Takaful Industry Records RM62.54 Billion In Assets As Of Mid-2025 - MTA
KUALA LUMPUR, Nov 1 (Bernama) -- The Malaysian takaful industry recorded assets of RM62.54 billion as of mid-2025, nearly doubling from RM41.87 billion in 2020.
Chairman of the Malaysian Takaful Association (MTA) Wan Saifulrizal Wan Ismail said Malaysia’s Takaful penetration rate has also reached 19.54 per cent as of mid-year.
The family takaful segment recorded 6.69 million active certificates as of August 2025, showing a significant increase compared to 4.55 million certificates a decade ago, while total annual contributions exceeded RM9.87 billion during the same period.
"Currently, there are over 6.69 million active family takaful certificates and 113,000 registered takaful representatives nationwide," he said in his opening remarks at the Takaful Leaders and Agents Summit 2025 (TLAS25) held here today.
Wan Saifulrizal, who is also the chief executive officer of Prudential BSN Takaful Bhd, said a total of RM7.89 billion in claims were paid in 2024, bringing the total family takaful claims paid since 2015 to RM45.46 billion as of December 2024.
He said the achievement reflects the collective efforts of all stakeholders in strengthening the industrial ecosystem— from policy and legislation to innovation and public awareness on the importance of takaful.
TLAS25, now in its third edition, brings together key industry stakeholders to share the latest insights, exchange ideas, and discuss challenges and inspirations within the sector.
With the theme "Shaping the Future Takaful: Lead the Shift," Wan Saifulrizal said the event is not merely an annual gathering but an important platform to strengthen commitment and inspire renewed energy towards advancing the country’s takaful industry.
Meanwhile, Bank Negara Malaysia’s director of consumer and market conduct Lau Chin Ching said takaful agents must evolve to stay relevant in the takaful industry by being digitally fluent, ethically grounded, and purpose-driven in this digital era.
She said with the presence of chatbots in online platforms, the role of agents could diminish as technology can provide information directly to customers.
"But can it (technology) deliver empathy? Can it read a worried face or offer reassurance when someone needs it, when there is trouble? You are advisors — you need to educate your clients as well as advocate for them.
"So, I think you must have a synergistic relationship with the takaful operator and be digitally savvy, because you are the bridge between the operator and your clients, and you should ensure that takaful operators act in the best interest of consumers," she said.
Lai said this in her keynote address entitled "Beyond Compliance: Building a Purpose-Driven Takaful Industry", here today.
-- BERNAMA