Petaling Jaya: The insurance industry registered a 6.9% increase in combined premium income last year to RM23.56bil (2004: 17.2% to RM22.04bil).
The level of insurance coverage continued to expand in 2005 as market penetration (measured in terms of life policies in force to the total population) deepened further to 38.7% (2004: 37.9%), according to Bank Negara's Insurance and Takaful annual report for 2005, released yesterday.
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