Takaful News - Takaful Malaysia sees net profit rise 11%

Source: Middle East Insurance Review | Mar 2016

Syarikat Takaful Malaysia’s net profit for the financial year ended 31 December 2015 rose 11% to MYR155.98 million (US$37.4 million) due to increased sales from both its family and general takaful businesses as well as higher net investment income.

The company said in a filing to Bursa Malaysia that the improved bottom line was achieved on 8.2% higher revenue of MYR1.79 billion.

For 2016, Takaful Malaysia said it would continue rewarding its customers with a 15% cash back for general takaful products, and establishing a strong foothold in the local insurance and takaful arena.

“The successful implementation of core initiatives in operational excellence, technology-driven capabilities, product innovation and performance-oriented culture will enable the company to be ahead of its competitors, increase its overall market shares and continuously improve shareholders’ value,” it said.

MYR1 = US$0.24

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