The industry's next priorities include stepping up anti-fraud awareness work, embedding new distribution rules, advancing risk management reforms and preparing for future catastrophe events.
The plan also calls for expanded market-based reinsurance, stronger catastrophe protection, and greater technology investment across the agricultural insurance sector.
International reinsurers are expected to absorb over 93% of the proposed programme's THB75bn (US$2.27bn) exposure, with domestic carriers retaining only a small portion of the risk.
Regulatory reforms, increasing insurance penetration and demand for digital and catastrophe coverage are expected to drive growth in Malaysia's non-life insurance market.
The group combines a technology platform, a BMA-authorised management company and a Class 3 insurer, and updates investors on their insurance investments in near real time.
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