Takaful Malaysia Introducing Life Protection And Non-Motor Coverage

Samuel Chua

17th September 2025 - 2 min read

Syarikat Takaful Malaysia Keluarga Bhd is introducing individual life protection plans and expanding its general takaful business beyond motor policies. In a statement, the family takaful operator said the initiatives aim to strengthen its presence in under-served segments and support long-term business growth.

Introducing Non-Motor Takaful Products

The group is adding non-motor takaful solutions such as fire, solar, personal accident, and other asset protection products. With only four active providers in this segment, the move places Takaful Malaysia among a smaller group of operators offering broader coverage options.

Group chief executive officer Nor Azman Zainal said the initiatives are part of the company’s long-term strategy.

“By investing in innovation, expanding distribution, and diversifying our product mix, we are positioning the group for sustained earnings growth. Strengthening market share will also be a key driver in supporting sustainable profitability,” he said.

Introducing Life And Critical Illness Coverage

Takaful Malaysia is also introducing products for the family retail market, focusing on life protection and critical illness coverage. The group noted that penetration in this segment remains low, at about 21%.

The group is also reaching customers directly through its digital platform, Kaotim, which provides online protection plans designed to be competitive, comprehensive, and affordable.

20-Year Bancatakaful Partnership With RHB Islamic

Separately, Takaful Malaysia has entered into an exclusive 20-year bancatakaful partnership with RHB Islamic Bank. The agreement gives Takaful Malaysia sole rights to distribute its family and general takaful solutions across RHB’s nationwide branch network and through its wealth management services.

The company said the partnership is expected to reinforce its position in bancatakaful and provide a steady source of recurring revenue over the long term.

For Malaysians exploring protection options, you can also compare the best term life insurance plans in Malaysia to find coverage that suits your needs.

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Samuel Chua

Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.