Insurance plans do an excellent job of providing financial stability in case of a major disaster, like an accident, health problems, and a lot more. If you live in Malaysia and are looking for the top insurance company here, our list of 10 of the best insurance providers in the country is sure to help you out.
If you are planning to buy an insurance in Malaysia, we have listed 10 of the best insurance companies in Malaysia here to help you out.
List of top insurance companies in Malaysia 2017
Here are the list of best insurance companies in Malaysia. There is no such ranking mechanism followed, this list is prepared as per the reputation and the business size of the insurance company and totally as per our personal opinion. You can also share your list of Top 10 Insurance Companies in Malaysia as per your preferred criteria by writing a comment below.
AmG Insurance Berhad
AmG Insurance Berhad was initially a part of general and life insurance operations of AmBank Group which now solely focuses on general insurance products. The company has an excellent distribution network throughout the country which includes more than 190 branches of AmBank and 19 branches of AmG Insurance. It has 2,900 agents and more than 1 million policyholders.
Berjaya Sompo Insurance
Incorporated as Berjaya General Insurance Berhad in 1974, the company changed its name to Berjaya Sompo Insurance after Sompo Japan Insurance Inc. purchased around 30% stake in the country. Sompo Japan is the 2nd largest insurance company in Japan which is currently focusing on establishing its presence in Asia. Berjaya Sompo currently has 22 branches in Malaysia and is very popular for its highly affordable custom insurance products.
MSIG Insurance Malaysia
MSIG Insurance Malaysia is part of MS&D Insurance Group which is a subsidiary of the world-renowned Mitsui Sumitomo Insurance Group of Japan. With an extensive network of 20 branches in Malaysia and thousands of agents, the company has turned into one of the most popular insurance providers in the country.
Chartis Malaysia Insurance
Incorporated in the year 1920 in Kuala Lumpur, Chartis Malaysia Insurance established itself as a local Malaysian insurance provider only in the year 2008. The company current has 16 branches throughout the nation and a strong network of 3,000 agents, staff and brokers. The company is a part of Chartis Insurance Group, a renowned name in the insurance world which caters to more than 70 million customers all over the world.
AXA Affin General Insurance Berhad
AXA is one of the most renowned insurance providers all over the world. This venture by the company along with Affin Holdings Berhad is currently one of the most common choices for people looking for affordable insurance products in the country. The company currently has more than 700 employees and 3,000+ agents spread across more than 20 branches in Malaysia.
Hong Leong Assurance Berhad
Incorporated in the year 1972 as Malaysia Pacific Insurance, the company changes its name to Hong Leong Assurance in 1973 when it started offering insurance products. HLA is now one of the most popular insurance providers in the country which majorly offers life insurance products and financial planning services.
Zurich Insurance Malaysia
Zurich Insurance Group is a popular insurance company throughout the world. In the year 2011, the company acquired Malaysian Assurance Alliance Berhad which resulted in the incorporation of Zurich Insurance Malaysia Berhad. The company is well-known for its extensive network of more than 1,000 employees, 3,000 general insurance agents, and 4,500 life insurance agents.
Tokio Marine Life Insurance Malaysia Berhad
With more than 130 years of experience in the industry, Tokio Marin Life is one of the oldest insurance providers globally. It has more than 60 years of experience in Asia and is the largest non-life insurance provider in Japan which has more than 17,000 employees and more than 45,000 agents.
AIA is the largest insurance provider in Asia. In Malaysia alone, the company has more than 24 branch offices and its multi-distribution system markets a comprehensive range of insurance products. While the cost of the products offered by AIA Berhad is slightly higher as compared to other companies, it is the quality of service offered by the company which sets it apart.
Great Eastern Life Assurance Malaysia
#1 on this list of top 10 insurance companies in Malaysia is Great Eastern Life Assurance Malaysia. The company has 20,000+ agents and more than 21 branches in Malaysia. With an experience of more than 100 years in the industry, the company is very popular for understanding the modern needs of the customers from insurance products and offers an extensive range of unique products to meet their demands.
Which one is the best Insurance Companies in Malaysia ?
This brings us to the end of this top 10 insurance companies in Malaysia post. No matter which company you select, make sure that you understand the benefits and features of an insurance product, its claim filing process, etc. before making a decision.
Write a comment below and share your experience to declare a company as best insurance company in Malaysia. You can also share your criteria to select an insurance company in Malaysia. I hope this article will help you to make your decision.