Insurance sector may grow 4% to 5% in 2016

MSIG Insurance (Malaysia) Bhd Chief Executive Officer Chua Seck Guan

KUALA LUMPUR: The insurance industry is projected to grow by 4% to 5% in 2016, said MSIG Insurance (M) Bhd chief executive officer Chua Seck Guan (pic).

“In terms of growth percentage, we used to plan for 6% to 8% growth on a good year but then, moving forward, we had to change our figures due to the impact of the goods and services tax, weakened currency and the dampening market,” he told Bernama in an interview.