Malaysia Life Insurance Newsletter, February 2017

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By Farzana Ismail, Richard W. Holloway | 21 February 2017
According to the Life Insurance Association Malaysia, the life insurance industry continued to achieve strong growth in the first three quarters of 2016, with 18.3% growth in new business weighted premium or annalised premium equivalent compared with the same period the previous year. Investment-linked business continues to dominate with a market share of 52.9% in terms of new business annualised premium income (APE) while the remaining 45.1% is made up of traditional life insurance business. Traditional business grew by 27% in terms of new business APE. The family takaful industry grew by 9.8% in the first half of 2016 compared with 8.2% in conventional life insurance.