Malaysia: Takaful Malaysia shows steady performance

Source: Middle East Insurance Review | Oct 2024

Syarikat Takaful Malaysia Keluarga (Takaful Malaysia) reported that its net profit for the first half of the year (1HFY2024) grew by 5.3% to MYR195.4m ($45.1m) from MYR185.5m in the previous half-year period, as total takaful revenue climbed 23.4% to MYR1.69bn from MYR1.37bn.

Takaful Malaysia said it would continue to focus on the group’s core businesses in bancatakaful, treasury, employee benefits and general takaful, which it claimed was customers’ preferred takaful provider. The group also pointed to its flagship digital platform, Kaotim, which it said has achieved positive results since its launch in late 2023.

“In this segment, our focus remains with young professionals and the digitally savvy, a market segment which cannot be ignored and we believe that these customers will mature into a key customer segment with growing protection needs in future,” it said. M

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