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International

Fitch: Malaysian insurance sector likely to consolidate further

December 10, 2013 Reprints

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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Fitch: Malaysian insurance sector likely to consolidate further

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