Lonpac Insurance vs MSIG Malaysia

General insurer in the LPI Capital group, with a Contractor's All Risks product

Lonpac Insurance is the general insurance subsidiary of LPI Capital Bhd, whose shares trade on Bursa Malaysia. In October 2024 Public Bank agreed to buy a 44.15% stake in LPI Capital from the late founder's family, and its follow-on general offer lapsed in January 2025 below the 50% acceptance level, per The Star and The Edge. Lonpac lists Contractor's All Risks among its engineering and machinery covers for businesses.

Pros

• + Contractor's All Risks offered as a named business product
• + Parent LPI Capital is listed and reports its results publicly
• + Member of the General Insurance Association of Malaysia (PIAM)
• + Also writes business insurance in Singapore, through its own Singapore site

Cons

• − No published premium rates; quote required
• − The CAR web page gives little readable detail; ask for the Product Disclosure Sheet
• − No online purchase route for CAR found

Malaysian 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