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Sun Life targets new segments

9 May 2022 | Monday Source: New Straits Times

Sun Life Malaysia believes the growth potential in Malaysia's family takaful category will continue strong, owing to increased knowledge of takaful, digitalisation, and government efforts.

Chief executive officer and president Raymond Lew said that despite the challenging operating environment of the pandemic, the company firmly believes the Malaysian insurance and takaful industry is on an upward trend.

Lew said this is due to several factors, such as an increasing level of understanding and acceptance for insurance and takaful as a financial safety net. 

"We are currently the top bancatakaful provider in the country. In 2021, the total revenue for Sun Life Malaysia increased by 27 per cent to RM2.2 billion, with the takaful revenue growing at a record high year-on-year growth rate of 56 per cent to  RM1.1 billion. 

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