Takaful Malaysia’s Q4 net profit up 37%

PETALING JAYA: Syarikat Takaful Malaysia Keluarga Bhd’s net profit for the fourth quarter ended Dec 31, 2020 jumped 37% year-on-year to RM103.15 million mainly attributable to savings from management expenses and release of expense reserve.

However, its revenue dropped 1% to RM774.94 million mainly attributable to lower investment income.

For the full year, the group’s net profit dropped 1% to RM362.42 million, while revenue fell 5% year-on-year to RM2.96 billion mainly attributable to lower sales generated from family takaful business.

Amid the uncertainties in current economic environment to support business expansion, the group

remains vigilant and cautious in managing operating costs, business growth and risk profile of its portfolio.

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