For the period ended 30 June 2024, MNRB recorded RM941.1 million total revenue, a 0.5% decrease from RM945.3 million in corresponding quarter. The decrease it said was attributed by the drop in insurance revenue from family takaful business, offset by growth in general takaful and reinsurance businesses.

The Group recorded a significantly higher profit after tax of RM92 million, RM20 million more from RM69 million it recorded in the previous years quarter. The increase MNRB said was mainly due to the higher insurance service result driven by improved claims experience compared to corrresponding period, offset by lower investment results attributed to the foreign exchange losses and unfavorable fair value movements.

Reinsurance Business
The total revenue of this segment increased by RM12.4 million or 2.4% mainly which it said was due to growth in insurance revenue by RM3.5 million contributed by growth in the international business from Specialty portfolio and the local voluntary cession as well as investment income by RM8.9 million.

PBT of this segment increased by RM27.7 million from RM64.6 million to RM92.3 million, primarily driven by better insurance service result due to improved claims experience in current period as compared to corresponding period.

Retakaful Business
Retakaful business recorded deterioration in the total revenue and the PBT by RM8.8 million and RM2.6 million respectively, predominantly due to drop in takaful service revenue as result of rebalancing of the portfolios.

General Takaful Business
General takaful business registered a total revenue of RM198.6 million, representing an increase of RM22.3 million or 12.6% primarily due to growth in takaful revenue by RM21.7 million. The increase in takaful revenue was mainly due to higher takaful revenue earned from motor and fire businesses.This segment has recorded an increase of RM5.8 million PBT from RM10.7 million to RM16.5 million. The rise was primarily due to higher wakalah fee in tandem with growth in takaful service revenue.

The total revenue of this segment recorded RM208.0 million, representing a decrease of RM27.3 million mainly due to lower takaful service revenue results following the reduction in banca takaful business

Family takaful business showed a slight decrease in the PBT of RM1.7 million from RM7.4 million to RM5.7 million due to lower takaful service results offset by higher net investment returns.