KUALA LUMPUR: AIA Public Takaful Bhd (AIA Public) has declared a total surplus distribution of RM8.5mil for the financial year ended Nov 30, 2013, involving more than 36,000 certificates under the company.
The distribution, marking the first surplus since the company's inception three years ago, will benefit eligible customers who have participated in Takaful products offered by AIA AFG Takaful Bhd and ING Public Takaful Ehsan Bhd, which had integrated their businesses in March 2014 to form AIA Public.
AIA Public chief executive officer Wan Azman Wan Mamat said the company was committed to offering the right Shariah solution to meet the different stages of a customer's requirement.
"We are also focused on ensuring all claims are managed properly and in an ethical manner. By doing so, we are pleased to share a surplus with our customers this year," he said in a statement.
The surplus will be distributed to those who are registered as a customer of AIA Public, as at Nov 30, 2013, do not have any outstanding contribution payments and have not made any claims.
The surplus amount paid will also vary from one customer to another depending on the size of their contribution, amount of coverage and certificate period.
Takaful not only benefits claimants but also takes care of non-claimant customers, who stand to receive a proportionate share of distributable surplus arising from the risk fund at the end of a defined period, said the statement. - Bernama