Mark Tucker
PAN-ASIAN life insurer AIA Group Ltd sees Malaysia as a growth market, given that the life insurance penetration rate in the country stands at only 41%, a relatively low rate compared with neighbouring countries.
Positive demographic changes and increased urbanisation represent opportunities that life insurers can take advantage of. Additionally, Bank Negara’s recent concept paper on life insurance and family-takaful highlighted the Government’s efforts to increase penetration rate to 75% by 2020.
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