Life insurance industry new business premiums up 12%

Life Insurance Association of Malaysia (Liam) president Loh Guat Lan said the stronger performance of the life insurance industry reflected the increase in awareness among consumers on the importance of life insurance protection amid the Covid-19 pandemic.

KUALA LUMPUR: The life insurance industry registered a double-digit growth of 12.4% or RM12.8bil in new business total premiums in 2021 from RM11.4bil in 2020.

In a statement, Life Insurance Association of Malaysia (Liam) president Loh Guat Lan said the stronger performance of the life insurance industry reflected the increase in awareness among consumers on the importance of life insurance protection amid the Covid-19 pandemic.