Takaful Malaysia posts RM94.54mil profit in Q1, revenue up RM1.12bil
However, revenue rose to RM1.12 billion from RM958.42 million previously driven by higher takaful revenue, the company said in a filing with Bursa Malaysia yesterday.
"The group recorded takaful revenue of RM980.6 million for 1Q FY2025," it said.
"The growth was mainly driven by a higher contribution release of RM37.7 million and a higher amount charged for takaful coverage under Family Takaful by RM93.2 million, contributed by the growth in the group credit business," it said.
It noted that the Family Takaful segment generated takaful revenue of RM608.2 million in 1Q FY2025, an increase of 35 per cent compared to RM449.6 million in the same period last year.
This was mainly attributed to a higher amount charged for takaful coverage of RM93.2 million and a higher contribution release of RM44.3 million.
Commenting on the first-quarter performance, the group said it continues to be its customers' preferred takaful operator, with its pioneer status lending strength to the brand and affirming customers' trust in its products and services.
The group also said it will continue to innovate and introduce products that are relevant to customer needs, offering both value and protection.
It added that Takaful Malaysia is currently finalising plans for further product launches in 2025.
"The group remains steadfast in its commitment to growing its business and advancing our sustainability and environmental responsibilities.
"Our approach to sustainability is holistic, encompassing strong governance, environmental stewardship, responsible investments, and meaningful social contributions," it said.
Through these initiatives, the group aims to create a lasting positive impact, ensuring a sustainable future for all stakeholders.
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