Flood insurance lacks demand in a market where capacity is sufficient

Insured losses arising from the Great Malaysian Flood in December 2021 could amount to approximately MYR1.5bn ($342m) to MYR2bn, according to an assessment by Malaysia Reinsurance, says Mr Zainudin Ishak, president & CEO of the reinsurer.

The insured losses could be roughly 20%–30% of the economic loss of MYR 5.3bn to MYR6.5 bn estimated by the Department of…