KUALA LUMPUR (Jan 25): Syarikat Takaful Malaysia Bhd saw its net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) rise 43% to RM56.3 million, from RM39.26 million a year ago, thanks to higher net wakalah fee income and lower management expenses.

Earnings per share (EPS) rose to 6.84 sen, from 5.55 sen previously.

Quarterly revenue grew 5.48% to RM517.74 million from RM490.82 million in 4QFY16.

For the full FY17, Syarikat Takaful's net profit increased 17.25% to RM206.7 million, from RM176.28 million in the previous year, while revenue rose 6.25% to RM2.14 billion from RM2.01 billion in FY16.

EPS improved to 25.13 sen, from 21.52 sen previously.

For 2018, Takaful Malaysia said it will remain focused on sustaining its position as the market leader in the Family Takaful business while expanding its market share in the General Takaful business to establish a strong foothold in the industry.

"The company will continue to enhance its digital capability to increase its product and service accessibility to the consumers by intensifying its online marketing initiatives," it said in a filing with Bursa Malaysia today.

Takaful Malaysia will also embark on multiple digital initiatives to further develop 'customer centric' value propositions to remain competitive in the industry.

"The company will carry out its key initiatives including an active management strategy, as well as prudent investment and underwriting activities to deliver sustainable results for its shareholders and promote financial security to its customers," it said.

The group said it will amplify its brand presence and the '15% Cash Back' offered to its customers for selected products in the event of no claims during the coverage period.

"Takaful Malaysia will continue to emphasise the four core areas of customer reach, operational agility, cost competitiveness and stakeholder confidence to firmly establish the company as the preferred choice for insurance amongst the consumers," it added.

Takaful Malaysia shares fell six sen or 1.64% to close at RM3.59 today, giving it a market capitalisation of RM2.96 billion.