Etiqa posts record pre-tax profit

KUALA LUMPUR: Etiqa Group Insurance & Takaful posted record profit before tax of RM1.1bil for the financial year ended Dec 31, 2017 as it retained its top position in the general insurance and general takaful segment.

Etiqa, which is a multi-channel distributor of insurance and takaful products, said in a statement yesterday this was an 18.5% increase from the RM855mil achieved in the previous corresponding year.

“The group affirmed its strength and leadership in the industry with total assets of RM34.47bil, total combined gross premium and contribution of RM6.2bil, and investment income of RM1.23bil,” it said.

Etiqa retained its top position in the general insurance and general takaful segment with 11.8% market share and fourth position in the life/ family (new business) segment with 8.9% market share for the Malaysian market.

Etiqa was the top online insurer in Malaysia with more than 70% market share. Its bancassurance channel has a market share of 19% in regular premium sales.

Etiqa Group Insurance & Takaful CEO Kamaludin Ahmad said 2017 proved to be another successful year.

“At Etiqa, we have always recognised the importance of providing exceptional customer service. As a result, we are continuing with our efforts to ensure that dealing with Etiqa is fast and easy,” he said.