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Takaful industry shows robust 18% net contributions increase - MTA

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MTA said that gross contributions significantly increased for family takaful and general takaful at 18.3 per cent and 21.2 per cent, respectively.

MTA chairman Elmie Aman Najas said the industry is witnessing a strong demand for takaful products as more and more Malaysians recognise the importance of protecting themselves and their families against financial risks.

In a statement, the "The number of certificates in force for 2022 has increased to 6.63 million certificates, compared to 6.07 million in 2021 and in parallel, a total of 1.31 million new business certificates were issued in 2022, a 15.6 per cent increase from the 1.14 million certificates in 2021,” it said.

"In 2022, the general takaful business registered gross direct contributions of RM4.64 billion, with motor takaful business contributing RM3.07 billion, and the fire takaful business with RM0.84 billion. These are increases of 21.1 per cent, 20.7 per cent and 23.5 per cent, respectively, from their performances in 2021,” it said.

 

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