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MNRB's Pre-tax Profit For Q3 Declines To RM53.64 Million
Revenue, however, rose to RM621.51 million from RM603.46 million, the company said in a filing to Bursa Malaysia Friday.
"The higher revenue is the result of an increase in gross premiums and contributions by the group's reinsurance and takaful subsidiaries, respectively," it added.
MNRB said the lower pre-tax profit was mainly due to the provision for Typhoon Fitow losses in Fujian Province in Southeast China, provided by the reinsurance subsidiary and an increase in actuarial reserves in the family retakaful business.
MNRB Holdings is engaged in investment holding and the provision of management services to its subsidiaries, and operates under four segments, namely investment holding, the reinsurance business, takaful operator and retakaful operator.
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