AM Best Affirms Stable Outlook for Malaysia's Non-Life Insurance Sector

AM Best maintains a stable outlook on Malaysia's non-life insurance sector, highlighting its strong positioning despite economic moderation. The positive outlook is supported by improved operating performance and robust risk-adjusted capitalization levels. The report also notes the sector's resilience driven by strong market leadership and continued support from major insurance groups like Starr Group. Additionally, the ratings agency underscores the importance of cybersecurity governance and innovation investments within the insurance industry to enhance operational efficiency and risk management. Malaysian insurers are advised to focus on strengthening systems, talent, and data practices to address evolving challenges and protection gaps in the market.