Business insurance · Malaysia · Head-to-head
Allianz General Malaysia vs MSIG Malaysia
Two Malaysia business insurance options, compared side by side for Malaysia trades.
Which should you choose?
Allianz General Malaysia and MSIG Malaysia are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and Malaysia-specific notes below against your trade and region.
Allianz General Malaysia
Tier A · ListedContractors' All Risks cover from the Malaysian arm of the Allianz Group
Allianz General Insurance Company (Malaysia) Berhad is a wholly owned subsidiary of Allianz Malaysia Berhad, which is listed on Bursa Malaysia; the Allianz Group became the controlling shareholder in 2001. Its Contractors' All Risks policy covers damage to the contract works and third-party liability for the contract period. It is sold through agents and brokers or by contacting Allianz, which lists 30 branches nationwide.
Pros
- + One policy covers material damage to the works and third-party liability
- + Optional cover for construction plant, machinery, debris removal, professional fees and the principal's existing property
- + Product Disclosure Sheets and proposal form downloadable in English and Malay
- + 30 branches nationwide, per Allianz Malaysia
Cons
- − No published premium rates; priced after a proposal form
- − No online purchase for CAR: through an agent, a broker or Allianz's contact form
- − Cover is written per contract, for the period in the Letter of Award
Malaysia note
Allianz says its CAR cover runs for the contract period in the Letter of Award, with optional extensions for construction plant and equipment, machinery, debris removal, professional fees and the principal's existing property. Allianz Malaysia states it is a PIDM member.
MSIG Malaysia
Tier A · ListedMalaysian general insurer owned by Mitsui Sumitomo Insurance (MS&AD group)
MSIG Insurance (Malaysia) Bhd is a Kuala Lumpur-based general insurer licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. It describes itself as a subsidiary of Mitsui Sumitomo Insurance and part of Japan's MS&AD group, and says it writes fire, engineering and motor business. Its current website lists fire, marine, cyber and SME package cover for businesses, but no Contractors' All Risks page was found.
Pros
- + Subsidiary of Mitsui Sumitomo Insurance, part of Japan's MS&AD group, per MSIG
- + Writes engineering insurance, per its own company profile
- + Business products checked have Product Disclosure Sheets in English and Malay
Cons
- − No Contractors' All Risks page found on its current website
- − No published premium rates for commercial cover
- − CAR wording and extensions not available online; ask an agent or broker
Malaysia note
Licensed under Malaysia's Financial Services Act 2013 and regulated by Bank Negara Malaysia; its site links PIDM's TIPS brochure. MSIG's earlier Contractors' All Risks page (under 'Other Commercial Insurance') now returns an error, so confirm the product with an agent or broker.
More Malaysia options
See all Malaysia business insurance vendors and the rest of the Malaysia directory.