Top Insurance Companies in Malaysia


Insurance companies have been operating in the country for decades,serving the needs of all and sundry. Top 10 of Malaysia looks at some of the country’s leading life and general insurers (presented in no particular order).



Great Eastern Life Assurance (Malaysia) Berhad

The company’s tagline, ‘Life is Great!’ aptly reflects its ambition for continuous growth. Great Eastern currently employs more than 21,000 agents and has 21 operational branches in the country alone. Today, Great Eastern benefits from a wide network across South-East Asia – one which covers neighbouring countries: Singapore, Brunei and Indonesia as well as China and Vietnam. It is also the largest life insurance company in Singapore.

American InternationalAssurance (AIA) Berhad

AIA Berhad is the largest independent listed pan-Asia life insurance group in the world. In Malaysia, the insurer boasts a network of 23 branches and markets a portfolio of life insurance products via a multi-distribution system.

Allianz Life Insurance Malaysia Berhad

Allianz Life Insurance Malaysia Berhad (Allianz Life) offers a comprehensive range of life and health insurance and investment-linked products. Allianz Life has been recorded as one of the fastest growing life insurers in Malaysia and continues to show strong growth with RM621.6 million in GWP for the first six months of 2012, increasing by 12.5% since last year.

Prudential Assurance Malaysia Berhad

Prudential Assurance Malaysia Berhad (PAMB) is part of Prudential plc of the United Kingdom and was established in Malaysia in 1924.Currently it has the backing of some1,300 employees and over 13,000 agents and wealth planners to offer its full range of financial solutions through 43 branches nationwide

Mayban Life Assurance Berhad

Mayban Life Assurance Berhad(Mayban Life) is the life insurance subsidiary of Maybank which started operations in 1993. The absence of an agency force sets Mayban Life apart from the rest. Its products are not distributed by life agents,but by trained specialists located in Maybank branches throughout Malaysia. Mayban Life customises its life insurance schemes exclusively for Malaysians from all walks of life and that incudes financial planning for children’s education, retirement,protection and investment schemes.

Tokio Marine Life Insurance Malaysia Berhad

Tokio Marine Life is the preferred life insurer with over 130 years of global experience and over 60 years of local presence in delivering solid propositions to their customers through its products and services.Tokio Marine Life is a member of Tokio Marine and Nichido Fire Insurance Co., Ltd, the oldest and largest non-life insurance company in Japan with more than17,000 employees, 46,000 agents and operates in 446 cities over 39 countries* worldwide. It is has a credit rating** of AA- by Standard & Poor’s, Aa3 by Moody’s and A++ by A.M. Best.

Zurich Insurance Malaysia Berhad

Zurich Insurance Malaysia Berhad was born when Zurich Insurance Group acquired Malaysian Assurance Alliance Berhad from MAA Holdings in 2011. Acquiring a wealth of talent, the company is powered by an employee base of more than 1,000 people, excluding 4,500 life agents and 3,000 general insurance agents.

Manulife Malaysia

Manulife Malaysia has long enjoyed a presence in Malaysia,albeit under different names.Having first been established as a branch of Bahamas-based British American Insurance Co, it went on to become British American(Malaysia) Insurance Berhad and later, John Hancock Life Insurance Berhad before becoming Manulife Malaysia as it is known today.Currently, the company serves its customers through its 1,900 agents and 50 branches spread across the Peninsular and East Malaysia.

Hong Leong Assurance Berhad

Hong Leong Assurance Berhad (HLA) has been operating in Malaysia as a general insurance company under the name, Malaysia Pacific Insurance Berhad in 1972 but only added the life insurance business into its range of products and services a year later. HLA today is one of Malaysia’s leading domestic brands for financial planning and protection solutions, specialising in Life Insurance products and services

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Kurnia Insurans (Malaysia) Berhad

Kurnia Insurans has grown to become one of the leading general insurers in the country and region. A part from having a well-recognised brand, a solid foot holdin the motor insurance sector and gross premiums exceeding the RM1 billionmark, Kurnia Insurans also features an impressive network which consists of a workforce of 1,200 employees and 30 branches across Malaysia. The company also runs operations in neighbouring Thailand and Indonesia.

Allianz General Insurance Company (Malaysia)

Berhad Allianz General Insurance Company (Malaysia) Berhad (“Allianz General”) is the leading general insurer in Malaysia and has a broad spectrum of services in personal lines; small to medium enterprise business and large industrial risks. Allianz General recorded RM852.5million in GWP for the first six months of 2012. This is an increase by 14.2% as compared to RM746.7 million in 2011.

Etiqa Insurance Berhad

Etiqa Insurance Berhad was the result of the merger between Malaysia National Insurance (MNI) Berhad and Takaful Nasional Sdn Berhad.Functioning as the insurance and Takaful arm of Maybank Group. Etiqa Insurance Berhad today is the longest Takaful operator in Malaysia with a 2,000-strong employee force and is a true multi-channel distributor of insurance and Takaful products via its 23,000 agency force, 30 Insurance and Takaful branches, more than 450 Maybank branches, ATMs andother third-party banks, providing full accessibility and total convenience to customers

MSIG Insurance (Malaysia) Berhad

MSIG, a member of MS&AD Insurance Group is a subsidiary of Mitsui Sumitomo Insurance Group.MSIG has become one of the largest general insurers in Malaysia with a nationwide network of 20 branches. It has a multi-channel distribution network established in partnerships with agents,brokers, motor franchise, local and Japanese corporate clients as well as partnership programmes with financial institutions.

Chartis Malaysia Insurance Berhad

Chartis Malaysia Insurance Berhad’s presence in Malaysia can be traced back to the 1920 in Kuala Lumpur and it became a locally incorporated Malaysian insurance company in 2008. Today, the company provides its services to businesses and individuals via its 16 offices nationwide making use of a network of more than 3,000 professional agents, brokers and staff. It is part of the Chartis Group, one of the world’s leading general insurers that serves more than 70 million clients worldwide and has one of the industry’s most extensive range of products and services, deep claims expertise and excellent financial strength.

Berjaya Sompo Insurance

Berhad Berjaya Sompo Insurance Berhad,previously known as Berjaya General Insurance Berhad, beganits operations in Malaysia in 1974. It became known as Berjaya Sompo Insurance Berhad after Sompo Japan Insurance Inc – Japan’ssecond largest insurance company– purchased a 30% equity stake inthe company from Berjaya Capital Berhad. Sompo Japan Insurance Inc has 41 offices and subsidiaries in 27 countries. Currently, Berjaya Sompo has a network of 22 offices in Malaysia providing a wealth of experience and expertise to policyholders.

Uni.Asia General Insurance Berhad

Uni.Asia General Insurance Berhad was the brainchild of a strategic partnership between DRB-HICOM Berhad and United Overseas Bank Group. DRB-HICOM is one of the largest integrated groups in Malaysia and has contributed significantly to the region’s industrialisation.The United Overseas Bank (UOB) Group was founded in 1935 and United Overseas Bank (Malaysia)Berhad was incorporated in 1993.It is a subsidiary of United Overseas Bank Limited (UOB), a leading bankin Singapore with an international network comprising 385 offices in18 countries and territories in Asia Pacific, Western Europe and North America. It is their mission to see Uni.Asia General grow into a leading force in the general insurance industry.

AmG Insurance Berhad

Formerly part of the composite insurance (life and general) operation of AmBank Group, AmG Insurance Berhad is a general insurer which carries the Am Assurance brand. It leverages on an extensive distribution network which consists of the AmBank Group’s 190 bank branches, 19 AmAssurance branches plus 2,900 agents who provide the services forthe insurer’s one million policy holders.

MCIS Zurich Insurance Berhad

The merger between MCIS Insurance and Zurich Malaysia a decade ago culminated in a strategic and synergic amal gamation that is complemented by decades of local knowledge and strong global links. Currently, MCIS Zurich boasts a total of 400,000 policy holders in the country and has assets in excess of RM3 billion with a solid record for good corporate governance.

AXA Affin General Insurance Berhad

Born of a joint venture between AXA Group and Affin Holdings Berhad – the former being a long-serving leader in the local finance services industry – AXA Affin General Insurance Berhad has earned its keep as one of Malaysia’s most profitable insurance providers. The company employs 3,000 agents and 700 employees, spread across 21 branches nationwide to serve its 300,000 policy holders. It also provides services in formulating comprehensive plans specially designed for SME businesses as well as providing insurance services in specialist fields such as Marine and Trade Credit Insurance.


Source Top10Malaysia

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