General insurance premiums up 10% in Malaysia

Data from the General Insurance Association of Malaysia showed that sector’s gross direct premiums increased by 10% year-on-year to 19.4 billion Malaysian ringgit ($4.4 billion) in 2022, Asia Insurance Review reported. Fire premiums grew 6% year-on-year to MYR3.82 billion while underwriting margins increased to 39% on the back of improved claims experience.