Malaysia Insurance Brokerage Market is projected to grow at a CAGR of 9.3% from 2025-2031F

Retail brokerage segment by Brokerage Type held the highest revenue share in Malaysia Insurance Brokerage Market -6Wresearch

Retail brokerage led by brokerage type in Malaysia’s insurance brokerage market due to strong consumer demand for personal and SME insurance products, widespread digital distribution channels, and enhanced broker advisory services. Recurring revenue comes from frequent policy renewals, cross‑selling opportunities, and customer loyalty. Regulatory support for digital insurance platforms and increased financial literacy further drive retail broker sales and market share growth.

According to 6Wresearch, Malaysia Insurance Brokerage Market is projected to grow at a CAGR of 9.3% from 2025-2031F. Between 2021 and 2024, the global insurance brokerage market experienced sustained growth, driven by rising demand for comprehensive risk management and reinsurance solutions. The global reinsurance market expanded significantly, with gross reinsurance premiums, reflecting increased adoption of risk transfer mechanisms across industries and geographies.

This growth was supported by a rebound in global economic activity, higher corporate risk exposure, and the growing complexity of insurance products, which in turn increased reliance on brokerage services for advisory, placement, and claims management. The market is expected to maintain its upward trajectory, with continued demand for specialised advisory services, risk management expertise, and reinsurance solutions, positioning insurance brokers as critical intermediaries in a rapidly evolving global risk landscape.

Looking ahead, from 2025 to 2031, the Global insurance brokerage market is expected to transition from recovery to sustained expansion, supported by rising population and increasing demand for insurance across both individual and corporate segments. Growth would be driven by heightened awareness of hazardous risks and uncertainty, along with the expansion of the healthcare and financial industries.

The World Bank’s ambitious plan to support countries to deliver quality, affordable health services to people by 2030 would further elevate demand for life and health insurance, positioning the market for robust, long-term growth. Additionally, the increasing adoption of digital technologies and data-driven risk management tools is creating new opportunities for specialized insurance products and brokerage services.

According to Sumit, Senior Research Analyst, 6Wresearch, life and health insurance led revenue share in Malaysia’s insurance brokerage market due to heightened consumer demand for protection products, greater awareness of policy benefits, and expanding bancassurance and digital distribution channels. Recurring demand is driven by frequent policy renewals, rising health cost concerns, and asset protection needs. Government and regulatory initiatives promoting financial inclusion and digitalisation further boost broker sales and market growth.

Malaysia Insurance Brokerage Market (2025-2031) report provides an in-depth analysis with 16 figures and 4 tables, covered in 69 pages. The report thoroughly covers the market by insurance type, brokerage type and end user. The Malaysia Insurance Brokerage Market outlook report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.