This chapter includes the following articles.
Insurance
Malaysia’s insurance and takaful, or Islamic insurance, sector has recorded consistent growth in recent years. In 2015 total assets of both combined expanded by 5.6% to RM264bn ($65.3bn). Within the life insurance and family takaful sector, the growth of takaful contributions has been notable, accounting for almost 18% of new premiums and contributions. Insurance and takaful provide an important avenue for the public to save and invest, as well as a form of risk protection for events such as death, disability and retirement. The target penetration rate for insurance and family takaful policies is 75%. As of 2015 the penetration rate was 54.9%, while in 2014 it stood at 55.5%. This chapter contains an interview with Yen Saw, CEO, Tokio Marine Insurans.