AIA PUBLIC Takaful Declares Highest Surplus Distribution of RM70.7 Million
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Kuala Lumpur, 10 September 2024 – AIA PUBLIC Takaful Bhd. (AIA PUBLIC Takaful) has announced a surplus distribution of RM70.7 million for the financial year ended 31 December 2023, benefitting approximately 467,000 of its certificate holders. The surplus, arising from the Participants’ Risk Fund (PRF) represents a 63% increase from the previous year and is the highest surplus amount distributed to AIA PUBLIC Takaful customers since the company’s establishment more than a decade ago.
Chief Executive Officer of AIA PUBLIC Takaful, Elmie Aman Najas shared, “I’m pleased to announce that we’ve reached a significant milestone by declaring the highest surplus since our first distribution in 2014. This achievement is a testament to our solid financial management, strong investment performance and our ability to thrive in a challenging and dynamic market environment.”
Elmie also explains that the surplus distribution reflects the unique value of Takaful where benefits extend beyond claimants, with non-claimants receiving their fair and proportionate share of the surplus. “Non-claimant customers benefit from this surplus as a direct result of their consistency in maintaining their contributions and keeping their certificates active. This outcome demonstrates the value of fostering positive financial behaviours among customers which contributes to greater financial security and shared benefits for everyone within our takaful community.”
“We remain dedicated to managing our finances and risk funds with efficiency, guided by AIA’s prudent investment approach, strong risk management and sound governance, so our customers can continue to benefit from these financial returns,” he added.
In line with the takaful principle and concept of mutual assistance and support, customers who participate in selected AIA PUBLIC Takaful plans are also given the option to donate their eligible surplus to charity. For the financial year ended 2023, more than 10,000 customers have opted to channel their surplus totalling RM2.2 million to AIA PUBLIC Takaful’s Penyala Harapan Charity Fund.
“It’s gratifying to see our customers generously donating their surplus to help uplift the wellbeing of our communities. Their contributions to the Penyala Harapan Charity Fund will make a lasting impact and bolster charitable efforts aimed at supporting and improving the lives of the underprivileged across the country. We extend our heartfelt thanks to our customers for trusting AIA PUBLIC Takaful as their takaful partner and look forward to continuing our work in offering compelling Shariah-compliant solutions as well as services that empower Malaysians to live Healthier, Longer, Better Lives,” added Elmie.
Takaful surplus is a unique feature which is determined and declared by a takaful operator, if any, arising from the PRF after deducting all claims payable, statutory reserves and solvency capital requirement. The surplus amount, which is distributed on an annual basis, will be shared proportionately amongst eligible participants in accordance with their contribution, amount of coverage and certificate period, provided that their certificate remains in-force and that no claims were made during the financial year.
For more information on AIA PUBLIC Takaful’s shariah-compliant solutions or community initiatives, visit www.aia.com.my
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About AIA PUBLIC Takaful Bhd.
AIA PUBLIC Takaful Bhd. (AIA PUBLIC Takaful) is jointly owned by AIA Bhd. (AIA), Public Bank Berhad (PBB) and Public Islamic Bank Berhad (a wholly owned subsidiary of PBB). Incorporated on 11 March 2011, AIA PUBLIC Takaful leverages on AIA and PBB Group’s leadership positions as well as established infrastructure and distribution networks in the insurance and banking industries to drive growth and increase the Family Takaful penetration in the domestic market. AIA PUBLIC Takaful is committed to offering the right Shariah solutions to meet the different life stages needs of its customers.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – whollyowned branches and subsidiaries in Mainland China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR, and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$289 billion as of 30 June 2024.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under ticker symbol “AAGIY”.
