IslamicFinance.de

Takaful Malaysia aims to expand its market share in the general takaful business after recording higher turnover and earnings for its 2017 fiscal year. The company increased its revenue by 6.5% to RM2.14 billion year-on-year due to the higher sales in the family and general takaful businesses. Group CEO Datuk Seri Mohamed Hassan Md Kamil said the company maintained its lead position in the family takaful segment and the fire and motor classes’ gross contribution shot 20% up from FY16 to close at RM591 million. He added that Takaful Malaysia is also in the middle of enhancing its digital capabilities. Significant investment has been made in tools, applications and new technologies to improve operational efficiencies and enhance the customer experience. The takaful operator surpassed the RM200 million mark for the first time since its inception in 1984, growing at a compounded annual growth rate of 27%.