Total premiums in the insurance sector increased by 4.4% to RM61.3b, continuing its positive trend as insurers tap into the country's under-insured market. The second phase of the motor detariffication set to take effect on July 2017 will likely spur further rationalisation and possibly lead to margin compression as competition intensifies.  

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Tags:  insurance sector,  gross premiums,  detariffication,  Lloyd,  Bank Negara,  life insurance,  takaful