Commercial Non-Life Insurance Brokers in Malaysia plus the BrokerBASE™ and market data file that accompany it investigate the importance of brokers in the distribution of non-life insurance for businesses in Malaysia. This report first provides unique data for the size, segmentation and growth of the Malaysian commercial non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research of all significant broking entities, it ranks the leading 20 brokers in Malaysia according to their revenues from commercial non-life insurance, excluding income from other activities such as personal lines and employee benefits.
This report provides unique data in the following areas:
- the value of commercial non-life insurance markets for 2010 to 2014;
- the share of this market distributed by brokers in 2010 and 2014;
- the revenues generated by commercial non-life insurance business for brokers in 2010 and 2014;
- the concentration of the market for commercial non-life insurance broking in 2014;
- forecasts for 2018 for the value of commercial non-life insurance premiums, brokers' share of this market and their revenues from commercial non-life insurance business.
Moreover, the report, BrokerBASE™ and market data file can be used in one or more of the following ways:
- to quantify the size and dynamism of the broker market for commercial non-life insurance in Malaysia;
- to utilise a single comprehensive source of information that uses a uniform methodology to size the underlying commercial non-life insurance market and to quantify brokers' share of distribution;
- to assess a range of potential business opportunities: from selecting targets for acquisition to niche product development and ideas for distribution partnerships;
- to understand the competitive landscape in Malaysia through its market concentration, the importance of international brokers, and brokers' distribution strategies;
- to identify the leading brokers in Malaysia, with coverage of competitors such as Aon, JLT, Marsh, Tradewinds International Insurance Brokers and Willis.
Table of Contents
0.0 EXECUTIVE SUMMARY
- What is this report about?
- The focus is uniquely on commercial non-life insurance, excluding other types of business...
- ...and on brokerage, even where intermediaries can act as both agents and brokers
- Research program
- Market data analysis
- Exchange rate
2.0 MARKET ANALYSIS
- Regulatory information
- Insurance intermediaries are regulated by the Bank Negara Malaysia (BNM)
- Changes in ownership of brokers require the prior written approval of the BNM
- Commercial non-life insurance market
- Around 40% of the commercial lines insurance market is composed of commercial motor insurance...
- ... with MAT the next largest segment...
- ... although premiums for commercial liability insurance have been growing most rapidly
- Commercial non-life insurance brokers
- Overview of brokers' presence in the distribution of commercial non-life insurance
- In commercial lines, the distribution share of brokers is not far behind that of agents
- Competitor trends and specialisms
- The top ten brokers account for around 70% of the commercial lines broking market in Malaysia...
- ... with Aon, JLT and Marsh all having been active in the country for several decades
- JLT boosted its presence by purchasing Insfield Insurance Brokers in 2013
- Tradewinds International Insurance Brokers is the largest indigenous broker in Malaysia
- Both Lockton and Willis operate through brokerages in which they have partial ownership stakes
- Howden Broking Group acquired a stake in CIMB Insurance Brokers in January 2015
- Commercial non-life insurance is the most important source of revenue for all of the top 20 brokers...
- ... with one generating upwards of 95% of its total revenues from this activity
- Brokers' distribution strategies
- A handful of the top 20 brokers have product or client sector specialisations...
- ... and five belong to international broker networks
- Future outlook
- Compound annual growth of 3.3% in real terms is predicted for the Malaysian commercial lines market
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
- Key market data for commercial non-life insurance brokers in Malaysia
2.0 MARKET ANALYSIS
- Segmentation of the commercial non-life insurance market in the Malaysia, 2014
- Growth in the commercial non-life insurance market in the Malaysia by segment, 2010 to 2014
- Size and growth of the commercial non-life insurance market in Malaysia by segment, 2010 to 2014 (table)
- Brokers' share of the commercial non-life insurance market and revenues earned from it in Malaysia, 2010 and 2014
- Brokers' share of the commercial non-life insurance market and revenues earned from it in the Malaysia, 2010 and 2014 (table)
- Market concentration for commercial non-life insurance broking in the Malaysia, 2014
- Market shares of commercial non-life insurance broking revenues of the top ten brokers in Malaysia, 2014
- Importance of different types of insurance broking for the top 15 commercial non-life insurance brokers in the Malaysia
- Partners of broker networks in the Malaysia, 2014
- Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in the Malaysia, 2018
- Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in the Malaysia, 2018 (table)