Malaysia’s Insurance and Takaful Sector to Stay Resilient: RAM Ratings
May 10, 2022 | Updated at May 10, 2022
Malaysia’s insurance and takaful sector is anticipated to maintain resilience despite investment volatilities and the normalisation of claims experience as the country approaches the endemic status, according to RAM Ratings.
Why it Matters?
Malaysia’s insurance and takaful sector’s stable outlook has been maintained by RAM Ratings. In 2022, the life and family takaful segments’ new business growth is predicted to be 10% and 20%, respectively, after the sector recovered strongly from the pandemic effects in 2021. General insurance and takaful players' claims experience is expected to improve as well while capitalisation will remain strong, providing sufficient protection against downside risks. External uncertainty will continue...