Between 2013 and 2023, General Insurance Premium Expenditure in Malaysia has shown fluctuating but generally positive growth. In 2023, the premium expenditure stood at 620.05 Million Malaysian Ringgits. The year-on-year variation has seen highs such as a 6.93% increase in 2022 and lows like a -3.38% drop in 2020. Overall, the last 5-year CAGR from 2018 to 2023 averaged at 1.65%.
Looking forward, the forecast indicates a steady increase with an average 5-year CAGR of 1.21%, leading to an estimated value of 667.12 Million Malaysian Ringgits by 2028. Future trends to watch for include regulatory changes, technological advancements, and evolving consumer preferences, which may impact the growth trajectory and market dynamics.
