Takaful Malaysia registered a profit before zakat and taxation of RM188mil (US50.8 mil) for the year ended 31 December 2014, mainly due to lower management expenses, commissions and expense reserve.
Mainly due to lower sales generated by family takaful business, the company said its operating revenue dip by 3.5%. Family takaful recorded gross earned contributions of RM958.1mil from RM 1.09 bil a year earlier due to lower sales of family product
General takaful gross earned contributions rose7.6% year on year RM457.4mil. Surplus transfer for the year from general takaful was RM59mil compared with RM49.3 mil a year ago, mainly due to lower claims incurred.
Source: Takaful News
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