Malaysia - USD 352 billion life insurance sum assured
Friday, 02 16 2018, Category: Insurance and Reinsurance, Country: Malaysia
Future growth for the life insurance sector remains promising as the percentage of Malaysians with life insurance or takaful plans is still low at 54%, said Life Insurance Association of Malaysia president Toi See Jong.
The sum assured of the life insurance industry in Malaysia amounted to RM1.38 tril (USD 352 billion) in 2017, a 6% increase from the previous year.
According to LIAM, 12.6 million life insurance policies were issued in 2017, which was slightly higher than in 2016.
Source: The Star – Malaysia