PETALING JAYA: Syarikat Takaful Malaysia Keluarga Bhd
is expected to continue benefiting from the company’s bancatakaful partnerships with major lenders, underpinned by extensive retail banking franchises and financing pipelines as the takaful operator pushes to diversify beyond traditional credit-related products.
Kenanga Research said the company’s partnerships with RHB Bank Bhd and Bank Islam Malaysia Bhd would continue supporting growth momentum moving forward, particularly through mortgage and financing-related takaful products.
The research house noted the company has been actively expanding its exposure to non-credit-related family takaful offerings, which currently still accounts for 60% to 70% of its family takaful portfolio.
“Growing traction seen in the employee benefits segment is supporting portfolio diversification,” it said.
Kenanga Research said within the general takaful segment, motor products currently make up 58% of the portfolio, although the company remains focused on expanding its non-motor offerings to strengthen portfolio resilience and improve underwriting stability over the medium term.
The research house maintained its “outperform” call on the company with an unchanged target price of RM4.40 per share, noting that the stock’s dividend yield prospects of approximately 6% could remain attractive for yield-focused investors, supported by a return on equity of between 18% and 20%.
Meanwhile, Hong Leong Investment Bank Research said the outlook for financial year 2026 remains resilient, anchored by structural growth in non-motor segments such as fire and personal accident products, alongside robust mortgage takaful pipelines stemming from its bancassurance partnerships.
It has maintained a “buy” call with a revised target price of RM4.19 per share.
