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Malaysia will review the order on foreign companies in the insurance market

The Malaysian regulator intends to review the rule limiting the presence of foreign companies in the country's insurance market.
Malaysia will review the order on foreign companies in the insurance market

Ukr Insurance knows from the Reuters report that the point of the restriction was the inability for foreign companies to own more than 70% of the insurers' shares. However, the Malaysian authorities are likely to postpone the implementation of this norm, since there are not enough investors in the domestic market.

This decision will be good news for several large foreign companies: AIA, AIG, Great Eastern, Tokio Marine, Prudential and Zurich Insurance. The mentioned insurers are under pressure, forced to sell almost a third of their shares in order to comply with regulatory rules.

In recent years, foreign insurers have intensified their activities in Malaysia and other countries of Southeast Asia, as the economic growth has been observed in the region, people’s incomes are growing and insurance coverage level is low.

Source: https://www.ukrstrahovanie.com.ua/news/malayziya-peresmotrit-direktivu-po-inostrannyim-kompaniyam-na-strahovom-ryinke

Photos per websites: ptsagency.ru, tourister.ru.

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