KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd, the first takaful operator in the country, consistently delivered commendable performance and demonstrated steady growth for the first nine months ended Sept 30, 2024.
The group's takaful revenue surged to RM2.66 billion, marking a substantial 23 per cent increase compared to RM2.17 billion recorded in the same period last year.
This significant growth was mainly driven by higher contributions from family and general takaful businesses, and increased takaful coverage across both businesses.
Takaful Malaysia's profit after zakat and tax rose to RM296.5 million from RM276.8 million last year.
The group also declared an interim single-tier dividend of 17 sen per ordinary share, amounting to RM142.3 million for the financial year ending Dec 31, 2024, an increase of 21 per cent compared to 14 sen totaling RM117.2 million in 2023.
Group chief executive officer Nor Azman Zainal said Takaful Malaysia is committed to strengthen its position in bancatakaful, treasury, employee benefits, and general takaful while strategically expanding general takaful business beyond the motor segment.
He noted that the group's digital platform and brand Kaotim,which offers a comprehensive suite of affordable and accessible protection plans, has been well-received and has delivered positive results.
He said they aim to achieve sustained growth and long-term business goals by diversifying portfolio in the retail market.
"Our efforts prioritise sustainable value creation across our core business portfolios, integrating growth initiatives with environmental responsibility to consistently deliver value to our stakeholders.
"We remain unwavering in advancing our digital agenda, an essential pillar for ensuring the future sustainability of
our business," said Nor Azman in a statement.
In conjunction with the 40th anniversary of Takaful Malaysia as the pioneer financial Islamic institution in Malaysia's insurance and takaful industry, the group hosted a gala dinner to commemorate its significant milestones in the industry while fostering stronger relationships with key stakeholders.
In welcoming remarks, Nor Azman said that as a progressive, resilient, and viable Islamic financial institution, Takaful Malaysia has recorded solid and consistent growth since its establishment 40 years ago.
He stated that the group remains competitive amidst intense competition through a comprehensive and affordable range of products and services, which has supported robust and commendable annual growth.
He also announced that the group will introduce a youth leadership program, Takaful 100 Youth Leadership Program, as part of its future-proof sustainability initiatives, which reflects Takaful Malaysia's aspirations and essential role in nationbuilding.
Moving forward, Nor Azman said the group is committed to its digital agenda by focusing on investments in technology and digital innovation to ensure the business' sustainability, and to remain competitive in the insurance and takaful industry, which aligns with current market demands.
"Let us strive to build a sustainable legacy that ensures Takaful Malaysia remains relevant, resilient, and a leader in the industry for generations to come.
"This milestone is a celebration of past achievements and a call to action for continued excellence, innovation, and our unwavering commitment to our core values," Nor Azman added.