Takaful Malaysia Posts Higher Profit After Zakat Of RM378.1 Mln In FY24

KUALA LUMPUR, Feb 26 (Bernama) -- Syarikat Takaful Malaysia Keluarga Bhd’s profit after zakat and tax for the financial year ended Dec 31, 2024 increased nine per cent to RM378.1 million compared to RM347.1 million posted in 2023.

The group’s takaful revenue rose 22 per cent to RM3.58 billion from RM2.94 billion.

It said the higher profit was mainly due to the increase in takaful services while higher contributions from the family and general takaful businesses and increased takaful coverage across both businesses increased the group’s takaful revenue.

Group chief executive officer Nor Azman Zainal said Takaful Malaysia’s family takaful business generated takaful revenue of RM1.99 billion in 2024, increasing by 28 per cent compared to RM1.55 billion in 2023, mainly attributable to higher takaful revenue earned for takaful services provided.

“Our general takaful business registered takaful revenue of RM1.46 billion for the financial year under review, 14 per cent higher compared to the preceding year of RM1.28 billion, mainly due to higher contribution release from fire and motor class of businesses.

“We delivered a commendable performance in 2024 through our core business portfolios in bancatakaful, treasury, employee benefits, and general takaful,” he said in a statement.

Aligned with evolving market demands, he said the company will focus on expanding its presence in the retail segment to provide Malaysians with greater access to comprehensive and affordable protection solutions.

“Recognising the important role affordability plays in our customers’ lives for financial security, we are committed to offering products and coverage that meet their needs,” he said.

-- BERNAMA