Insurance Services (agencies) Companies in Malaysia

The Malaysian insurance industry is one of the most developed in Southeast Asia. The industry is regulated by the Malaysian Insurance Commission (MID), which is a statutory body under the Ministry of Finance. The MID is responsible for the regulation and supervision of the insurance industry in Malaysia.

There are a total of 99 insurance companies in Malaysia, of which 58 are life insurers and 41 are general insurers. The top five life insurers in Malaysia are AIA Bhd, Great Eastern Holdings Bhd, Prudential Bhd, CIMB Aviva Bhd and Manulife Bhd. The top five general insurers are AIG Malaysia Bhd, Allianz General Insurance Company (Malaysia) Bhd, AmGeneral Insurance Bhd, AXA Affin General Insurance Bhd and Etiqa Insurance Bhd.

The Malaysian insurance industry recorded a gross written premium (GWP) of RM60.4 billion (US$18.4 billion) in 2015, an increase of 7.4% from RM56.3 billion in 2014. The life insurance segment accounted for the lion’s share of the GWP with RM42.1 billion (US$12.9 billion), followed by the general insurance segment with RM18