Malaysian Takaful Industry Resilient in 2020 Despite COVID-19 Pandemic: Malaysian Takaful Association

In a statement issued on the 8th of April 2021, the Malaysian Takaful Association (MTA) has announced that the country’s Takaful industry remained resilient in 2020, despite the sector being impacted by the COVID-19 pandemic. New business contribution for all family Takaful certificates increased by 7% to MYR 6.59 billion in 2020 from MYR 6.16 billion in 2019, while new Takaful protection value increased by 21.4% to MYR 461.7 billion in 2020 from MYR 380.2 billion in 2019.

Why it Matters?

The Malaysian Takaful industry has shown positive performance in 2020, despite the COVID-19 pandemic adversely impacting Malaysia’s economy and the Takaful industry. According to Elmie Aman Najas, newly elected Chairman of MTA, the growth of the Takaful...