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Malaysia: General insurance sector's gross premiums up 6.4% in 2013


Malaysia's general insurance sector registered a 6.4% year-on-year increase in gross written premiums to 16.2 billion Malaysian ringgit ($4.93 billion) in 2013, Bernama reported.

Fire insurance increased 8.6% to MYR 2.79 billion ($849.8 million).

The General Insurance Association of Malaysia said ongoing mega projects and heightened awareness of business risks were among the factors contributing to the growth.

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