The document provides an overview of Malaysia's financial system and general insurance industry. It discusses the key regulatory bodies that oversee the financial system and categories financial institutions. It then summarizes the different segments of Malaysia's general insurance market, including motor, marine/aviation/transit (MAT), fire, medical/personal accident, and others. The motor segment is the largest, followed by fire. The document forecasts continued growth across all segments through 2018, especially in medical/personal accident, driven by factors like increasing travel and regulatory requirements for foreign worker insurance.
Credit insurance is becoming increasingly important. Having the right payment terms with your customers is critical to your competitiveness and being able to grow your organisation with confidence. Ensuring that those terms of business are adhered to is not always in your control.
Without protection that your invoices will be paid, your business decisions are based on faith and past experience alone, which may not be the best grounds for ensuring business profitability.
According to the recent Atradius survey results for B2B payment practices, over 40% of invoices remain unpaid past due date.
This is where credit insurance and robust credit management policies can help. Credit insurance is as much about protection against bad debt as a facilitator for growth and maximising your profitability.
This short guide aims to help you understand how credit insurance can support your business, assess whether you really need it and give insight into why it is of growing importance.
Directors and officers liability insurance policiesOptimuminsurance
(http://optimuminsurance.com.au/ProductsServices/ProfessionalRisksInsurance/DirectorsOfficersLiabilityInsurance.aspx) - Directors and Officers Liability Insurance provides protection for the personal assets of directors and officers by providing indemnity for loss arising from a claim as a result of a 'wrongful act' committed by them in the course of conducting their business.
Credit insurance is becoming increasingly important. Having the right payment terms with your customers is critical to your competitiveness and being able to grow your organisation with confidence. Ensuring that those terms of business are adhered to is not always in your control.
Without protection that your invoices will be paid, your business decisions are based on faith and past experience alone, which may not be the best grounds for ensuring business profitability.
According to the recent Atradius survey results for B2B payment practices, over 40% of invoices remain unpaid past due date.
This is where credit insurance and robust credit management policies can help. Credit insurance is as much about protection against bad debt as a facilitator for growth and maximising your profitability.
This short guide aims to help you understand how credit insurance can support your business, assess whether you really need it and give insight into why it is of growing importance.
Directors and officers liability insurance policiesOptimuminsurance
(http://optimuminsurance.com.au/ProductsServices/ProfessionalRisksInsurance/DirectorsOfficersLiabilityInsurance.aspx) - Directors and Officers Liability Insurance provides protection for the personal assets of directors and officers by providing indemnity for loss arising from a claim as a result of a 'wrongful act' committed by them in the course of conducting their business.
General Insurance is defined as any insurance which is not determined as life insurance. There are various types of general insurance. Know about them here.
Watch full video on youtube to explore more, Click on the link below -
https://youtu.be/rgkS-7iUnzA
Insurance - method of transferring the risk of financial losses from one entity to another in exchange of premium.
Insurer - company selling the insurance
Insured - person/ entity whose risk is covered through insurance
Premium - charge for a certain amount of coverage
Policy - written contract or certificate of insurance
Risk - uncertainty of future or deviation from expected outcome resulting into losses
Peril - cause of a risk and losses, e.g. natural disasters
Hazard - condition that increases the frequency or severity of loss, e.g. open electric wires
Principles of Insurance guides out the norms to be followed for existence of contract between the insurer and insured, in absence of which the insurance contract could be void.
Principle of Indemnity
Principle of Insurable Interest
Principle of Utmost good faith
Principle of Contribution
Principle of Subrogation
Principle of Average
Principle of Proximate cause
Principle of Indemnity – It states that the insurer will compensate only the loss amount and not provide any sort of profit. It ensures to provide guaranteed coverage that would be enough to put the insured back to the financial position prior to loss.
Principle of Insurable Interest – It states that the insured must hold significant interest in the subject matter of insurance i.e. should be the owner. It should be evidenced that the insured is interested in preservation of thing, life or health insured and would suffer loss in case of damage.
Principle of Utmost good faith – According to this principle, both the parties to the insurance contract must disclose all fact material to the risk, voluntarily to each other.
Principle of Contribution – This principle is implemented when multiple insurance policies are covering the same property then in case of loss, coverage is provided proportionally by all insurance companies.
5. Principle of Average – This principle is applicable in case of under-insurance where the payout against a claim will be in same proportion as the value of under-insurance. Also, known as proportionate settlement.
6. Principle of Subrogation - As per this principle after the insured is compensated for the loss due to damage to property insured , then the right of ownership of
such property passes on to the insurer.
7. Principle of Proximate cause – In a series of event where loss has incurred due to more than one cause in succession, the proximate/nearest cause is identified and if that cause is insured against insurance co. is bound to pay and vice-versa.
Types of Insurance
Life Insurance
General Insurance - Fire Insurance, Motor Insurance, Health Insurance, Marine Insurance.
Thank you for Watching
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Indemnify your corporate against losses sustained resulting dishonesty or fraud committed by an employee during the course of employment. Get Fidelity Guarantee Insurance today. Click https://squareinsurance.in/contact
This presentation highlights about Motor Insurance, Types
Basis of Sum Insured, Dos and Don'ts for Motor Insurance and
General Advice for Motor Insurance
Insurance claim process (Step by Step)MayaFontenot
Don't struggle to get the best insurance agent in your locality, visit https://insurance.agencyheight.com/ and have the liberty to choose between multiple insurance agents.
Check the next link to discover more about Insurance Claim Process, you must check out: https://www.agencyheight.com/insurance-claim-process/
The PPT is showing Insurance Claim Process information but also try to cover the following subject:
-auto insurance claim
-insurance claim
-how insurance claims work
The rate of your premium might increase if you file multiple claims. In some cases, your insurance carrier might even decide to deny you coverage if you have a high rate of insurance claims.
Watch full video on link given below-
https://youtu.be/jPZpvgUSL2Q
Motor Vehicle Insurance is the insurance coverage of risk arising out of the use of motor vehicle such as car, truck or other vehicles causing damage and loss to oneself as well as other’s property in an accident.
Motor Insurance is mandatory as per the Motor Vehicles Act passed in the year 1938 and subsequently amended.
Motor Insurance provides coverage related to property damage, bodily injury, medical expenses and any other sort of compensation in legal proceedings.
It is also referred as Auto Insurance, Vehicle Insurance and Car Insurance.
Types of Motor Insurance are -
Private Car Insurance
Commercial Vehicle Insurance
Defense Vehicle Insurance
Two Wheeler Insurance
Motor Vehicle Insurance generally comprises of following two components –
Third party liability coverage is the part of insurance policy which protects you in case you are sued or asked compensation for any physical injury or damage to someone else’s property by your vehicle accidently.
Third party liability could be of following nature – Bodily injury liability and Property damage liability.
Factors affecting premium of Insurance Policy-
Type of vehicle
Physical condition of driver
Geographical area of use
Age of vehicle
Losses Covered under Motor Insurance -
Loss or damage by accident, fire, lightning, theft, malicious act, natural disaster
Third party liability in form of injury ,death and damage to property
Medical Expenses
Exclusions under Motor Insurance-
Normal wear and tear
Damage when person was driving without license
Damage when person was driving in influence of alcohol
Damage due to a war
Thank you for Watching
Subscribe to DevTech Finance
General Insurance is defined as any insurance which is not determined as life insurance. There are various types of general insurance. Know about them here.
Watch full video on youtube to explore more, Click on the link below -
https://youtu.be/rgkS-7iUnzA
Insurance - method of transferring the risk of financial losses from one entity to another in exchange of premium.
Insurer - company selling the insurance
Insured - person/ entity whose risk is covered through insurance
Premium - charge for a certain amount of coverage
Policy - written contract or certificate of insurance
Risk - uncertainty of future or deviation from expected outcome resulting into losses
Peril - cause of a risk and losses, e.g. natural disasters
Hazard - condition that increases the frequency or severity of loss, e.g. open electric wires
Principles of Insurance guides out the norms to be followed for existence of contract between the insurer and insured, in absence of which the insurance contract could be void.
Principle of Indemnity
Principle of Insurable Interest
Principle of Utmost good faith
Principle of Contribution
Principle of Subrogation
Principle of Average
Principle of Proximate cause
Principle of Indemnity – It states that the insurer will compensate only the loss amount and not provide any sort of profit. It ensures to provide guaranteed coverage that would be enough to put the insured back to the financial position prior to loss.
Principle of Insurable Interest – It states that the insured must hold significant interest in the subject matter of insurance i.e. should be the owner. It should be evidenced that the insured is interested in preservation of thing, life or health insured and would suffer loss in case of damage.
Principle of Utmost good faith – According to this principle, both the parties to the insurance contract must disclose all fact material to the risk, voluntarily to each other.
Principle of Contribution – This principle is implemented when multiple insurance policies are covering the same property then in case of loss, coverage is provided proportionally by all insurance companies.
5. Principle of Average – This principle is applicable in case of under-insurance where the payout against a claim will be in same proportion as the value of under-insurance. Also, known as proportionate settlement.
6. Principle of Subrogation - As per this principle after the insured is compensated for the loss due to damage to property insured , then the right of ownership of
such property passes on to the insurer.
7. Principle of Proximate cause – In a series of event where loss has incurred due to more than one cause in succession, the proximate/nearest cause is identified and if that cause is insured against insurance co. is bound to pay and vice-versa.
Types of Insurance
Life Insurance
General Insurance - Fire Insurance, Motor Insurance, Health Insurance, Marine Insurance.
Thank you for Watching
Subscribe to DevTech Finance
Indemnify your corporate against losses sustained resulting dishonesty or fraud committed by an employee during the course of employment. Get Fidelity Guarantee Insurance today. Click https://squareinsurance.in/contact
This presentation highlights about Motor Insurance, Types
Basis of Sum Insured, Dos and Don'ts for Motor Insurance and
General Advice for Motor Insurance
Insurance claim process (Step by Step)MayaFontenot
Don't struggle to get the best insurance agent in your locality, visit https://insurance.agencyheight.com/ and have the liberty to choose between multiple insurance agents.
Check the next link to discover more about Insurance Claim Process, you must check out: https://www.agencyheight.com/insurance-claim-process/
The PPT is showing Insurance Claim Process information but also try to cover the following subject:
-auto insurance claim
-insurance claim
-how insurance claims work
The rate of your premium might increase if you file multiple claims. In some cases, your insurance carrier might even decide to deny you coverage if you have a high rate of insurance claims.
Watch full video on link given below-
https://youtu.be/jPZpvgUSL2Q
Motor Vehicle Insurance is the insurance coverage of risk arising out of the use of motor vehicle such as car, truck or other vehicles causing damage and loss to oneself as well as other’s property in an accident.
Motor Insurance is mandatory as per the Motor Vehicles Act passed in the year 1938 and subsequently amended.
Motor Insurance provides coverage related to property damage, bodily injury, medical expenses and any other sort of compensation in legal proceedings.
It is also referred as Auto Insurance, Vehicle Insurance and Car Insurance.
Types of Motor Insurance are -
Private Car Insurance
Commercial Vehicle Insurance
Defense Vehicle Insurance
Two Wheeler Insurance
Motor Vehicle Insurance generally comprises of following two components –
Third party liability coverage is the part of insurance policy which protects you in case you are sued or asked compensation for any physical injury or damage to someone else’s property by your vehicle accidently.
Third party liability could be of following nature – Bodily injury liability and Property damage liability.
Factors affecting premium of Insurance Policy-
Type of vehicle
Physical condition of driver
Geographical area of use
Age of vehicle
Losses Covered under Motor Insurance -
Loss or damage by accident, fire, lightning, theft, malicious act, natural disaster
Third party liability in form of injury ,death and damage to property
Medical Expenses
Exclusions under Motor Insurance-
Normal wear and tear
Damage when person was driving without license
Damage when person was driving in influence of alcohol
Damage due to a war
Thank you for Watching
Subscribe to DevTech Finance
DID YOU KNOW??
Today, the insurance industry in Malaysia offers more than just financial protection; there’re also great job opportunities for you.
Whatever careers you choose in this industry; you’ll enter an industry that offers great career development and growth through training and education.This is great place to start!!
View what career opportunities offered to talented people in the Malaysian insurance industry today.
You can also explore various other careers in insurance, the next question is only – when? The future’s bright. The future starts today!
Insurance Sector Development & Economic Growth in MalaysiaSofia Naznim
To investigate the link between the insurance sector development and economic growth of Malaysia and to fill a gap in the current finance-growth nexus.
Research Based.
This presentation gives an brief introduction about the growth of insurance sector in India. It also give description about the major players existing in the finance market of insurance.
This presentation is part of our continuing series of training modules for the Financial Services Industry. The Insurance Industry Overview module provides a quick look at products offered by insurance companies and how insurance companies are organized. We provide training in a wide range of topics targeted at the business lines of financial services companies. Contact us for a quote or a needs analysis. Please email me at: Floyd.saunders@yahoo.com.
Acknowledgement
The success and final outcome of this assignment required a lot of guidance and assistance from many people and we extremely fortunate to have got this all along the completion of our assignment work. Whatever we have done is only due to such guidance and assistance and we would not forget to thank them. I respect and thank Ms. Vimalah for giving we an opportunity to do this assignment work and providing us all support and guidance which made me complete the assignment on time, We extremely grateful to her for providing such a nice support and guidance.
We are really grateful because we managed to complete this assignment within the time given by Ms.Vimalah. This assignment cannot be completed without the effort and co-operation from our group members. Group member’s Zaniah, Shakila, Sharif, Icuk, and Thomas. Last but not least, we would like to express our gratitude to our friends and respondents for support and willingness to spend some time with us.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
The Insurance Industry in Mongolia, Key Trends and Opportunities to 2022Pravinkad941
New Report on Insurance Industry in Mongolia Market added to Orbisresearch.com database. The report provides an extensive research and detailed analysis of the present market along with future outlook. The report also provide detail analysis of the market structure along with forecast, market size & share, various segments and growing trends of the Insurance Industry in Mongolia.
Life Insurance in South Africa, Key Trends and Opportunities to 2017:Industry...michalgilly
Life Insurance in South Africa, Key Trends and Opportunities to 2017 @ http://www.researchmoz.us/life-insurance-in-south-africa-key-trends-and-opportunities-to-2017-report.html
10
Contents:
Acknowledgment……………………………………………………………………………
Abstract ……………………………………………………………………………………………...Chapter 1:
Economic insurance sector in Saudi Arabia……………………………………………..
Problems that the economical insurance sector in Saudi Arabia is facing………..
Goal of the project……………………………………………………………………..
Objective of the project……………………………………………………………….
Company profile ……………………………………………………………………………..
Introduction of Marsh………………………………………………………………..
Marsh & McLennan Company SWOT analysis……………………………………
General line…………………………………………………………………………………
Medical………………………………………………………………………………………
Placement……………………………………………………………………………………
Chapter 2:
Data collocation……………………………………………………………………………
Chapter 3:
Computing liquidity ratio ………………………………………………………………..
Computing profitability measures ……………………………………………………….
Profit margin ……………………………………………………………………………..
Computing market value measure ………………………………………………………….
Conclusion &recommendation……………………………………………………………..
Reference…………………………………………………………………………………..
Appendix …………………………………………………………………………………...
Abstract
Insurance companies have played a big role in ensuring that they take risks on behalf of the insured. By being insured, the insured is able to have peace of mind. A good protection and management are done for your business. However, in order to be successful in the insurance sector, there are several participants who play key roles in the sector. This project shows how one of the participants, the insurance broker, works in this sector.
An insurance broker is one of the participants who help the company in selling and negotiating insurance for compensation. The insurance broker duty is to work and get the best interest of the insured or his client and provide the right advice, which is independent of any influence of the insurance company in terms of professional advice.
This project shows a framework of all the roles of the insurance broker in the insurance company into much detail. An insurance broker is very important in the insurance company in ensuring its success. In this project, the insurance broker is the main theme and a clear illustration is made on how they bring an effect in the sector. The growth of the insurance services sector is illustrated how it has affected by the presence of the insurance broker in the sector.
A close statistical data review of the insurance sector is undertaken in the project. A review of how Marsh &McLennan shows the role of their insurance broker is laid out. They particularly deal with clients and new customers by explaining to them the products offered by the company and the benefit they get from it. The project talks about how to avoid risks that insurers are exposed to, and how strategies on how to grow in the sector.
Chapter1:Introduction
Background
Economic insurance sector in Saudi Arabia
In the 1950s Saudi Arabia had a small amount of the insurance activity. The industry started showing sustained growth after the oil ...
The takaful market has become more diverse with a tremendous increase in the
number of takaful operators worldwide. In overall, the growth of takaful has been
consistently increasing since 2010. Nevertheless, there is a slight difference between
family takaful and general takaful growth, unfavorably the family takaful. Thus, this
research is carried out to examine the significant factors influencing the choice of
family takaful among its participants. For that purpose, one takaful operator has been
sampled out. The findings relate to three contributing factors to the demand of family
takaful products; benefits, product features and quality services. Based on the
findings, takaful operator should focus in improving the takaful agents’ knowledge
Mercer Capital's Value Focus: Insurance Industry | Q3 2015Mercer Capital
Mercer Capital’s Insurance Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to insurance brokers, underwriters, and other industry professionals. Each issue includes a segment focus, market overview, mergers and acquisitions review, and more.
Investment opportunities in the non-banking sector - 2014 Imara Investor Conf...Imara Group
Presentation on the investment opportunities in the non-banking sector, by Douglas Hoto from First Mutual Holdings at the Imara Investor Conference 2014 in Zimbabwe.
Similar to Malaysia's general insurance : summary (20)
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
2. The Financial System Structure in Malaysia
Regulatory Bodies and Policy Makers
- i.e. BNM, MOF and other Government agencies
Financial Service Providers
Financial Institutions
Financial Market
•
Banking Institutions
- BNM
- Commercial banks
Non-Banking
- Money & Foreign
exchange operators
Financial Intermediaries
- Private equities
- Investment banks
- Social securities (EPF,
pension fund, etc.)
- Public debt
securities
- Islamic banks
- Insurance, Reinsurance
and Takaful
- Stock exchanges
- Others (discount
houses,
representatives of
foreign banks)
- Savings institutions
- Leasing companies
- Development Finance
Institutions
- Others (unit trusts,
venture capital
companies, credit
guarantee, etc.)
•
•
- International
offshore financial
centres
•
The financial system in Malaysia is regulated by Bank
Negara Malaysia and the Ministry of Finance (MOF).
Other governing bodies of the financial system
includes the Securities Commission and the General
Insurance Associate of Malaysia.
The financial institutions in Malaysia are categorized
under Banking Institutions and Non-Banking Financial
Intermediaries.
In Malaysia, the Securities Commission Malaysia
(SC) is entrusted with the responsibility of regulating
and systematically developing the capital markets. It
reports to the MOF. The SC’s ultimate responsibility is
to protect the investors.
Under the purview of the SC and the MOF, Bursa
Malaysia operates a fully-integrated exchange, offering
the complete range of exchange-related services
including trading, clearing, settlement and depository
services.
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
2
3. Overview of General Insurance Industry in Malaysia
•
The insurance industry in Malaysia is categorized into Life
insurance, General insurance and Takaful insurance.
•
The major categories of general insurance are marine, aviation
and transit insurance (MAT), fire insurance, medical and
personal accident insurance (PA) and motor insurance. Other
miscellaneous insurance schemes include, among others,
bonds, liabilities, contractor’s all risk and engineering risk
insurance, workmen’s compensation and employers’ liability
insurance as well as other types of miscellaneous insurance not
falling within any of the classification mentioned.
Insurance
General
Life
Marine,
Aviation and
Transit
Fire
Medical and
Personal
Accident
Takaful
Motor
Others
Breakdown of Insurance Segments in Malaysia, 2012
Takaful
4.2%
General Insurance
35.5%
Life Insurance
60.3%
o Marine, Aviation and Transit (MAT) insurance schemes
include insurance coverage for the marine hull, aviation,
cargo and offshore oil and gas related
o Fire insurance schemes cover losses or damages to
properties caused by fire, lightning, or explosion of domestic
boiler or domestic gas cylinder not forming part of any gas
work.
o Medical and health insurance schemes provide coverage on
the cost of medical treatment at private clinics or hospitals.
PA schemes provide personal compensation in the event of
injuries, disabilities or death caused by accidental means.
Additionally, PA schemes also include travel insurance which
provides coverage against travel related accidents, losses or
interruption.
o Motor insurance provides financial protection against physical
damage and/or bodily injury resulting from moving vehicle
accidents and against liability that could result from it.
o Other miscellaneous insurance schemes include, among
others, bonds, liabilities, contractor’s all risk and engineering
risk insurance, workmen’s compensation and employers’
liability insurance
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
3
4. Overview of General Insurance Industry in Malaysia
Gross Direct Premium (RM million)
General Insurance Market Size and Growth Rate in
Malaysia, 2009-2018F
25,000
Other
9.6%
20,000
MAT
10.5%
15,000
5,000
2009
2010
MAT
•
•
Motor
48.4%
Medical and PA
14.2%
10,000
0
•
Breakdown of the General Insurance Segments in
Malaysia, 2012
2011
Fire
2012 2013E 2014F 2015F 2016F 2017F 2018F
Medical and PA
Motor
Misc
Fire
17.1%
Total Gross Direct Premium 2012 : RM 14.1 billion(show 2011
figures)
The general insurance market in Malaysia has sustained a robust growth trend, recording a CAGR of 7.0% for the period 2009 to 2012. In 2012,
the size of the general insurance market in Malaysia as measured by gross direct premium was approximately RM14.1 billion, having grown by
3.8% from the previous year. The industry is expected to grow with a CAGR of 8.8% for the period of 2013E to 2018F.
In 2012, the motor insurance market segment accounted for RM6.8 billion or 48.4% towards the total general insurance market size (based on total
gross direct premium). This was followed by the fire insurance segment of RM2.24billion (17.1%), medical and PA insurance segment of RM2.0
billion (14.2%), and MAT insurance segment of RM1.5 billion (10.5%). Other miscellaneous segment contributed RM1.3 billion, or 9.6% towards
the total gross direct premiums.
The motor insurance segment continues to be a key segment for the general insurance industry in Malaysia due to the growing number of
vehicles in the country and the mandatory regulatory requirement for all vehicles to have insurance coverage. The large market share is mainly
due to the regulation, where the Road Transport Act 1987 requires that all vehicle owners to have at least a minimum third party liability
coverage. This policy provides liability coverage against the injury or death of other people caused by an accident.
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
4
5. Malaysia’s Economy
Inflation Rate, Real Gross Domestic Product and Real Interest Rate (1981-2012)
12
10
8
% Change
6
4
2
0
-2
-4
-6
Year
Commodity Crisis
Asian Financial Crisis Dot-com Bubble,
9/11
-8
US/Europe recession
-7.4%
Global Financial
Crisis
US sub-prime mortgage crisis
Thai Flood, Japan Earthquake
Inflation Rate (%)
Real GDP Growth (%)
Real Interest Rate (%)
Key Takeaways
• The financial liberation measure started since the 1970’s but was temporarily rescinded during the global economic crisis
of 1985-86 (Commodity Crisis). Having learned the lesson from the series of events that led to the Commodity Crisis,
Malaysia since embarked on adopting prudent fiscal and monetary measures that helped the country to pull through
during the adverse economic conditions of 1997-98 (Asian Financial Crisis), 2001-03 (Dot-com Bubble and Post-9/11) and
2008-09 (Global Financial Crisis) with shorter recovery periods.
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
5
6. General Insurance Segment in Malaysia, 2009 – 2018F
Gross Direct Premium (RM million)
Key Takeaways
16,000
8.0%
9.1%
5.9%
14,000
3.8%
12,000
10,000
8,000
6,000
4,000
2,000
0
2009
MAT
Fire
2010
Medical and PA
2011
Motor
2012
Misc
Annual Growth Rate
Gross Direct Premium (RM million)
9.3%
25,000
9.3%
9.3%
8.6%
8.3%
20,000
8.4%
23,330
21,327
20,554
18,812
17.361
16,029
15,000
• This industry is forecast to grow at a CAGR of 8.8%
between 2013E and 2018F to reach RM23.3 billion.
Growth is expected to be highest in the medical and
PA insurance segment (CAGR 2013E-2018F:
11.7%).
• Prospect in the motor segment is expected to
improve further with the expected lifting of the motor
insurance tariff by 2016. This segment is forecast to
grow at a CAGR of 8.4% from 2013E to 2018F.
10,000
5,000
0
MAT
• Between 2009 and 2012, the medical and PA
insurance segment experienced the highest
growth, with a CAGR of 10.0%. The strong growth
is largely driven by a number of factors such as
rising middle class population, rising medical
costs, rapid urbanisation and GDP growth. This
was followed by the insurance segments for motor,
fire and MAT with CAGR of 9.2%, 5.9% and 8.2%
respectively during the same period. Meanwhile,
other miscellaneous segments recorded a CAGR of
-4.4%.
2013E
Fire
2014F
2015F
Medical and PA
2016F
Motor
2017F
Misc
2018F
Annual Growth Rate
• The fire and MAT insurance segments are forecast
to grow at a CAGR of 7.4% and 6.2% respectively
for the period 2013E-2018F.
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
6
7. Overview of General Insurance Segment in Malaysia,
Market Size and Growth Rate, 2009 - 2012
Motor
Gross Direct
Premium
2012
MAT
CAGR
2009 - 2012
9.2%
RM6.8 Billion
Gross Direct
Premium
2012
RM2.0 Billion
CAGR
2009 - 2012
10.0%
8.2%
RM1.5 Billion
Fire
Medical and PA
Gross Direct
Premium
2012
CAGR
2009 - 2012
Gross Direct
Premium
2012
RM2.4 Billion
CAGR
2009 - 2012
5.9%
•Medical and PA segment has the highest double digit growth with 10.0% CAGR from 2009 until 2012, followed by Motor segment with 9.2%
CAGR.
•Motor segment has more Gross Direct Premium in 2012 with all MAT, Medical and PA and Fire combined, this explains the volume of motor
segment in Malaysia and the high growth factor.
•MAT, Medical & PA and Fire has almost similar amount of Gross Direct Premium in 2012, but growing at different rate mainly due to the
difference in market demand.
Source : Bank Negara Malaysia , Frost and Sullivan 7
Analysis
8. General Insurance Segment in Malaysia, 2009 – 2018F
Market Size and Forecast Growth Rate
Gross Direct Premium (RM million)
Motor
12,000
10,000
8,000
6,000
4,000
2,000
0
Gross Direct Premium (RM million)
2009
2010
2011
2012 2013E 2014F 2015F 2016F 2017F 2018F
Medical and PA
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2009
2010
2011
2012
2013E 2014F 2015F 2016F 2017F 2018F
• The motor insurance is expected to grow with a CAGR of 8.2% from
2013E to 2018F, mainly due to the increase in the sales of vehicles
along the years in Malaysia. In 1980, the annual sale of vehicles was
recorded at 97,262 units and this has since increased to 627,753 units in
2012, registering a CAGR of 6.0% for the said period.
• The Government intends to liberalise the motor insurance industry
by 2016, by allowing general insurance companies to vary the premium
based on the risk profile of individual vehicle owners. The revision in
motor tariff premium rates was part of the New Motor Cover Framework
that is aimed at addressing the structural issues within the motor
insurance sector to ensure continuous and sustainable motor protection
to users. The New Motor Cover Framework will pave the way
towards the Government’s policy of de-tariffing the motor
insurance premium by 2016. Moving forward, this will allow general
insurance company to vary the premium rates based on the risk profile
of individual vehicles owners.
• The Medical and PA insurance is expected to grow with a CAGR of
13.6% from 2013E to 2018F. The double digit growth is largely
influenced by the increase in outbound travellers in Malaysia as well as
the requirement under the Hospitalisation and Surgical Scheme for
Foreign Workers (SPIKPA). Under SPIKPA, all foreign workers are
required to have medical insurance coverage effective from 1st January
2011
• In 2012, there were 33.4 million passengers departing from Malaysia’s
airport, an increase of 5.4% from 2011. The strengthening of the
Malaysian currency, the introduction of tourism initiatives such as the
Malaysian Association of Tour and Travel Agents (MATTA) Fair,
availability of affordable / budget airlines and the ease of purchasing
flight and travel packages via the Internet are among key contributors
towards this trend of increasing outbound travel activities.
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
8
9. General Insurance Segment in Malaysia, 2009 – 2018F
Gross Direct Premium (RM million)
Market Size and Forecast Growth Rate
MAT
• The MAT segment of the general insurance is expected to grow with
CAGR of 6.7% from 2013E to 2018F.
2,500
• Under the ETP, the Performance Management & Delivery Unit
(PEMANDU) has identified eight strategic reform initiatives that are
expected to boost the local economic growth which in turn may spur
trading activities and improve business sentiments in the country.
Increasing business activities may also provide insurance opportunity for
general insurance companies especially in the MAT insurance segment.
2,000
1,500
1,000
500
0
Gross Direct Premium (RM million)
2009
2010
2011
2012
2013F 2014F 2015F 2016F 2017F 2018F
Fire
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
• The growth of fire insurance is expected to also grow with a CAGR of
7.6% from 2013E to 2018F, due to the strengthening of Malaysian
property market from 430,403 transactions worth RM137.8 billion in
2011 to 427,520 transactions worth RM142.8 billion in 2012.
• The increasing number of property units in Malaysia provides an
opportunity for general insurance companies to provide fire insurance
coverage for these property owners.
• The incoming supply of residential units increased by 11.9% from
553,884 units in 2011 to 619,950 units in 2012. Regulatory requirement
such as the Strata Titles (Amendment) Act 2013 requires the
management corporation to provide sufficient insurance coverage
against fire for buildings under their care is a key driver for the uptake of
fire insurance.
0
2009
2010
2011
2012
2013F 2014F 2015F 2016F 2017F 2018F
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
9
10. General Insurance: Claims ratio, Expense ratio & Underwriting Margin
120%
100%
80%
60%
40%
20%
0%
2008
Claims Ratio
2009
2010
2011
Expense Ratio
2012
Combined Ratio
• The general insurance industry shows a slightly declining
combined ratio, where both claims ratio and expense ratio is
moving downwards year on year. This shows that the general
insurance companies are having to pay lesser amount of
claims despite charging the same amount of premiums
yearly.
• However, there is a wider opportunity for general insurance
companies, as the level of insurance penetration in Malaysia is
still well below 50% according to PIAM.
• The general insurance segment is very fragmented, therefore
BNM has urged for consolidation among general insurance
players. This step is to strengthen the industry as a whole in
years to come.
• Underwriting margin of these industry is growing with a CAGR of
92.7% from 2008 until 2012, this is a huge growth and states that
general insurance companies are growing healthily.
2008
2009
2010
2011
2012
Underwriting Margin (RM
Million)
101.4
791.5
767.1
1078.9
1399.0
Claims Ratio
65.9%
60.7%
62.6%
60.2%
56.9%
Expense Ratio
26.0%
24.7%
23.4%
22.8%
23.7%
Combined Ratio
91.9%
85.4%
86.0%
83.0%
80.6%
Source : Bank Negara Malaysia , Frost and Sullivan Analysis
10
11. Demand Dynamics
MAT
Fire
Medical and PA
Motor
Increased number of
outbound travelers
New Motor Cover
Framework
Regulatory Requirement
Increased sales of
vehicles
Rising Income Per Capita
Drivers
Increasing Awareness
Restraints
Implementation of ETP
Growing Property Market
Competition from Takaful Products
Global Economic Slowdown Resulted in
Decline of Import and Export Activities
-
Heavily Subsidised
Public Healthcare
System
-
Key Takeaways
• BNM liberalised the domestic insurance sector in 2009 by increasing foreign equity participation threshold in insurance
companies from 49% to 70% as well as allowing locally-incorporated foreign insurance companies to establish branches
nationwide without restrictions.
• The implementation of the RBC framework and the liberalisation plan by BNM has made domestic insurance companies
become more attractive as M&A targets. As a result, the general insurance industry in Malaysia has become less fragmented.
Source : Frost and Sullivan Analysis
11
12. M&A in General Insurance Industry in Malaysia, 2010 - 2013
Year
Description
2010
2011
2012
2013
AXA Affin General Insurance Berhad acquired BH Insurance (M) Berhad for RM363 million.
Overseas Assurance Corporation (Malaysia) Berhad acquired Tahan Insurance Malaysia Berhad’s general
insurance business for RM15.0 million
The general insurance arm of Hong Leong Assurance Berhad was acquired by MSIG Insurance (Malaysia) Berhad
for RM33.64 million
Canada’s Fairfax Financial Holdings acquired The Pacific Insurance Berhad for USD64 million
ACE Group merged two of its units, Ace Synergy Insurance Berhad and Ace Jerneh Insurance Berhad into one –
Ace Jerneh Insurance Berhad.
Japan’s Sompo acquired 40% stake in Berjaya Sompo Insurance Berhad for RM496 million.
Zurich Insurance Group acquired Malaysian Assurance Alliance Berhad and renamed it to Zurich Insurance
Malaysia Berhad for USD287 million.
AmG Insurance Berhad, the local affiliate of Insurance Australia Group (IAG) acquired Kurnia Insurans Malaysia
Berhad for RM1.63 billion.
AMMB Holdings Bhd has completed the acquisition of Kurnia Insurance Bhd and the latter is now a unit of
AMMB’s 51% subsidiary AmG Insurance Bhd.
Canada-based Sun Life Financial Inc/Khazanah Nasional’s acquisition of 98% stake in CIMB Aviva Assurance and
CIMB Aviva Takaful (from Aviva International Holdings Ltd and CIMB Group Holdings Bhd) for RM1.8 billion.
Tune Ins Holdings bought a 77.92% controlling stake at Oriental Capital Assurance Bhd (OCA) from Maika
Holdings Bhd and G Team Resources & Holding for RM153.13mil cash.
AIA Group’s purchase of ING’s Malaysian insurance and takaful business.. For USD1.7 billion
Zurich Group’s acquisition of MAA Assurance completed.
Sanlam Ltd completed their acquisition of Pacific & Orient Insurance Co. Berhad in 2013 for RM270million.
AMMB Holdings Bhd who is in search of a suitable partner to hive off its 51%.
Source: Frost & Sullivan analysis.
Source : Frost and Sullivan Analysis
12
13. THANK YOU
For Full Slide Deck please contact
june.liang@frost.com
Business & Financial Services Department
Malaysia
13