Takaful Malaysia 3Q net profit up by a third to RM112.34m

Syarikat Takaful Malaysia Keluarga Bhd said despite business sentiments remaining cautious in 2019, the Takaful industry is expected to outperform the conventional insurers in view of the strong demand for Takaful products.

KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd saw its net proft increase by 33.8% to RM112.34mil in the third quarter ended Sept 30,2019 from RM83.95mil a year mainly due to an increase in net wakalah fee income.

It announced on Thursday its revenue rose by 16.1% to RM753.51mil from RM648.95mil mainly due to higher sales generated by family Takaful business. Earnings per share rose to 13.59 sen from 10.19 sen.