AIA PUBLIC Takaful Bhd. (AIA PUBLIC Takaful) has announced a surplus distribution of RM70.7 million for the financial year ending 31 December 2023.
This distribution will benefit approximately 467,000 of its certificate holders, marking a remarkable 63% increase from the previous year. This surplus represents the highest amount ever distributed to customers since the company’s establishment over a decade ago.
Elmie Aman Najas, Chief Executive Officer of AIA PUBLIC Takaful, expressed his satisfaction with this achievement. “I’m pleased to announce that we’ve reached a significant milestone by declaring the highest surplus since our first distribution in 2014. This achievement is a testament to our solid financial management, strong investment performance, and our ability to thrive in a challenging and dynamic market environment,” he said.
“Non-claimant customers benefit from this surplus as a direct result of their consistency in maintaining their contributions and keeping their certificates active. This outcome demonstrates the value of fostering positive financial behaviors among customers, contributing to greater financial security and shared benefits for everyone within our Takaful community,” Elmie added.
In line with the Takaful principle of mutual assistance and support, customers participating in selected AIA PUBLIC Takaful plans can opt to donate their eligible surplus to charity. For the financial year 2023, over 10,000 customers have chosen to channel their surplus, totaling RM2.2 million, to the AIA PUBLIC Takaful’s Penyala Harapan Charity Fund.
The Takaful surplus is determined and declared by a Takaful operator and arises from the Participants’ Risk Fund (PRF) after deducting all claims payable, statutory reserves, and solvency capital requirements. The surplus amount is distributed annually among eligible participants based on their contributions, coverage amounts, and certificate periods, provided that their certificates remain in-force and no claims are made during the financial year.
