{"id":437589,"date":"2022-11-01T15:30:07","date_gmt":"2022-11-01T07:30:07","guid":{"rendered":"https:\/\/www.takaful-malaysia.com.my\/?post_type=news&p=437589"},"modified":"2025-09-17T16:05:40","modified_gmt":"2025-09-17T08:05:40","slug":"takaful-malaysia-revenue-up-35-in-third-quarter-2022","status":"publish","type":"news","link":"https:\/\/www.takaful-malaysia.com.my\/en\/news\/takaful-malaysia-revenue-up-35-in-third-quarter-2022\/","title":{"rendered":"Takaful Malaysia Revenue Up 35% in Third Quarter 2022"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"template":"","categories":[31],"tags":[],"class_list":["post-437589","news","type-news","status-publish","hentry","category-news"],"acf":{"more_projects_text":"","featured_image":{"desktop_image":399324,"mobile_image":399326,"highlight_new_overview":412947},"date":"20221101","title":"
Takaful Malaysia Revenue Up 35% in Third Quarter 2022<\/div>\u00a0 ","news_category":"Financial","quote":"Our business performance for the first three quarters of the year has grown on a positive trend underpinned by our multi-distribution strategy that continues to reinforce the Group\u2019s business growth.","first_content":"

Takaful Malaysia recorded a significant increase in operating revenue of RM924.4 million for the third quarter ended 30 September 2022, up 35% compared to RM684.3 million reported in the same quarter of the previous year. The Group\u2019s operating revenue increased mainly due to higher sales from the family takaful and general takaful businesses.<\/p>","second_content":" \r\n

Takaful Malaysia posted a profit before zakat and tax (PBZT) of RM137.6 million for the quarter under review, a significant increase of 56% compared to RM88.4 million in the same period last year, mainly contributed by higher net wakalah fee income. In addition, despite the imposition of \u201cCukai Makmur\u201d for the assessment year 2022, amounting to RM11.1 million, the Group still managed to increase its net profit by 20% to RM87.3 million for the quarter under review from RM72.7 million in the same period last year.<\/p>\r\n \r\n

Nor Azman Zainal, Group Chief Executive Officer of Takaful Malaysia, said, \u201cOur business performance for the first three quarters of the year has grown on a positive trend underpinned by our multi-distribution strategy that continues to reinforce the Group\u2019s business growth. We will strive to keep our positive momentum to meet the expectations of stakeholders and achieve the targets set for 2022. Therefore, our strategic direction is strengthening our presence in the retail market by providing Malaysians with greater access to complete protection solutions, ranging from general to family takaful products.\u201d<\/p>\r\n \r\n

For the quarter under review, Takaful Malaysia\u2019s family takaful business recorded gross earned contributions of RM594.6 million, higher by 43%, compared to RM414.7 million in the same period last year, mainly due to higher sales from credit-related products. Additionally, investment income for the family takaful business for the current quarter rose to RM81.0 million, up 11% compared to RM73.1 million in the same quarter last year, attributable to higher profit income from fixed income investments.<\/p>","bottom_content":"

The general takaful arm of Takaful Malaysia continues to gain momentum and record positive performance to support the Group\u2019s growth. Takaful Malaysia\u2019s general takaful business generated an 18% increase in gross earned contributions to RM257.5 million from RM218.4 million in the same quarter last year, mainly due to the fire, motor and engineering classes of business. Investment income for the general takaful business also increased by 24% to RM9.2 million from RM7.4 million recorded in the same quarter of the previous year, mainly due to higher profit from fixed income investments.<\/p>\r\n \r\n

The Group\u2019s Indonesian operations recorded gross earned contributions of RM92.9 million, higher by 18% compared to RM78.4 million in the same period of the previous year.<\/p>\r\n \r\n

Nor Azman Zainal said, \u201cOur third quarter results demonstrate strong revenue growth and business performance across our key growth drivers. We focus on establishing a fair balance between underwriting margins and business growth to increase our market share, achieve strong brand loyalty, retain existing customers, and attract new ones. We will continue to leverage our leading market position in single contribution credit-related products, strong general takaful business and focus on retail market expansion to diversify our business portfolio and ensure future sustainable business to complement our existing core businesses. We will continue to explore the untapped market in the insurance and takaful business.\u201d<\/p>\r\n \r\n

\u201cWe look forward to a robust performance on the back of a low takaful penetration rate and continued drive for Shariah-compliant products. We are committed to adopting sustainable practices as part of our business strategy to operate efficiently and further increase our growth curve. Takaful Malaysia is well-positioned to deliver commendable business performance and drive innovation in providing comprehensive and affordable takaful solutions to Malaysians,\u201d said Nor Azman Zainal in conclusion.<\/p>\r\n

<\/p>","download_image":"","download":""},"_links":{"self":[{"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/news\/437589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":3,"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/news\/437589\/revisions"}],"predecessor-version":[{"id":437623,"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/news\/437589\/revisions\/437623"}],"wp:attachment":[{"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/media?parent=437589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/categories?post=437589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.takaful-malaysia.com.my\/en\/wp-json\/wp\/v2\/tags?post=437589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}