Bank Negara Malaysia, the Malaysian regulator is looking to liberalise both the life and general insurance markets in the near term. At the same time, more requirements are being imposed by the regulator ahead of the anticipated liberalisation. Could liberalisation paradoxically create greater constraints on the industry? In this article, we highlighted the recent regulatory / market developments as well as anticipated implications in the Malaysian insurance industry.
Wan Saifulrizal Wan Ismail, Director, Insurance Consulting, Towers Watson Malaysia