ILP TO DOM­I­NATE IN­SURANCE MAR­KET

Insurance - - INDUSTRY UPDATES -

Source: The Malaysian Re­serve, 19 Septem­ber 2013 Ac­cord­ing to Zurich In­surance Malaysia Bhd CEO Trevor Bull, in­vest­ment- linked prod­ucts (ILP) are ex­pected to dom­i­nate the in­surance mar­ket. This year, ILP prod­ucts hold about 51 per cent of the mar­ket for in­surance prod­ucts and are gain­ing more trac­tion while the tra­di­tional prod­ucts share is at 49 per cent. He re­marked that ILP is be­com­ing a trend this year as the end of last year there was a split be­tween the ILP prod­ucts and con­ven­tional prod­ucts. The gen­eral in­surance is grow­ing at 12 per cent for the same pe­riod.

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