Takaful Malaysia PAZT For FY23 Jumps 22% To RM347 Million

Syarikat Takaful Malaysia has reported a resilient financial results for the financial year ended 31 December 2023 recording profit before zakat and tax (“PBZT”) of RM507.6 million, an increase by 12% from RM453.1 million posted in the
previous year.

The group’s profit after zakat and tax increased by 22% in 2023 to RM347.1 million from RM283.4 million in 2022. The Group’s takaful revenue for the financial year under review rose 14% to RM2.94 billion from RM2.57 billion posted in the previous year.

Nor Azman Zainal, Group Chief Executive Officer of Takaful Malaysia, said, “We delivered a commendable performance in 2023 and retained a robust presence through our core businesses in bancatakaful, treasury, employee benefits, and general takaful, reinforcing our leadership in the insurance and takaful industry. The increase in the Group’s takaful revenue for the year under review was mainly attributable to growth in business in both family and general takaful. We set a new milestone of recording the highest profit before tax and zakat for the year under review, contributed by higher takaful coverage in both family and general takaful businesses, and higher investment return during the year.”

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