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Takaful Malaysia pays out RM30m under cash back plan

Source: The Star, 14th February 2014

Syarikat Takaful Malaysia Bhd made a record cash back payout of RM30mil to its general Takaful customers who did not make any claims during the coverage period.

This payout was an increase of 7.5% compared to the amount paid out in the previous financial year to customers across its general products including motor in the face of rising insurance premiums.

Takaful Malaysia group managing director Datuk Mohamed Hassan Kamil the “Cash Back” was its most unique proposition compared with other Takaful operators or the conventional insurance providers in Malaysia.

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Malaysia’s takaful market healthy, sustainable, says S&P

Source: The Star, 26th September 2012

Malaysia’s takaful industry appears to be more healthy and sustainable compared to its peers in other countries as its development is underpinned by strong fundamentals, says Standard & Poor’s Ratings Services.

The ratings agency said on Wednesday it was more positive on the developments in Malaysia, which is the largest takaful market in southeast Asia.

“They are supported by more-sophisticated regulatory oversight and the stronger investment profile of the industry,” it said in a statement issued from Dubai.

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RAM: Increasing demand for takaful in Malaysia

Source: The Star, 12th April 2011

Malaysia has successfully propelled the takaful industry to the next level, says RAM Rating Services Bhd.

Driven by increasing demand, the takaful industry has evolved from one that only contained a single player with limited basic products to a viable sector that has been integrated into the mainstream financial system, the rating agency said in a statement yesterday.

“While not as prominent as the overall Islamic banking industry, takaful is marching ahead at its own pace with a 20% to 26% year-on-year growth in terms of total assets and contributions between 2004 and 2009,” it said.

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