Takaful Malaysia sets 15pc no claim rebate

SHAH ALAM: Syarikat Takaful Malaysia Bhd will maintain its 15 per cent
'no claim rebate' and increase its value added service delivery amidst
tougher competition.

Takaful Malaysia is the first and sole
Takaful company in the country to offer an additional 15 per cent no
claim rebate to all its participants in the general and selected family
takaful products.

"Demand for Takaful products is good, the
growth rate is 20 per cent and their value proposition is the 15 per
cent no claim rebate," Group managing director Datuk Mohamed Hassan
Kamil told Bernama.

It was reported that Takaful Malaysia is
confident of disbursing about RM35 million in no claim rebate this year
to its customers given the positive growth in its General Takaful
portfolio.

Mohamed Hassan said Takaful Malaysia has sufficient surplus to sustain its 15 per cent no claim rebate in the future.

"The
projection is made due to the company's prudent underwriting policy,
efficient claim management and the investments which the company
undertakes," he said.

Mohamed Hassan said last year, Takaful
Malaysia paid out a record RM31 million in no claim rebate to its
customers, adding it is optimistic on capturing a more than 50 per cent
market share from the current 40 per cent.-- Bernama