Syarikat Takaful’s net profit rises 7.9% in fourth quarter

PETALING JAYA: Syarikat Takaful Malaysia Berhad (Takaful) recorded a 7.9% increase in net profit to RM39.26 million for the fourth quarter ended Dec 31, 2016 compared with RM36.38 million achieved in the corresponding quarter of the previous year.

The company also saw a 21.7% rise in revenue from RM403.34 million to RM490.82 million, attributable to the higher sales generated by both the Family Takaful and General Takaful business.

As for 2017, the company is looking to sustain its position as a market leader for the Family Takaful business, and will undertake an enhanced approach to its distribution channel by accelerating digital initiatives to optimise its operations and marketing activities, which includes online sales portal and integrated online marketing initiatives.

“The company will amplify its presence as the preferred choice for insurance through various advertising and marketing activities and promote its unique proposition of rewarding a 15% cash back to its General Takaful customers for no claims during coverage period,” it said in a filing with the stock exchange.

Takaful grossed a net profit of RM176.28 million for FY16, 13% higher from RM155.98 million in FY15.

Its revenue also rose 12.6% to RM2.01 billion from RM1.79 billion in FY15.