Tune Protect: Strong 3Q24 PAT Growth of 50.3% YoY

Tune Protect Group Berhad registered commendable financial results for the third quarter of the financial year 2024 (3Q24) with Profit After Tax (PAT) rising strongly by 50.3% Year-on-Year (YoY) from RM4.8 million to RM7.2 million. Underwriting result also grew positively by 17.3% YoY from RM5.2 million to RM6.1 million. How Kim Lian, Tune Protect Group’s Chief Executive Officer highlighted several key factors contributing to the Group’s profitability in 3Q24.

Tune Protect

“Overall, the Group performed well despite relatively lower insurance revenue in 3Q24, falling 6.3% YoY to RM100.2 million compared to 3Q23 which was mainly due to Commercial revenue carried over from 2022 in 3Q23. Excluding the favourable impact amounting to RM7.1 million from the Tenang scheme in 3Q23, net incurred claims and attributable expenses improved by RM3.0 million due to lower expenses and better Fire and Personal Accident (PA) claims experience,” says How Kim Lian, Tune Protect Group’s Chief Executive Officer.