Life insurance industry records slightly lower new business total premiums in 2020

LIAM President Loh Guat Lan

KUALA LUMPUR: The life insurance industry recorded a slight decline of 3.2 per cent in new business total premiums to RM11.4 billion last year from RM11.8 billion in 2019, the Life Insurance Association of Malaysia (LIAM) said.

According to LIAM, the industry's overall new business sum assured also fell by 7.2 per cent to RM437.2 billion in that period from RM471.3 billion in 2019.

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