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  

General Insurance Industry

July 2010

Exhibit 1: Premium Collections and Claims Incurred

Source: General Insurance Association of Malaysia (PIAM), MARC

Dec-09

Dec-08

Dec-07

Dec-06

Dec-05

9.7

9.8

9.8

9.4

9.1

61.5 21.3 92.5 7.5

65.5 22.5 97.8 2.2

66.6 23.8 100.2 (0.2)

60.9 23.4 93.7 6.3

55.9 22.9 87.9 12.1

Nevertheless, underwriting results improved thanks to lower claims and improved efficiency

Despite the lower growth in premiums, the underwriting results of the industry improved in 2009 to record an underwriting surplus of 7.5% of earned premiums (2008: 2.2%). This was enabled by a lower claim ratio and increased insurers’ efficiency, as reflected by a lower management expense ratio. The main sectors, i.e. motor, fire and MAT, showed better results, with loss ratios improving to 80.0%, 26.0% and 31.2% from 82.7%, 30.7% and 50.0% respectively a year ago.

Exhibit 2: Key Performance Indicators (%)

Breakdown

Net commission ratio

Claim ratio

Management expense ratio

Combined ratio

Underwriting surplus

Source: PIAM

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