Page 71 - LIAM Annual Report 2021

AnnuAl RepoRt 2021 69

PERFoRmancE oF thE liFE insuRancE industRy
liFE insuRancE BusinEss

new Business – new Policies

Type January to December
2020 2021 growth
Traditional 583,657 1,165,423 99.7
Investment-Linked 618,884 691,327 11.7

group 19,505 19,502 0.0
Total 1,222,046 1,876,252 53.5

total BusinEss in FoRcE

The total in force premiums rose to RM46.8 billion, an increase of 8%, in 2021 as compared to RM43.4 billion in 2020. Investment-
linked policies registered a growth of 14.2% in total in force premiums to reach RM26.3 billion while group policies and traditional
policies recorded a growth of 5.5% and 0.6%, respectively.

in Force Premiums

RM Million/ Type January to December
2020 2021 growth
Traditional 16,289 16,388 0.6
Investment-Linked 23,064 26,338 14.2

Annuity 475 363 -23.7
group 3,541 3,734 5.5
Total 43,369 46,823 8.0

The sum assured in force grew by 5.6% amounting to RM1,779.5 billion in 2021 compared to RM1,685.8 billion in 2020.

The sum assured in force of investment-linked policies registered a strong growth of 9.9% from RM765.1 billion in 2020 to reach
RM841 billion in 2021. group policies registered a moderate increase of 3.4% while traditional policies recorded a slight drop of
0.7% as compared to the previous year.

sum assured in Force

RM Million/ Type January to December
2020 2021 growth
Traditional 327,814 325,396 -0.7
Investment-Linked 765,072 840,989 9.9

Annuity 390 365 -6.3
group Policies 592,488 612,710 3.4
Total 1,685,764 1,779,460 5.6