Malaysia Life Insurance Newsletter, 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.