[TUNE PROTECT GROUP BHD：致力于其数字化转型计划中的各种短期和长期举措，以加强集团作为数字保险公司的地位，推出了Sports+，这是第一个针对极限运动的按需保护计划]

3Q18 vs 3Q17:

集团/合并：
集团的营业收入由2017年3季度的1.401亿令吉增加至3Q18的1.415亿令吉。增加140万令吉或1.0％主要是由于：

- 总保费增加310万令吉，主要来自一般保险业务增加200万令吉，汽车类及旅游类别的一般再保险业务110万令吉;

- 投资收入减少170万令吉，主要是由于MMIP的投资收益份额减少了190万令吉，利息收入为10万令吉;被由于单位信托基金的投资增加，集体投资计划的股息增加抵消了。

一般再保险：
该部门的营业收入由2017年第3季的2830万令吉增加120万令吉或4.1％至3Q18的2,950万令吉，主要由于来自中东市场的毛保费增加及投资收益增加所致。

一般保险：
该部门的营业收入由2017年第3季度的1.226亿令吉轻微增加60万令吉或0.6％至3Q18的1.232亿令吉。增加主要是由于：

- 主要来自汽车类的毛保费增加100万令吉;

- 投资收益减少40万令吉，主要来自MMIP的投资收益份额为190万令吉及利息收入为10万令吉;部分被股息收入增加160万令吉所抵消。

YTD18 vs YTD17：

集团/合并：
TUNE保障的营业收入由2017财年的4.041亿令吉增加2160万令吉或5.4％至2018年的4.257亿令吉，主要原因是：

- 一般保险业务中的汽车类以及菲律宾和中东市场的一般再保险业务的总保费增加RM2010万令吉;和

- 投资收入增加150万令吉，主要是由于单位信托基金获得的收入为330万令吉; 部分被MMIP的投资收益份额较低（100万令吉）和利息收入为80万令吉抵销。

集团的部门利润由YTD2017的RM4400万增加至YTD2018的4550万令吉。增加140万令吉或3.3％主要是由于：

- 所产生的净索赔减少2,430万令吉，主要是由于一般保险业务减少2610万令吉，原因是有利的前几年的索赔发展及关闭内向条约的时间限制索赔;但与去年同期相比，被一般再保险业务增加了180万令吉和储备金的释放率较低抵销;

- 投资收入增加150万令吉，主要是由于单位信托基金获得的收入为330万令吉; 部分被MMIP的投资收益份额较低（100万令吉）和利息收入为80万令吉抵销;

- 合资企业业绩份额增加90万令吉;

一般再保险：
该部门的营业收入由YTD2017的8210万令吉增加至YTD2018的8,660万令吉。增加450万令吉或5.4％主要是由于菲律宾和中东市场的毛保费利润增加了410万令吉，投资收益增加了40万令吉。

一般保险：
该部门的营业收入增加了1,840万令吉或5.2％，由2017财年的3.533亿令吉增加至2018财年的3.717亿令吉，主要是由于汽车类的总保费增加1,480万令吉及投资收益增加360万令吉，主要是由于单位信托基金的股息收入所致。

该部门的利润从2017财年的2030万令吉增加了270万令吉或13.3％至2018年的2,300万令吉，主要原因是：

- 由于有利的前几年索赔发展和关闭对时间条约的时间限制索赔，所产生的净索赔减少了2610万令吉;

- 增加360万令吉的投资收入主要是由于较高的股息收入460万令吉，但被MMIP的投资收益份额减少100万令吉所抵消;

- 其他营业收入增加30万令吉;

3Q18 vs 2Q18：

集团/合并：
集团的营业收入仅较上一季度高出20万令吉。

一般再保险：
该部门的营业收入增加了20万令吉或0.8％，从2Q18的2,930万令吉增加至3Q18的2,950万令吉，主要是由于中东市场的毛保费增加及投资收益增加所致。

一般保险：
该部门的营业收入仅比上一季度高出40万令吉。该部门的盈利由二季度的390万令吉增加370万令吉或93.9％至3Q18的760万令吉，主要由于：

- 所产生的净索赔减少650万令吉，主要是由于有利的前几年的索赔发展和关闭对时间条约的时间限制索赔;和

- 投资的公允价值收益增加，即单位信托额为130万令吉，以及出售投资的已实现收益为30万令吉;

前景：
TUNE保障于马来西亚一般保险及一般再保险业务的第三季总保费收入录得8.7％及本财政期间4.0％的增长。第三季度营业收入增长1.0％，本期增长5.4％，而第三季度税后利润减少27.8％，但年初至今水平略微上升2.3％。

TUNE保障继续致力于其数字化转型计划中的各种短期和长期举措，以加强集团作为数字保险公司的地位。在第三季度末，集团推出了Sports+，这是第一个针对极限运动的按需保护计划。从Laka Ltd.UK的初始投资开始，集团目前正与英国实体一起探索Insurtech亚洲地区的进一步合作计划。在亲和伙伴关系领域，马来西亚通用保险业务进一步走向房地产市场，与Host A Stay和Dax Venture签订合作协议，为房主提供创新的保险保障。在Travel Retakaful业务方面，TUNE保障增加了在中东更多市场的业务，同时在年底前继续进一步扩大。TUNE保障希望数字转型，产品创新及亲和伙伴关系等此类举措将进一步为未来的商业前景做出贡献。TUNE保障将开始展示其成本合理化计划，并根据其业务转型计划推出其策略。预计这些战略将在充满挑战的初期阶段后，在中期至长期内实现更多的可持续性和增长。
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.865 in 3 months 4 day, total return is 21%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 4 months 15 days, total return is 14.5%

我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：

预计公司每年的增长率必须> 14％

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人，可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

【看懂年报和季报】课程
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日期：12月9日星期日
地点：Tropical Inn, Johor Bahru (包括茶点)

日期：12月16日星期日
地点：Tune Hotel, George Town (Penang)

日期：12月23日星期日
地点：Kuching

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James Ng
------------------------------
[TUNE PROTECT GROUP BHD: work on various short-term and long-term initiatives in its digital transformation plan to strengthen the Group’s position as a digital insurer, launched Sports+ which is the first on-demand protection plan for extreme sports]

3Q18 vs 3Q17:

Group/Consolidated:
The Group's operating revenue increased from RM140.1 million in 3Q17 to RM141.5 million in 3Q18. The increase of RM1.4 million or 1.0% was mainly due to:

-Increase of RM3.1 million in gross earned premiums, contributed by an increase of RM2.0 million in general insurance business mainly from Motor class and general reinsurance business of RM1.1 million from Travel class; offset by

-Decrease of RM1.7 million in investment income mainly due to decrease in share of investment income from MMIP of RM1.9 million and interest income of RM0.1 million; offset by increase in dividend from collective investment schemes of RM0.3 mil as a result of higher placements in unit trust funds.

General reinsurance:
Operating revenue of this segment increased by RM1.2 million or 4.1% from RM28.3 million in 3Q17 to RM29.5 million in 3Q18, mainly due to higher gross earned premiums attributed mainly to Middle East market and an increase in investment income.

General insurance:
Operating revenue of this segment marginally increased by RM0.6 million or 0.6% from RM122.6 million in 3Q17 to RM123.2 million in 3Q18. The increase was mainly due:

-Increase of RM1.0 million in gross earned premiums mainly from Motor class; offset by

-Decrease in investment income of RM0.4 million mainly from share of investment income from MMIP of RM1.9 million and interest income of RM0.1 million; partially offset by increase in dividend income of RM1.6 million.

YTD18 vs YTD17:

Group/Consolidated:
The Group's operating revenue increased by RM21.6 million or 5.4% from RM404.1 million in YTD2017 to RM425.7 million in YTD 2018, mainly due to:

-Increase of RM20.1 million in gross earned premiums as contributed by Motor class in general insurance business and Travel class of the Philippines and Middle East markets in general reinsurance business; and

-Increase of RM1.5 million in investment income mainly due to dividend income received from unit trust funds of RM3.3 million; partially offset by lower share of investment income from MMIP of RM1.0 million and interest income of RM0.8 million.

The Group's segment profit increased from RM44.0 million in YTD2017 to RM45.5 million in YTD2018. The increase of RM1.4 million or 3.3% was due mainly to:

-Decrease in net claims incurred of RM24.3 million, arisen mainly from reduction of RM26.1 million in general insurance business as a result of favourable prior years' claims development and closure of time-barred claims on inward treaties; but offset by an increase of RM1.8 million in general reinsurance business with lower release of reserves as compared to prior year;

-Increase of RM1.5 million in investment income mainly due to dividend income received from unit trust funds of RM3.3 million; partially offset by lower share of investment income from MMIP of RM1.0 million and interest income of RM0.8 million;

-Increase in share of results in joint venture by RM0.9 million; offset by

General reinsurance:
Operating revenue of this segment increased from RM82.1 million in YTD2017 to RM86.6 million in YTD2018. The increase of RM4.5 million or 5.4% was mainly due to RM4.1 million higher gross earned premiums from the Philippines and Middle East markets and an increase of RM0.4 million in investment income.

General insurance:
There was an increase of RM18.4 million or 5.2% in operating revenue of this segment from RM353.3 million in YTD2017 to RM371.7 million in YTD2018, mainly contributed by increase of RM14.8 million in gross earned premiums of Motor class and higher investment income of RM3.6 million, mainly due to dividend income received from unit trust funds.

Profit of this segment increased by RM2.7 million or 13.3% from RM20.3 million in YTD2017 to RM23.0 million in YTD 2018, mainly due to:

-Decrease in net claims incurred of RM26.1 million due to favourable prior years claims development and closure of time-barred claims on inward treaties;

-Increase of RM3.6 million invesment income mainly due to higher dividend income of RM4.6 million, but offset by decrease in share of investment income from MMIP of RM1.0 mil;

-Increase of RM0.3 million in other operating income;

3Q18 vs 2Q18:

Group/Consolidated:
The Group's operating revenue was only RM0.2 million higher than the preceding quarter.

General reinsurance:
Operating revenue of this segment reported an increase of RM0.2 million or 0.8%, from RM29.3 million in 2Q18 to RM29.5 million in 3Q18, mainly due to higher gross earned premiums of Middle East market and higher investment income.

General insurance:
Operating revenue of this segment was only RM0.4 million higher than the preceding quarter. Profit of this segment increased by RM3.7 million or 93.9% from RM3.9 million in 2Q18 to RM7.6 million in 3Q18, mainly due to:

-Decrease in net claims incurred of RM6.5 million mainly due to favourable prior years' claims development and closure of time-barred claims on inward treaties; and

-Increase in fair value gains on investments, i.e. unit trust of RM1.3 million and realised gains on disposal of investments of RM0.3 million;

Prospects:
The Group recorded 8.7% growth in Gross Written Premiums for 3Q and 4.0% for the current financial period from both the Malaysia General Insurance and General Reinsurance businesses. The Operating Revenue increased by 1.0% for 3Q and 5.4% for the current period, while Profit After Tax decreased by 27.8% for 3Q but the year-to-date level increased marginally by 2.3%.

The Group continues to work on various short-term and long-term initiatives in its digital transformation plan to strengthen the Group’s position as a digital insurer. Towards the end of 3Q, the Group launched Sports+ which is the first on-demand protection plan for extreme sports. Moving forward from the initial investment in Laka Ltd.UK, the Group is currently exploring with the UK entity for further partnership plans in the Asia region in the Insurtech space. On the area of affinity partnerships, the Malaysia General Insurance business made further in roads into the property market with partnership deals sealed with Host A Stay and Dax Venture, to offer innovative insurance protection for homeowners. In Travel Retakaful business, the Group has increased presence in more markets in the Middle East, while it continues to expand further by the end of the year. The Group is hopeful that such initiatives in digital transformation, product innovation and affinity partnerships will further contribute to the business prospects in the future. The Group will begin to unfold its cost rationalisation plan and roll out its strategies under its business transformation plan. These strategies are envisaged to give rise to more sustainability and growth in the mid-term to long-term after the challenging initial period.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.865 in 3 months 4 day, total return is 21%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 4 months 15 days, total return is 14.5%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

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James Ng