Top 10’s Top Insurance Companies in Malaysia

Insurance companies have been operating in the country for decades,serving the needs of all and sundry. Top 10 of Malaysia looks at some of the country’s leading life and general insurers (presented in no particular order).

LIFE INSURANCE

Great Eastern Life Assurance (Malaysia) Berhad

The company’s tagline, ‘Life is Great!’ aptly reflects its ambition for continuous growth. Great Eastern currently employs more than 21,000 agents and has 21 operational branches in the country alone. Today, Great Eastern benefits from a wide network across South-East Asia – one which covers neighbouring countries: Singapore, Brunei and Indonesia as well as China and Vietnam. It is also the largest life insurance company in Singapore.

American InternationalAssurance (AIA) Berhad

AIA Berhad is the largest independent listed pan-Asia life insurance group in the world. In Malaysia, the insurer boasts a network of 23 branches and markets a portfolio of life insurance products via a multi-distribution system.

Allianz Life Insurance Malaysia Berhad

Allianz Life Insurance Malaysia Berhad (Allianz Life) offers a comprehensive range of life and health insurance and investment-linked products. Allianz Life has been recorded as one of the fastest growing life insurers in Malaysia and continues to show strong growth with RM621.6 million in GWP for the first six months of 2012, increasing by 12.5% since last year.

Prudential Assurance Malaysia Berhad

Prudential Assurance Malaysia Berhad (PAMB) is part of Prudential plc of the United Kingdom and was established in Malaysia in 1924.Currently it has the backing of some1,300 employees and over 13,000 agents and wealth planners to offer its full range of financial solutions through 43 branches nationwide

Mayban Life Assurance Berhad

Mayban Life Assurance Berhad(Mayban Life) is the life insurance subsidiary of Maybank which started operations in 1993. The absence of an agency force sets Mayban Life apart from the rest. Its products are not distributed by life agents,but by trained specialists located in Maybank branches throughout Malaysia. Mayban Life customises its life insurance schemes exclusively for Malaysians from all walks of life and that incudes financial planning for children’s education, retirement,protection and investment schemes.

Tokio Marine Life Insurance Malaysia Berhad

Tokio Marine Life is the preferred life insurer with over 130 years of global experience and over 60 years of local presence in delivering solid propositions to their customers through its products and services.Tokio Marine Life is a member of Tokio Marine and Nichido Fire Insurance Co., Ltd, the oldest and largest non-life insurance company in Japan with more than17,000 employees, 46,000 agents and operates in 446 cities over 39 countries* worldwide. It is has a credit rating** of AA- by Standard & Poor’s, Aa3 by Moody’s and A++ by A.M. Best.

Zurich Insurance Malaysia Berhad

Zurich Insurance Malaysia Berhad was born when Zurich Insurance Group acquired Malaysian Assurance Alliance Berhad from MAA Holdings in 2011. Acquiring a wealth of talent, the company is powered by an employee base of more than 1,000 people, excluding 4,500 life agents and 3,000 general insurance agents.

Manulife Malaysia

Manulife Malaysia has long enjoyed a presence in Malaysia,albeit under different names.Having first been established as a branch of Bahamas-based British American Insurance Co, it went on to become British American(Malaysia) Insurance Berhad and later, John Hancock Life Insurance Berhad before becoming Manulife Malaysia as it is known today.Currently, the company serves its customers through its 1,900 agents and 50 branches spread across the Peninsular and East Malaysia.

Hong Leong Assurance Berhad

Hong Leong Assurance Berhad (HLA) has been operating in Malaysia as a general insurance company under the name, Malaysia Pacific Insurance Berhad in 1972 but only added the life insurance business into its range of products and services a year later. HLA today is one of Malaysia’s leading domestic brands for financial planning and protection solutions, specialising in Life Insurance products and services