Performance of the Life Insurance Industry in 2008

03.02.2009 · Posted in Insurance News

via LIAM

LIAMKuala Lumpur, 27 February 2009: Life Insurance Association of Malaysia (LIAM), in its statement today, said that it has not issued any public information regarding the ranking of life insurance companies in Malaysia. As such, LIAM has clarified that the few advertisements placed by a life insurance company recently which claimed that the Company has been ranked as the No. 1 Life Insurer in Malaysia (source from LIAM) is inaccurate and not endorsed by LIAM.

Based on preliminary data issued by LIAM for the entire life insurance business in Malaysia, individual traditional business (savings and protection plans) enjoyed a strong double-digit growth of 19.1% or RM2.50 billion in 2008. Group insurance has also chalked up a healthy 18% growth in a tough business environment.

The unfavourable investment environment and economic conditions had resulted in the slowdown in the sale of investment-linked products which recorded a decline of 32.6%.

  • http://lokeaiaberhad.blogspot.com/ LOKE

    I can’t wait to know the ranking of all life insurance companies in Malaysia…

  • http://lokeaiaberhad.blogspot.com LOKE

    I can’t wait to know the ranking of all life insurance companies in Malaysia…

  • http://integratedestateplanningmalaysia.blogspot.com/ Lee Khee Chuan

    I am just curious which insurance is doing this kind of “cheap” marketing tactic. Insurance companies should behave more credible and trustworthy in the eyes of Malaysian consumers

  • http://integratedestateplanningmalaysia.blogspot.com/ Lee Khee Chuan

    I am just curious which insurance is doing this kind of “cheap” marketing tactic. Insurance companies should behave more credible and trustworthy in the eyes of Malaysian consumers

  • http://www.insuranceonline.my/ The Underwriter

    The maxim of these irresponsible corporate marketing is about squeezing every potential opportunities available, even if it’s on the expense of the ill-informed consumers. Such deplorable acts should not be encouraged and surprisingly, Bank Negara has yet to step in to ‘regulate’ the offender.

    Khee Chuan, you might be able to find the answers here:
    http://www.actuaries.com.my/news/2009/02/has-prudential-overtaken-great-eastern.html

  • http://www.insuranceonline.my The Underwriter

    The maxim of these irresponsible corporate marketing is about squeezing every potential opportunities available, even if it’s on the expense of the ill-informed consumers. Such deplorable acts should not be encouraged and surprisingly, Bank Negara has yet to step in to ‘regulate’ the offender.

    Khee Chuan, you might be able to find the answers here:
    http://www.actuaries.com.my/news/2009/02/has-prudential-overtaken-great-eastern.html