Summary
Life Insurance in Malaysia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Malaysian life insurance market had total gross written premiums of $16.0 billion in 2022, representing a compounded annual growth rate (CAGR) of 8.3% between 2017 and 2022.
- The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $14.8 billion, equivalent to 92.8% of the market's overall value.
- The Malaysian life insurance market has experienced incredibly strong growth in the historic period with a CAGR of 8.3% from 2017 to 2022. More specifically, the interest rates of the Malaysian central bank of Malaysia have raised the interest rates by 2%, and in 2022 the interest rates were raised by 2.50%. The performance of the market is forecast to accelerate, with an anticipated CAGR of 9.4% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $24.9billion by the end of 2027.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Malaysia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Malaysia
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Malaysia life insurance market with five year forecasts
Reasons to Buy
- What was the size of the Malaysia life insurance market by value in 2022?
- What will be the size of the Malaysia life insurance market in 2027?
- What factors are affecting the strength of competition in the Malaysia life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Malaysia's life insurance market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?
8 Company Profiles
8.1. AIA Bhd
8.2. Allianz Life Insurance Malaysia Bhd
8.3. Great Eastern Life Assurance (Malaysia) Berhad
8.4. Prudential Assurance Malaysia Berhad
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Malaysia life insurance market value: $ billion, 2017-22(e)
Table 2: Malaysia life insurance market category segmentation: % share, by value, 2017–2022(e)
Table 3: Malaysia life insurance market category segmentation: $ billion, 2017-2022
Table 4: Malaysia life insurance market geography segmentation: $ billion, 2022(e)
Table 5: Malaysia life insurance market value forecast: $ billion, 2022-27
Table 6: Malaysia life insurance market share: % share, by value, 2022(e)
Table 7: AIA Bhd: key facts
Table 8: AIA Bhd: Key Employees
Table 9: Allianz Life Insurance Malaysia Bhd: key facts
Table 10: Allianz Life Insurance Malaysia Bhd: Key Employees
Table 11: Great Eastern Life Assurance (Malaysia) Berhad: key facts
Table 12: Great Eastern Life Assurance (Malaysia) Berhad: Key Employees
Table 13: Prudential Assurance Malaysia Berhad: key facts
Table 14: Prudential Assurance Malaysia Berhad: Key Employees
Table 15: Malaysia size of population (million), 2018–22
Table 16: Malaysia gdp (constant 2005 prices, $ billion), 2018–22
Table 17: Malaysia gdp (current prices, $ billion), 2018–22
Table 18: Malaysia inflation, 2018–22
Table 19: Malaysia consumer price index (absolute), 2018–22
Table 20: Malaysia exchange rate, 2016–20
List of Figures
Figure 1: Malaysia life insurance market value: $ billion, 2017-22(e)
Figure 2: Malaysia life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Malaysia life insurance market geography segmentation: % share, by value, 2022(e)
Figure 4: Malaysia life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in Malaysia, 2022
Figure 6: Drivers of buyer power in the life insurance market in Malaysia, 2022
Figure 7: Drivers of supplier power in the life insurance market in Malaysia, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Malaysia, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Malaysia, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in Malaysia, 2022
Figure 11: Malaysia life insurance market share: % share, by value, 2022(e)
