Moderate growth likely for general insurance

Moderate pace: Chua (right) addressing issues impacting the general insurance industry at the media briefing on general insurance industry results for the first half of 2015. Beside him is PIAM chief executive officer Mark Lim.

KUALA LUMPUR: The general insurance industry is likely to grow at a moderate pace, given the present challenging economic climate.

The General Insurance Association of Malaysia (PIAM) has downgraded this year’s projected growth for the general insurance industry to between 3% and 4% from 5.5% to 6.5% in a February projection.