Top 10 Life Insurance Companies in Malaysia 2022

Contracts involving life insurance require the policyholder to give an insurance firm recurring premium payments.


Insurance companies pay death benefits to the contract’s beneficiaries when a policyholder passes away.

If you support someone else financially, having life insurance is a need.


Unfortunately, many people do not have the appropriate level or type of life insurance.

The price of life insurance is less than you might imagine, in contrast to popular opinion.

Some individuals believe the average life insurance cost is five times higher than it is.

A reputable life insurance provider can assist you in obtaining the coverage you require to replace your income, pay off debts, or cover expenses your family will incur.

They might assist you, for instance, in paying for your child’s school or taking care of your old parents.

Make the life insurance process much simpler by researching and ranking the best insurance providers.

The grade is based on some variables, including cost, customer service, and financial stability.

life insurance companies in Malaysia

According to our analysis, the following firms are the top 10 life insurance companies in Malaysia for 2022.

Malaysian Manulife

Although the Manulife brand may be relatively new and recent in Malaysia, it has a long history of previous identities that underwent numerous branding and rebranding attempts.

Manulife Malaysia first entered the nation in 1963 as an affiliate of the British American Insurance Co. of the Bahamas.

Many people may be familiar with the former British American John Hancock Life Insurance.

Today, it has expanded under the Manulife brand, offering Malaysians one of the greatest life insurance packages through a solid network of agents around the nation.

Assurance Mayban Life

The Maybank subsidiary has a particular business plan.

In contrast to other life insurance providers, Mayban Life Assurance uses the Maybank branch network and its experts to conduct business.

This indicates that the Maybank company has one of the biggest networks in Malaysia.

This company also sells other wealth management solutions in addition to life insurance.

Insurance AXA

As a part of one of the top financial institutions in the world, AXA Insurance strives to offer you high-quality financial solutions and assistance at every stage of your life.

AXA is dedicated to assisting its clients in realizing their goals and enjoying life to the fullest without worrying about money.

To fulfill your needs for Personal (Motor, Health, Home, Travel, etc.) and Business Insurance, AXA Insurance offers a wide variety of Smart products.

Malaysian Prudential Assurance

Prudential is presumably one of Malaysia’s oldest life insurance companies.

It is one of the oldest insurance businesses in Malaysia and is a subsidiary of the United Kingdom corporation.

It employs more than a thousand people and has more than 10,000 agents nationwide.

East Asian Life Insurance (Malaysia)

It is one of the most well-known brands in the life insurance industry and has one of the broadest networks.

Greater Eastern currently employs over 20,000 people across the nation.

Since the company’s inception, life insurance has been one of Great Eastern’s best-selling offerings.

International American Assurance (AIA)

The AIA has been around for a while.

Its core product, life insurance, is available nationally through its tens of locations; the company’s headquarters are in Kuala Lumpur.

Malaysian Allianz Life Insurance

One of its main products is Allianz Life Insurance, while it also provides other investment-related products.

Allianz was one of Malaysia’s most rapidly expanding life insurance companies in 2012 and continues to expand.

Tokio Marine Life Insurance

Tokia Marine is from Japan and has a history reaching back more than 100 years.

It has been operating in Malaysia for over 60 years and is considered one of the world’s most reliable life insurers.

It was TM Asia Life Malaysia Berhad before it changed its name to Tokio Marine Life Insurance Malaysia.

With the development of the strategic alliance between Tokio Marine & Nichido Fire Insurance Co., Ltd. and Asia General Holdings, the parent company of TM Asia Life, the name was made official in 2007.

It has had outstanding success as an independent life insurance provider, winning the 2014–2015 BrandLaureate Award for Best Brand in Life Insurance in Malaysia.

Assurance by Hong Leong

Another company that runs under the auspices of a bank is this one.

Formerly known as Malaysia Pacific Insurance, it can offer life insurance products to its clients from all walks of life across the nation by capitalizing on the success of its banking operation.

This is carried out through nationwide direct agents in addition to Hong Leong Bank locations.

The largest life insurance provider in the nation today, Hong Leong Assurance Berhad, is a subsidiary of HLA Holdings Sdn Bhd, owned by Hong Leong Financial Group Berhad.

Hong Leong Assurance offers life insurance packages for customers at different stages of life.

By Asian Banking and Finance in 2016, Hong Leong Assurance was named Malaysia’s Domestic Life Insurer of the Year.

The Etiqa Insurance Berhad

Following the merging of Maybank Ageas and the Malaysia National Insurance Berhad in 2005, the company adopted the name Etiqa.

The former, formerly known as Mayban Ageas, is Maybank’s division for insurance and takaful, whereas the latter is the most prominent national insurer in the nation.

In the transaction, Takaful Nasional Sdn Bhd was also included.

They needed around two years to establish themselves as one of Malaysia’s leading corporate insurers, earning the support of prestigious businesses like Malaysia Airlines and the Petronas Twin Towers, to mention a couple.

A variety of life and general insurance products are available from Etiqa through its network of more than 15,000 agent locations nationwide and Maybank branches.

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Through its goods and services, the life insurance firms in the Malaysian sector significantly contribute to creating a sustainable company organization.

Similarly, Malaysia’s insurance industry has made major contributions to the nation’s economic growth throughout the past few decades.

Providing insurance against risk uncertainties for society and commercial organizations raises society’s standard of living and confidence to meet society’s challenges and opportunities.


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