KUALA LUMPUR (Oct 26): Shares in Syarikat Takaful Malaysia Keluarga Bhd (Takaful) rose 4.05% this morning after it posted a 73% jump in net profit to RM83.96 million for its third quarter ended Sept 30, 2018, from RM48.57 million previously, owing to higher net wakalah fee income.

At 9.20am, Takaful rose 15 sen to RM3.85 with 41,000 shares traded.

Gross earned contributions were up 38.5% to RM613.96 million in 3QFY18.

Revenue rose 36.26% to RM648.95 million from RM476.24 million the year before (3QFY17), attributable to higher sales generated by the Family and General Takaful segments.

Cumulative nine-month net profit increased 35.88% to RM204.35 million from RM150.4 million or 18.29 sen per share. Revenue improved by nearly a fifth to RM1.94 billion against RM1.62 billion previously.

Looking ahead, Takaful Malaysia will remain focused on sustaining its position as the market leader in the Family Takaful business whilst expanding its market share in the General Takaful business to establish a strong foothold in the industry.