Etiqa profit up on strong business channels
By The Star Online published 2 years ago
Original Article Source: The Star Online
Filed Under: News Articles
Etiqa Takaful Bhd’s pre-tax profit increased by 18% to RM107mil in the financial year ended June 30 (FY10) from RM90mil in FY09.
This was supported by strong performance across all business channels and innovations in business operations and processes.
The company recorded revenue of RM2.37bil for FY10, making it the first takaful operator to surpass the RM2bil mark. Its revenue increased by 32% compared with the last financial year.
Etiqa said in a statement its gross contribution for family business recorded a growth of 30% while general business saw an increase of 40%.
It commands 44% of Malaysia’s takaful market as at March in a field of eight operators.
Chief executive officer Shahril Azuar Jimin said: “Since the Etiqa brand was launched 2½ years ago, we have been experiencing tremendous growth year-after-year.
“Surpassing the RM2bil mark in revenue just reaffirms Etiqa’s leadership and pole position in the takaful market and industry.”