Tune Protect Records Second Straight Profitable Quarter

Tune Protect Group Berhad started its financial year commendably in the first quarter of 2023 (“1Q23”) by posting its second straight profitable quarter.

The Group recorded growth in Net Earned Premium by 29.9% year-on-year in 1Q23 to RM81.2 million, although Net Written Premium dropped by 7.3% to 76.3 million during the same period. The Group observed growth in its preferred business segments; AirAsia Travel, Motor, and Health, which contributed to the Group’s topline. The Group recorded Profit After Tax of RM3.4 million, up by more than 100% YoY.

Commenting on the results, CEO Rohit Nambiar said “We have sustained our momentum, as shown by the Group’s second straight profitable quarter in1Q23. The Group’s net investment income rebounded by more than 100% to RM10.2 million in
1Q23, while Tune Protect Thailand’s (“TPT”) Covid-19 claims have also trailed off,”

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