The net premium of liability insurance in Malaysia, expressed in million Malaysian Ringgits, demonstrated some volatility from 2013 to 2023. The value stood at 262.59 in 2023.
Year-on-year variation for 2022 and 2023 indicates a steady upward trend, with 2022 recording a 6.37% increase and 2023 following with 1.02%. The compound annual growth rate (CAGR) over the last five years was 1.08%, suggesting modest growth in the sector.
Looking ahead, forecasted data from 2024 to 2028 suggests a continued but gradual increase, with a 5-year CAGR of 0.82% and a total forecasted growth rate of 4.19% over the period.
Future trends to watch for include potential impacts from regulatory changes, technological advancements in underwriting, and macroeconomic factors that could influence demand for liability insurance in Malaysia.
