KUALA LUMPUR, April 8 (Bernama) — The Malaysian Takaful industry continues to show resilience during the pandemic with an increase of 7% new business contribution for all Family Takaful certificates in 2020, amounting to RM 6.59 billion as compared to RM 6.16 billion in 2019. The new Takaful protection value has increased by 21.4% to RM 461.7 billion, from RM380.2 billion in 2019.
The Family Takaful new business single gross contributions registered RM 5.09 billion in 2020, an increase of 4.9% from RM 4.85 billion in 2019. while the Family Takaful annual gross contributions of new business have recorded RM1.50 billion in 2020, a double-digit growth of 14.8% when compared to RM 1.31 billion in 2019. In terms of distribution channels, Bancatakaful was the main contributors with 41.6% followed by Agency for 25.1%.
