2025: Motor Losses, Climate Risks, Digital Shifts Shape General Insurance Landscape

By K. Naveen Prabu

KUALA LUMPUR, Dec 8 (Bernama) -- Malaysia’s general insurance sector ends 2025 with resilience and underlying fragility.

Basic Medical And Health Insurance Introduced In 2027 To Be A Standalone Product -- MoF

KUALA LUMPUR, Dec 4 (Bernama) -- The basic medical and health insurance (MHIT) to be introduced in early 2027 will be a standalone product and not linked to investments, according to the Finance Ministry (MoF).

Healthcare, Insurance Industries Revive GMC To Strengthen Medical Claims Management

KUALA LUMPUR, Nov 14 (Bernama) -- The healthcare and insurance/takaful industries have reactivated the Grievance Mechanism Committee (GMC) with the support of the Health Ministry and Bank Negara Malaysia, bringing together medical professionals, hospitals, insurers, takaful operators, and regulators to address systemic claims challenges.

BNM Reset Product’s Pilot to Start Next Year, Targeting Medical Inflation, Premium Pressures -- Governor

KUALA LUMPUR, Nov 14 (Bernama) – Bank Negara Malaysia’s (BNM) proposed basic medical and health insurance/takaful (MHIT) product is being finalised this year, with a pilot to begin next year as part of a strategy to address medical inflation and rising insurance premiums.

ITOs Must Submit Information To BNM Before Implementing Premium Readjustments — Lim Hui Ying

KUALA LUMPUR, Nov 6 (Bernama) -- Insurers and takaful operators (ITOs) are required to submit all necessary information to Bank Negara Malaysia (BNM) for review before implementing premium readjustments, said Deputy Finance Minister Lim Hui Ying.

AM Best Rates Delta’s Affiliates’ Performance Assessment Excellent

KUALA LUMPUR, Nov 3 (Bernama) -- Global credit rating agency, AM Best has affirmed the performance assessment (assessment) of PA-2 (Excellent) of Delta Insurance New Zealand Limited and Delta Underwriting Private Limited, Singapore.

Insurance, Takaful Industry Record Improvement In Service Excellence In 2024

KUALA LUMPUR, Oct 2 (Bernama) -- The Malaysian insurance and takaful industry has recorded an improvement in service excellence, with the latest Customer Satisfaction Index (CSI) reaching a commendable 88 points in 2024.

Lower-income Malaysians Making Financial Progress, 55 Pct Start Retirement Planning In 2025 - Ringgitplus

PETALING JAYA, Oct 1 (Bernama) -- Financial comparison platform RinggitPlus has reported encouraging progress among lower-income Malaysians, with a growing proportion of respondents taking steps towards achieving long-term financial security.

CIMB Extends Payment Relief To Customers Affected By Sabah Floods

KUALA LUMPUR, Sept 19 (Bernama) -- CIMB Bank Bhd and CIMB Islamic Bank Bhd have reiterated that the CIMB flood relief assistance plan remains available to support customers affected by the recent floods in Sabah.

AM Best Withdraws New Zealand's Foundation Life Ratings Following Policy Cancellations 

KUALA LUMPUR, Sept 19 (Bernama) -- Global credit rating agency, AM Best has withdrawn the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Foundation Life (NZ) Limited (FLNZ) as the company no longer holds insurance policy liabilities.

Interim Measures Effective In Curbing Medical Costs, Insurance Premium Inflation -- Governor

KUALA LUMPUR, Aug 15 (Bernama) -- Interim measures to manage rising medical costs remain effective, as ongoing initiatives will strengthen healthcare delivery and help curb medical insurance inflation, said Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour.

AKPK Offers Free Financial Advisory Service For MHIT Policyholders Facing Premium Hikes

KUALA LUMPUR, Aug 15 (Bernama) -- The Credit Counselling and Debt Management Agency (AKPK) has introduced a free financial management service to assist policyholders affected by premium increases for their medical and health insurance and takaful (MHIT) plans.