43 THE STRUCTURE OF THE LIFE ASSURANCE INDUS MALAY- SIA GERALD TAN & MARY LEE Department of Economics, University of Singapore INTRODUCTION This paper examines the structure of the life assurance industry in Malaysia in terms of the number and size distribution of firms in the industry. Section I presents the results of different measures of industrial structure used to study the industry. Changes in industrial structure over time are also discussed. Section 11 attempts to explain the observed industrial structure in terms of the underlying cost conditions in the industry. The long-run average cost curve of the industry is estimated in order to see if the observed industrial structure can be adequately explained by the existence of economies of scale. Unless specified otherwise, the data used in this study were taken from the ANNUAL REPORT OF THE DIRECTOR GENERAL OF INSURANCE. The latest date to which the data pertain is 1970 since, when this study was undertaken, data for 1971 were not yet available. SECTION I . _ There were 20 registered life assurance firms in Malaysia in 1970. Of these, 9 were engaged only in life assurance. The others were engaged in both life and general
Asian Journal of Social Science – Brill
Published: Jan 1, 1973
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