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%.

Takaful Malaysia plans to introduce new product solutions to improve its growth rate. The company said it made significant investments in tools, applications and new technologies to improve operational efficiencies and customer experience. For the fourth quarter ended Dec 31, 2017, Takaful Malaysia’s net profit stood at RM56.3 million, 43.4% higher than the RM39.26 million recorded in the previours period. Revenue increased 5.5% from RM490.82 million to RM517.74 million. Its full-year net profit soared 17.3% from RM176.28 million to RM206.7 million, with revenue rising 6.3% from RM2.01 billion to RM2.14 billion. Takaful Malaysia group CEO Datuk Seri Mohamed Hassan Kamil said the group’s profit surpassed its target and for the first time exceeded RM200 million since its establishment. He added that the group takaful business and general takaful gross contribution grew 20% from the previous financial year to close at RM591 million, mainly derived from the fire and motor classes.

Syarikat Takaful Malaysia Berhad (Takaful Malaysia) fed 66 children of Al-Khaadem Home Of Hope. They also received duit raya. The children were between four and 16 years.
Takaful Malaysia board member Zakaria Ismail also introduced the company's zakat (tithe) contribution to the foundation which was represented by its president, Ustaz Hussain Yee. The zakat contribution will be used to support the daily administration and management of the home, especially in providing education for the children.