Syarikat Takaful Malaysia's Q1 net profit declines 7.6%
SYARIKAT Takaful Malaysia Keluarga Bhd reported a 7.6% drop in net profit to RM94.54 million for the first quarter ended March 31, 2025, compared to RM102.30 million a year earlier.
The decline was mainly due to lower contributions from net takaful results linked to the unwinding of contract liabilities.
However, quarterly revenue rose 17.2% to RM1.12 billion, driven by a 35% increase in family takaful revenue to RM608.18 million.
General takaful revenue slipped 2% to RM343.49 million, affected by lower fire takaful contributions.
On a quarter-on-quarter basis, net profit improved 15.2% from RM82.10 million in the previous quarter, supported by better expense management and higher general takaful contributions.
The company remains optimistic about demand for takaful amid ongoing protection gaps. — TMR
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