrom2022,bylineofbusiness(inbillionMalaysianringgit)NetearnedpremiumsinMalaysia2022,bylineofbusinessNetearnedpremiumsinbillionMalaysianringgit0123456789MotorFire8.162.1PersonalaccidentMiscellaneous*1.21.18MedicalandhealthMarine,aviation,andtransit0.90.4218Description:In2022,themotorinsurancesectorofthegeneralinsuranceindustryinMalaysiarecordedaround8.16billionMalaysianringgitinnetearnedpremiums,thehighestamongalltypesofinsurances.Thesecondhighestnetearnedpremiumsinthesameyearwasfireinsurace,with2.1billionMalaysianringgit.ReadmoreNote(s):Malaysia;2022;*MiscellaneousincludesBonds,Contractor'sAllRisks&Engineering,Liabilities,Others,Workmen'sCompensation&Employers'Liability.1Malaysianringgitisequalto0.21U.S.dollarsand0.20eurosasofOctober2023.[...]

ReadmoreSource(s):InsuranceServicesMalaysiaCHAPTER

04HealthandaccidentinsuranceValueofnetpremiumsofmedicalandhealthinsuranceinMalaysiafrom2013to2022(inmillionMalaysianringgit)NetpremiumsofmedicalandhealthinsuranceinMalaysia2013-20221,2001,051.23978.541,0008006004002000941.65921917926.04916.76903.64837798201320142015201620172018201920202021202220Description:In2022,thevalueofnetpremiumsofmedicalandhealthinsuranceinMalaysiawasatapproximately916.76millionMalaysianringgit,anincreasefromaround903.64millionMalaysianringgitinthepreviousyear.AlthoughMalaysiahasapublichealthcaresystem,manyMalaysianschosetohaveadditionalhealthinsurancetoaccessbetterhealthcareservice.ReadmoreNote(s):Malaysia;2013to2022Source(s):InsuranceServicesMalaysiaValueofgrosspremiumswrittenbymedicalinsurancecompaniesinMalaysiafrom2012to2021(inmillionMalaysianringgit)GrosswrittenpremiumvaluebymedicalinsurancesinMalaysia2012-20211,4001,157.11,2001,00080060040020001,100.41,0271,017.21,006.31,000.7963.3968.4920875.7201220132014201520162017201820192020202121Description:In2021,thevalueofgrosswrittenpremiumsinthemedicalinsurancesectorofMalaysiaamountedtoapproximately968.4millionMalaysianringgit,indicatingaslightdecreasefromaroundonebillionMalaysianringgitinthepreviousyear.Inthatyear,themotorinsurancesectorcontinuedtodominatethegeneralinsurancemarket.ReadmoreNote(s):Malaysia;2012to2021Source(s):GeneralInsuranceAssociationofMalaysiaClaimratioofmedicalandhealthinsurancesinMalaysiafrom2013to2022ClaimratioofmedicalandhealthinsurancesinMalaysia2013-202280%73.2%71.1%70.5%70%60%50%40%30%20%10%0%67.1%61.3%57.4%56.9%54%53.9%50.6%201320142015201620172018201920202021202222Description:TheclaimratioofthemedicalandhealthinsurancesectorinMalaysiain2022wasat61.3percent,anincreasefrom53.9percentinthepreviousyear.TheNetClaimsIncurredRatio(NCIR)ofmedicalandhealthinthecountrywasatitshighestin2018,with73.2percent.ReadmoreNote(s):Malaysia;2013to2022Source(s):GeneralInsuranceAssociationofMalaysia;InsuranceServicesMalaysiaValueofnetpremiumsofpersonalaccidentinsuranceinMalaysiafrom2013to2022(inmillionMalaysianringgit)NetpremiumsofpersonalaccidentinsuranceinMalaysia2013-20221,4001,2001,280.081,1141,0891,0811,0531,037.351,021.4966.451,0008006004002000887.1862.41201320142015201620172018201920202021202223Description:In2022,thevalueofnetpremiumsofpersonalaccidentinsuranceinMalaysiaamountedtoaround1.28billionMalaysianringgit,asignificantincreasefromaround887millionMalaysianringgitinthepreviousyear.Thenetpremiumsofpersonalaccidentinsuranceinthecountryhasbeenfluctuatingoverthepastdecade.ReadmoreNote(s):Malaysia;2013to2022Source(s):InsuranceServicesMalaysiaNetclaimratioofpersonalaccident(P.A.)insuranceinMalaysiafrom2013to2022ClaimratioofP.A.insurancesinMalaysia2013-202240%35.9%35%33.3%31.7%29.4%28.8%30%25%20%15%10%5%27.6%26.5%25.9%24.9%21.7%0%201320142015201620172018201920202021202224Description:Thenetclaimratioofthepersonalaccident(P.A.)insurancesectorinMalaysiain2022wasat24.9percent,anincreasefrom21.7percentinthepreviousyear.TheclaimratioofpersonalaccidentintheinsuranceindustryinMalaysiawasatitshighestin2018,with35.9percent.ReadmoreNote(s):Malaysia;2013to2022Source(s):GeneralInsuranceAssociationofMalaysia;InsuranceServicesMalaysiaCHAPTER

05MotorinsuranceValueofnetpremiumsofmotorinsuranceinMalaysiafrom2013to2022(inbillionMalaysianringgit)NetpremiumsofmotorinsuranceinMalaysia2013-2022988.497.917.837.847.87.717.517.517.36.8676543210201320142015201620172018201920202021202226Description:In2022,thevalueofnetpremiumsofmotorinsuranceinMalaysiawasatapproximately8.5billionMalaysianringgit,anincreasefrom7.8billionMalaysianringgitinthepreviousyear.Thevalueofnetpremiumsformotorinsuranceinthecountryhasbeengraduallyincreasingeveryyear.ReadmoreNote(s):Malaysia;2013to2022Source(s):InsuranceServicesMalaysiaGrosswrittenpremiumvalueofmotorinsurancecompaniesinMalaysiafrom2012to2021(inmillionMalaysianringgit)GrosswrittenpremiumvalueofmotorinsuranceinMalaysia2012-20219,0008,473.28,435.78,411.98,322.38,240.38,165.28,0987,932.88,0007,0006,0005,0004,0003,0002,0001,00007,524.26,978.3201220132014201520162017201820192020202127Description:In2021,thevalueofgrosswrittenpremiumsformotorinsuranceinMalaysiaamountedtoapproximately8.2billionMalaysianringgit,adecreasecomparedtoapproximately8.4billionMalaysianringgitinthepreviousyear.Inthatyear,themotorinsurancesectorcontinuedtodominatethegeneralinsurancemarket.ReadmoreNote(s):Malaysia;2012to2021Source(s):GeneralInsuranceAssociationofMalaysiaClaimratioofmotorinsurancecompaniesinMalaysiafrom2013to2022ClaimratioofmotorinsurancesinMalaysia2013-202280%72.7%72%71.5%70.4%70.4%70.1%70%60%50%40%30%20%10%0%66.9%65.3%62.5%55.6%201320142015201620172018201920202021202228/statistics/1016320/malaysia-motor-insurance-claim-ratioTheclaimratioofthemotorinsurancesectorinMalaysiaincreasedfrom55.6percentin2021to65.3percentin2022.TheNetClaimsIncurredRatio(NCIR)oftheoverallmotorinsurancesectorinthecountryhasbeenfluctuatingoverthepastdecade.ReadmoreNote(s):Malaysia;2013to2022Source(s):GeneralInsuranceAssociationofMalaysia;InsuranceServicesMalaysiaCHAPTER

06TakafulGrosswrittencontributionsoftakafulinMalaysiafrom2014to2022(inbillionMalaysianringgit)GrosswrittencontributionsoftakafulinMalaysia2014to20225.04.54.03.54.643.833.463.313.02.792.562.412.52.01.51.00.50.02.32.1720142015201620172018201920202021202230Description:In2022,thegrosswrittencontributionsoftakafulinMalaysiaamountedtoaround4.64billionMalaysianringgit,anincreasefromaround3.83billionMalaysianringgitinthepreviousyear.TakafulisanIslamicinsurancebasedonsharialaw,andmemberscontributemoneyintoapoolsystemtoinsureagainstlossordamage.ReadmoreNote(s):Malaysia;2014to2022Source(s):InsuranceServicesMalaysiaNetearnedcontributionsoftakafulinMalaysiafrom2014to2022(inbillionMalaysianringgit)NetearnedcontributionsoftakafulinMalaysia2014to20224.03.53.02.52.03.352.822.682.572.121.861.781.671.471.51.00.50.020142015201620172018201920202021202231Description:In2022,thenetearnedcontributionsoftakafulinMalaysiaamountedtoaround3.35billionMalaysianringgit,anincreasefromaround2.82billionMalaysianringgitinthepreviousyear.TakafulisanIslamicinsurancebasedonsharialaw,andmemberscontributemoneyintoapoolsystemtoinsureagainstlossordamage.ReadmoreNote(s):Malaysia;2014to2022Source(s):InsuranceServicesMalaysiaNetclaimsincurredratiooftakafulinMalaysiafrom2014to2022IncurredclaimsratiooftakafulinMalaysia2014to202270%60.7%58.1%60%50%40%30%20%10%0%56.1%55.7%51.9%51.1%51.3%49%47.9%20142015201620172018201920202021202232Description:In2022,theincurredclaimsratiooftakafulinMalaysiawasat60.7percent.Thiswasanincreasefrom51.3percentofnetclaimsincurredratiointhepreviousyear.TakafulisanIslamicinsurancebasedonsharialaw,andmemberscontributemoneyintoapoolsystemtoinsureagainstlossordamage.ReadmoreNote(s):Malaysia;2014to2022Source(s):InsuranceServicesMalaysiaOperatingprofitoftakafulinMalaysiafrom2014to2022(inmillionMalaysianringgit)OperatingprofitoftakafulinMalaysia2014to2022900800700600831.94500437.02423.8379.84003002001000316312.21291.142017201.622019101.09202220142015201620182020202133Description:In2022,takafulinMalaysiarecordedanoperatingprofitofapproximately101millionMalaysianringgit,adecreasefromaround423millionMalaysianringgitinthepreviousyear.Theoperatingprofitoftakafulwasatitshighestin2018,atnearly832millionMalaysianringgit.TakafulisanIslamicinsurancebasedonsharialaw,andmemberscontributemoneyintoapoolsystemtoinsureagainstlossordamage.ReadmoreNote(s):Malaysia;2014to2022Source(s):InsuranceServicesMalaysiaCHAPTER

07LeadingcompaniesGrosswrittenpremiumvalueofAllianzMalaysiaBerhadfrom2017to2022(inbillionMalaysianringgit)GrosswrittenpremiumofAllianzMalaysiaBhd2017-2022766.025.695.314.925432104.54.2920172018201920202021202235Description:In2022,thetotalvalueofgrosswrittenpremiumofAllianzMalaysiaBerhadamountedtoaroundsixbillionMalaysianringgit,anincreasefromaround5.69billionMalaysianringgitinthepreviousyear.ThegrosswrittenpremiumofAllianzinMalaysiahasbeensteadilyincreasingsince2017.ReadmoreNote(s):Malaysia;2017to2022Source(s):AllianzMalaysiaBerhadGrossearnedpremiumsofMaybankAgeasHoldingsBerhadfrom2017to2022(inbillionMalaysianringgit)GrossearnedpremiumsofMaybankAgeasHoldingsBhd2017-20221210810.7110.7610.277.466.645.97642020172018201920202021202236Description:In2022thevalueofgrossearnedpremiumsofMaybankAgeasHoldingBerhadamountedtoaround10.27billionMalaysianringgit,aslightdecreasecomparedto10.76billionMalaysianringgitinthepreviousyear.MaybankAgeasHoldingsBerhadistheparentcompanyofEtiqainsuranceandtakafulinMalaysia.ReadmoreNote(s):Malaysia;2017to2022Source(s):MaybankAgeasHoldingsBhdGrossearnedpremiumsofGreatEasternLifeAssuranceMalaysiaBerhadfrom2017to2022(inbillionMalaysianringgit)GrossearnedpremiumsofGreatEasternLifeMalaysia2017-202212109.829.679.38.738.087.628642020172018201920202021202237Description:In2022,GreatEasternLifeAssuranceMalaysiaBerhad,asubsidiaryofGreatEasternLifeAssuranceCo.Ltd,recordedgrossearnedpremiumsofapproximately9.82billionMalaysianringgit,anincreasecomparedtothepreviousyear.GreatEasternLifeMalaysiaisoneofthelargestinsurancecompaniesinthecountry.ReadmoreNote(s):Malaysia;2017to2022Source(s):GreatEasternLifeGrossearnedpremiumsofPrudentialAssuranceMalaysiaBerhadfrom2017to2022(inbillionMalaysianringgit)GrossearnedpremiumsofPrudentialMalaysia2017-202298.227.967.758765432107.587.086.520172018201920202021202238Description:In2022,PrudentialAssuranceMalaysiaBerhad,aMalaysiansubsidiaryofPrudentialplc,recordedgrossearnedpremiumsofaround8.22billionMalaysianringgit.Thiswasanincreasefromaround7.96billionMalaysianringgitinthepreviousyear.PrudentialMalaysiaisoneoftheleadinginsurancecompaniesinthecountry.ReadmoreNote(s):Malaysia;2017to2022Source(s):PrudentialMalaysiaCHAPTER

08ConsumerperspectivePreferenceinpurchasinginsurancepolicyamongrespondentsinMalaysiaasofOctober2023PreferenceinbuyinginsurancepolicyinMalaysia202380%70%60%50%40%30%20%10%0%67%33%Offline,viaanagentOnline40Description:AccordingtoasurveyonfinancialliteracyconductedinMalaysia,asofOctober2023,67percentoftherespondentsorthemajoritysaidtheywouldprefertopurchaseinsurancepolicyofflinefromanagent.Meanwhile,another33percentsaidtheywouldpurchaseitonli