In 2023, the annual premium of life insurance companies in Malaysia amounted to approximately 46.35 billion Malaysian ringgit, an increase compared to the previous year. Since the share of the population with a life insurance is still relatively low, the insurance industry in Malaysia still has a high growth potential.

The Malaysia Life & Annuity Insurance Market report segments the industry into By Product Type (Conventional, Investment Linked, Annuity), By End-User Type (Individual, Group), and By Distribution Channel (Direct, Brokers, Banks, Online, Other Distribution Channels). Includes five years of historical data with five-year forecasts.

Malaysia Life Insurance: Business in Force: SI: Ordinary Life: Others data was reported at 65,456.300 MYR mn in 2017. This records a decrease from the previous number of 72,740.200 MYR mn for 2016. Malaysia Life Insurance: Business in Force: SI: Ordinary Life: Others data is updated yearly, averaging 55,440.800 MYR mn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 75,528.600 MYR mn in 2015 and a record low of 3,570.300 MYR mn in 1990. Malaysia Life Insurance: Business in Force: SI: Ordinary Life: Others data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z023: Insurance Statistics: Life Insurance.

In 2023, the total premium income of life insurance companies in Malaysia amounted to around ***** billion Malaysian ringgit, an increase compared to the previous year. Since the share of the population with a life insurance is still relatively low, the insurance industry in Malaysia still has a high growth potential.

In 2023, the total number of policies from new insurance business issued in Malaysia amounted to around 1.23 million units, a decrease compared to the previous year. Since the share of the population with a life insurance is still relatively low, the insurance industry still has a high growth potential.

Life Insurance: Business in Force: SI: Ordinary Life: Whole Life data was reported at 181,788.800 MYR mn in 2017. This records a decrease from the previous number of 186,282.700 MYR mn for 2016. Life Insurance: Business in Force: SI: Ordinary Life: Whole Life data is updated yearly, averaging 157,509.900 MYR mn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 194,644.400 MYR mn in 2013 and a record low of 25,931.400 MYR mn in 1989. Life Insurance: Business in Force: SI: Ordinary Life: Whole Life data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z023: Insurance Statistics: Life Insurance.

Life Insurance: New Business: SI: Ordinary Life: Endowment data was reported at 12,356.600 MYR mn in 2017. This records a decrease from the previous number of 13,966.600 MYR mn for 2016. Life Insurance: New Business: SI: Ordinary Life: Endowment data is updated yearly, averaging 12,933.600 MYR mn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 16,840.900 MYR mn in 2009 and a record low of 2,537.100 MYR mn in 1989. Life Insurance: New Business: SI: Ordinary Life: Endowment data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z023: Insurance Statistics: Life Insurance.

Life insurance premium volume to GDP (%) in Malaysia was reported at 2.4457 % in 2019, according to the World Bank collection of development indicators, compiled from officially recognized sources. Malaysia - Life insurance premium volume to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

According to a survey on financial literacy conducted in Malaysia, as of September 2024, nearly half of the respondents said they owned a life insurance policy. Meanwhile, another ** percent of respondents said they did not own life insurance.

Malaysia Life Insurance: No. of New Business Policy: Ordinary Life:WholeLife data was reported at 49,916.000 Unit in Dec 2017. This records an increase from the previous number of 25,977.000 Unit for Jun 2017. Malaysia Life Insurance: No. of New Business Policy: Ordinary Life:WholeLife data is updated semiannually, averaging 112,927.500 Unit from Jun 2009 (Median) to Dec 2017, with 18 observations. The data reached an all-time high of 267,429.000 Unit in Dec 2009 and a record low of 25,977.000 Unit in Jun 2017. Malaysia Life Insurance: No. of New Business Policy: Ordinary Life:WholeLife data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z023: Insurance Statistics: Life Insurance.

Graph and download economic data for Life Insurance Premium Volume to GDP for Malaysia (DDDI09MYA156NWDB) from 1990 to 2019 about premium, Malaysia, life, insurance, and GDP.

In 2023, the total premiums of new life insurance business in Malaysia amounted to approximately 13.36 billion Malaysian ringgit, an increase from around 11.98 billion Malaysian ringgit in 2022. Since the share of the population with a life insurance is still relatively low, the insurance industry in Malaysia still has a high growth potential.

Comprehensive dataset of 1,303 Life insurance agencies in Malaysia as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Graph and download economic data for Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Malaysia (MYSFCLOFILPXDC) from 2004 to 2023 about Malaysia, life, insurance, liabilities, deposits, financial, corporate, and services.

Life Insurance: Liabilities: Assets Revaluation Reserves data was reported at 6,710.900 MYR mn in Dec 2017. This records an increase from the previous number of 6,373.800 MYR mn for Jun 2017. Life Insurance: Liabilities: Assets Revaluation Reserves data is updated semiannually, averaging 5,084.800 MYR mn from Jun 2009 (Median) to Dec 2017, with 18 observations. The data reached an all-time high of 6,710.900 MYR mn in Dec 2017 and a record low of 2,027.500 MYR mn in Jun 2009. Life Insurance: Liabilities: Assets Revaluation Reserves data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z022: Insurance Statistics.

This dataset shows the Life Insurance Funds, 2010-2021. Footnote: Unless otherwise stated, data is as at calendar year end. Source: Bank Negara Malaysia (BNM).

In 2023, the total sums insured of new life insurance business in Malaysia amounted to around 544 billion Malaysian ringgit, an increase compared to the previous year. Since the share of the population with a life insurance is still relatively low, the insurance industry in Malaysia still has a high growth potential.

Forecast: Life Insurance Premium Expenditure in Malaysia 2024 - 2028 Discover more data with ReportLinker!

Life Insurance: Income data was reported at 49,638.300 MYR mn in Dec 2017. This records an increase from the previous number of 25,471.100 MYR mn for Jun 2017. Life Insurance: Income data is updated semiannually, averaging 27,569.500 MYR mn from Jun 2009 (Median) to Dec 2017, with 18 observations. The data reached an all-time high of 49,638.300 MYR mn in Dec 2017 and a record low of 13,957.100 MYR mn in Jun 2009. Life Insurance: Income data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.Z023: Insurance Statistics: Life Insurance.

In 2023, the total number of male insurance agents in Malaysia amounted to around 39,444 people. The job of a general insurance agent is to obtain insurance business from customers or prospects of the insurance company. To be a general insurance agent in Malaysia, candidates have to pass the Pre-Contract Examination for Insurance Agents (PCEIA), Part A & Part B. The examination is conducted by The Malaysian Insurance Institute (MII).