KUALA LUMPUR, March 25 — Prudential Assurance Malaysia Berhad (PAMB) claimed today that it was fully committed to Bank Negara Malaysia’s (BNM) interim measures to curb rising medical insurance premiums.
The insurer explained that its notice to policyholders about raising health insurance premiums – which was recently reported in the media – outlined the average medical inflation rate for one of its medical plans, PRUHealth, that resulted from an increase in the number of policyholders who made a claim and their average claims amount.
“This was shared to help policyholders understand the factors influencing health care costs and ensuring adherence to guidelines,” PAMB said in a statement.
“Since the implementation of the BNM Interim Measures, we have been reaching out to policyholders in stages since 18 March 2025 with updated notifications, detailing the measures, with updated premium and insurance charges. The measures include staggering premium adjustments and additional assistance for eligible policyholders.
“Medical cost inflation is a nationwide issue affecting all walks of life. The BNM Interim Measures is a joint commitment from the insurance and takaful industry to implement these adjustments responsibly and transparently.
“Our top priority is to ensure that our customers receive the support and clarity they need, and that they understand the options that are available to them with regards to their policy coverage.”
Media reports on Prudential Malaysia’s notice to policyholders about an increase in medical insurance premiums next month did not state the quantum of increase.
PAMB’s press statement today also did not explicitly state if it would cap premium increases under PRUHealth to 10 per cent, which is among BNM’s interim measures to curb rising health insurance premiums.
BNM’s December 20 statement does not specifically mandate insurance/takaful operators (ITOs) to limit premium increases, due to medical claims inflation, to less than 10 per cent annually for three years until the end of 2026.
The central bank merely stated that the interim measures were “agreed with the insurance and takaful industry.”
Several PKR lawmakers, including Bayan Baru MP Sim Tze Tzin, issued a statement earlier today, demanding BNM’s intervention over Prudential’s plan to raise medical insurance premiums.
Prudential Malaysia customers can reach its dedicated hotline at 03-2771 2450 (Monday to Friday, 8.30am – 5.15pm) or email shareyourfeedback@prudential.com.my.
