Upcoming capital reforms and tighter underwriting discipline should support earnings stability, although volatility is likely to persist in the near term.
Regulatory reforms, increasing insurance penetration and demand for digital and catastrophe coverage are expected to drive growth in Malaysia's non-life insurance market.
Strong underwriting results and investment income are expected to keep returns resilient despite growing competition, casualty reserve uncertainty and elevated catastrophe risk.
Commercial lines and higher sums insured are supporting premium growth, while conservative asset allocation is helping insurers absorb equity-market volatility.
The Pakistani non-life insurer generated positive underwriting and investment results, producing a 16.3% weighted average return on equity between 2021 and 2025.
Risk-adjusted capitalisation is expected to remain at its strongest level, but the agency noted that volatile cover and a small net premium base have kept underwriting profitability subdued over the past...
