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Fitch: Malaysian insurance sector likely to consolidate further

December 10, 2013 - 6:00am

Fitch Ratings Inc. said Malaysia's general insurance sector and takaful sector are likely to see more consolidations because of the enactment of new insurance regulations and a takaful capital regime, The Star reported.

Under the new rules, composite insurers have to separate their life and nonlife businesses. A risk-based capital regime has been introduced for the takaful sector. Fitch said "composite insurers and takaful operators are likely to dispose of parts of their insurance operations."

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