PUTRAJAYA, Dec 6 — Bank Negara Malaysia (BNM) is still negotiating with stakeholders on the proposal to increase medical insurance premiums, said Prime Minister Datuk Seri Anwar Ibrahim.

"As of now, the process is still being renegotiated,” Anwar told reporters after attending Friday prayers at Presint 14, Putrajaya.

It was previously reported that the central bank called upon insurers and takaful operators to reassess its premium-setting strategy to ensure a more reasonable implementation.

BNM said this would include managing the increase of premiums and contributions over time by considering the impact on policyholders and takaful participants.

Local media reported that medical insurance premiums are expected to increase by 40 to 70 per cent next year, resulting in many policyholders considering terminating their policies due to increasing monthly insurance premiums. — Bernama