Kota Kinabalu: The General Insurance Association of Malaysia or Persatuan Insurans Am Malaysia (PIAM) said Malaysia’s general insurance industry posted RM1.2 billion underwriting profit last year.
PIAM CEO Chua Kim Soon revealed this at a media briefing on Tuesday at the Kota Kinabalu Hilton hotel where he welcomed a representative from Universiti Malaysia Sabah (UMS) in an effort to get more UMS graduates to venture into the insurance industry.
As of April 30, 2026, the total number of registered general insurance agents is 40,102, and Chua said they are looking for more talents to join the industry.
In collaboration with Financial Industry Collective Outreach (Finco), the industry continues to support schools and communities in disaster-prone areas through preparedness guidance, financial protection awareness, and resilience-building initiatives.
Chua pointed out that East Malaysia data reveals lower motor loss ratios, rising fire claim severity, and a persistent flood protection gap in a region where claims are fewer but costlier.
“Malaysia’s general insurance industry recorded Gross Written Premium(GWP) of RM24.2 billion in 2025, a 4.8 per cent increase from RM23.1 billion in 2024.
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“More significantly, the industry’s underwriting profit reached RM1.2 billion, an improvement of RM125 million year-on-year, with the overall Combined Ratio for underwriting results remaining around 93 per cent.
“Motor insurance, which remains the general insurance industry’s largest line of business at 45.2 per cent of total premiums, continued to register underwriting losses of RM 289.3 million, with a Combined Ratio remaining at 103 per cent.
“Non-motor business lines, particularly Fire, Marine, Aviation & Transit (MAT) and Personal Accident (PA), contributed positively to the overall underwriting result.
“Fire insurance recorded an underwriting profit of RM700.8 million or a Combined Ratio of 69.5 per cent.
“The improvement in the general insurance industry’s underwriting performance is an operational milestone and reflects the sector’s ability to absorb rising claims costs while continuing to protect millions of policyholders,” Chua said.
“As we strengthen industry resilience, our focus remains on building a well-insured nation, ensuring a faster recovery for Malaysians with their assets, livelihoods and operations safeguarded through the support of our insurers and reinsurers.”
Chua said the combined performance of Motor, Fire and PA insurance lines collectively contributed to 6.1 per cent growth in premiums for the general insurance industry in 2025.
