Malaysia's Non-Life Insurance Stable Despite Climate Risks
Malaysia's Non-Life Insurance Stable Despite Climate Risks
The non-life sector as a whole is poised for significant growth underpinned by economic recovery, rising insurance penetration, rate hikes due to high inflation and rising claims, and growing demand for digital insurance and takaful products.
The outlook of Malaysia's non-life insurance segment remains stable owing to sustained underwriting and pricing discipline, in spite of rising climate-related risk especially from flooding, according to global credit rating agency AM Best in a report released on Dec 18.
根据全球信用评级机构Am Best于12月18日发布的报告，尽管与气候相关的风险，特别是洪水风险上升，马来西亚的非寿险市场前景依然稳定，这得益于持续的承保和定价纪律。
In 2023, gross premiums written continued to grow in Malaysia's non-life insurance segment, primarily driven by the dominant motor coverage and fire insurance lines which together accounted for 70% of the non-life segment in 2021.
在2023年，马来西亚非人寿保险领域的毛保费继续增长，主要受到主导的机动车保险和火灾保险的推动，这两者在2021年合计占非人寿领域的70%。
Looking ahead, motor and fire insurance are expected to be key drivers for the non-life insurance segment in 2025.
展望未来，机动车和火灾保险预计将在2025年成为非人寿保险领域的关键驱动力。
The non-life sector as a whole is poised for significant growth underpinned by economic recovery, rising insurance penetration, rate hikes due to high inflation and rising claims, and growing demand for digital insurance and takaful products.
非人寿行业整体预计将在经济复苏、保险渗透率上升、高通胀导致的费率上涨、索赔增加以及对数字保险和清真保险产品需求增长的支持下，实现显著增长。
With more frequent severe weather occurences, local non-life insurers face rising climate-related risks affecting underwriting performance. In 2023, the industry experienced declining underwriting profitablity as a result of increased climatic losses, inflationary pressure and competitive market conditions. These factors persist despite recent premium rate hikes, particularly for certain products following the extreme flooding.
随着极端天气事件的频繁发生，当地非人寿保险公司面临着日益增长的气候相关风险，影响承保表现。在2023年，行业因气候损失增加、通货膨胀压力和竞争市场环境而经历了承保盈利能力下降。这些因素在近期费率上涨后仍然持续，特别是对于某些产品，在极端洪灾之后。
In the near term, non-life insurers are expected to continue raising premiums for flood-related products while improving underwriting strategies to mitigate risks over the long term. The stark projection for flood damage coverage has reflected the high monetary losses arising from of 2024's year-end flooding, which is widely regarded as the worst in a decade.
在短期内，非人寿保险公司预计将继续提高与洪水相关产品的保费，同时改善承保策略，以降低长期风险。洪水损失覆盖的明朗预测反映了由于2024年年末洪水造成的高额货币损失，这被广泛认为是十年来最严重的一次。
Bank Negara Malaysia (BNM) has implemented various initiatives to improve insurance penetration including licensing new digital insurance and takaful operators (DITOs) to embrace digital transformation and realise financial inclusion.
马来西亚国家银行（BNM）实施了多项措施，以提高保险渗透率，包括对新的数字保险和伊斯兰保险运营商（DITOs）进行许可，以拥抱数字转型，实现金融包容。
The Licensing and Regulatory Framework for DITOs was implemented in July 2024 and includes a two-year application period that will run through 2025 and 2026 to close protection gaps and enhance market access.
对DITOs的许可和监管框架于2024年7月实施，包括为期两年的申请期，该申请期将持续到2025年和2026年，以填补保护缺口并增强市场准入。
