Malaysian non-life insurance market forecast 2024-2028

According to GlobalData, the Malaysian non-life insurance market is expected to grow at a compound annual growth rate (CAGR) of 7.8%.

Premium volume is projected to rise from 22.6 billion MYR (5 billion USD) in 2024 to 30.5 billion MYR (6.8 billion USD) in 2028.

The sector's growth would depend on the motor business trends, which accounts for an estimated market share of 46.9% in 2024.

The motor business is followed by the personal accident and health (PA&H) lines, with respective market shares of 26.4% and 10.1% in 2024.