{"id":10317,"date":"2026-05-20T10:40:16","date_gmt":"2026-05-20T02:40:16","guid":{"rendered":"https:\/\/www.tuneprotect.com\/my\/?p=10317"},"modified":"2026-05-21T10:45:24","modified_gmt":"2026-05-21T02:45:24","slug":"tune-protect-delivers-resilient-1q2026-performance-amid-market-volatility","status":"publish","type":"post","link":"https:\/\/www.tuneprotect.com\/my\/2026\/05\/tune-protect-delivers-resilient-1q2026-performance-amid-market-volatility\/","title":{"rendered":"Tune Protect Delivers Resilient 1Q2026 Performance Amid Market Volatility"},"content":{"rendered":"Non-Travel Growth Provides Stability as Travel Moderates\r\n<ul>\r\n<li><strong>Commendable 1Q26 PAT of RM3.9 million:<\/strong> Coupled with a positive combined ratio of 98.5% despite lower investment income and geopolitical uncertainties.<\/li>\r\n<li><strong>GWP growth of 1.8%:<\/strong> Buoyed by growth in the non-Travel business.<\/li>\r\n<li><strong>Ancillary income improved 12.7% YoY:<\/strong>  Supporting diversification of revenue streams beyond insurance.<\/li>\r\n<\/ul>\r\n\r\n<strong>KUALA LUMPUR, 20 May 2026 \u2013 Tune Protect Group Berhad (\u201cTune Protect\u201d or \u201cGroup\u201d; TUNEPRO, 5230)<\/strong> started the year on firm footing with Profit After Tax (\u201cPAT\u201d) of RM3.9 million and a combined ratio of 98.5%, demonstrating resilience despite a more challenging macroeconomic and operating environment. Market volatility led to a moderation of insurance revenue attributed to softer performance by the Travel segment, although this was partially offset by the growth in the non-Travel segment.\r\n<br><br>\r\nThe Group recorded Gross Written Premium (\u201cGWP\u201d) of RM91.1 million, up 1.8% Year-on-Year (\u201cYoY\u201d) supported by continued strength in its non-Travel business led by the Motor segment, recording a 23.3% growth YoY. \r\n<br><br>\r\n\u201cWe began 2026 navigating a more volatile operating environment, with geopolitical developments, foreign exchange movements and market uncertainty impacting parts of our business, particularly Travel. Against this backdrop, we are encouraged by the resilience of our core fundamentals and the steady performance of our non-Travel segment,\u201d said <strong>How Kim Lian (\u201cHow\u201d), Group Chief Executive Officer of Tune Protect<\/strong>. \r\n<br><br>\r\n<strong>Resilient Core Performance Amid External Pressures<\/strong><br>\r\n\r\nTune Protect\u2019s performance in the quarter was underpinned by resilient non-Travel General Insurance (\u201cGI\u201d) performance, which helped offset softer travel contributions, weaker investment income arising from bond market volatility, and foreign exchange movements. \r\n<br><br>\r\nInsurance revenue declined 8.6% YoY to RM80.9 million due to softer Travel performance, and the higher contribution from the non-Travel segment, which is recognised over a longer earning period compared to travel insurance. \r\n<br><br>\r\nThe Group recorded a net insurance service result of RM1.3 million, while Profit Before Tax (PBT) stood at RM1.7 million, reflecting the impact of higher claims ratio driven by portfolio mix shift, lower investment income, and higher operating expenses due to foreign exchange movements.\r\n\r\n<br><br>\r\n<strong>Investment Portfolio and Market Conditions<\/strong><br>\r\n\r\nAs at 31 March 2026, the Group\u2019s investment portfolio stood at RM747.1 million, predominantly allocated to fixed income instruments through unit trust funds. \r\n<br><br>\r\nInvestment income was impacted by bond market volatility amid geopolitical tensions and rising rate expectations. As the Group continues to monitor and manage its investment portfolio to optimise yields, the focus will be on fixed income and longer duration government bonds, supported by price stability, a resilient economic environment and signs of recovery in April and May. \r\n<br><br>\r\n<img src=\"https:\/\/www.tuneprotect.com\/my\/wp-content\/uploads\/2026\/05\/Group-Performance1Q26-FinancialOverview.png\" alt=\"\">\r\n<br><br>\r\n<strong>Strong Non-Travel segment, innovative Travel offerings<\/strong><br>\r\n\r\nGWP growth of 1.8% YoY was mainly driven by the strong growth in Motor and Group Dental led by partnership and agency channels with earnings contribution to be progressively recognised over the upcoming months. Travel weightage decreased as regional travel was impacted by geopolitical uncertainties. \r\n<br><br>\r\n\u201cThe strong performance of our General Insurance portfolio, particularly in Motor and Dental coverage, together with the encouraging progress of our ancillary offerings has helped mitigate the impact on our Travel segment. We have also observed a shift and growing momentum from the business-to-business (B2B) travel agents in Malaysia.\u201d said How.   \r\n<br><br>\r\nThe Group continues to focus on growing its strategic regional businesses. In the first quarter of 2026, it has expanded its Online Travel Agency (OTA) partnership with AirPaz into Thailand and Indonesia, while adding Sri Lanka\u2019s largest OTA, Crazyjet.com. Tune Protect also launched the \u201cTravel Beyond\u201d customer platform, which allows customers to customise travel insurance with ancillary options. \r\n<br><br>\r\nValue added services lifted the Group\u2019s 1Q2026 performance with 12.7% YoY increase in ancillary income and technology fees. Travel ancillaries led the quarter, with continued strengthening of the Travel and Motor ecosystems through expanded offerings and partnerships. Headline launches included the Bundle Value Pack with Delay Lounge Pass across major ASEAN markets, alongside early travel eSIM adoption and the Airport Transfer rollout in Malaysia. Ancillary momentum is expected to accelerate through 2026 as new ancillary products and services and distribution rails scale across ASEAN.\r\n<br><br>\r\n\u201cWe have diversified the Group\u2019s ancillary income beyond the Travel segment by expanding into the Motor segment. For example, our Motor Easy customers can enjoy complimentary valet parking when they go shopping, as part of our campaign on Motor ancillary. Other Motor ancillary services in the pipeline include discounted car maintenance and battery replacement,\u201d said How.\r\n\r\n<br><br>\r\n\r\n<strong>Healthy growth of General Insurance <\/strong><br>\r\n\r\nThe Group\u2019s GI business continues to show healthy growth and profitability mainly contributed by the Motor segment. This was led by the Private Car segment, particularly Comprehensive Private Cars insurance with sum insured exceeding RM50,000. New offerings were also introduced such as the integrated residential solar and protection solution, as well as a Personal Cyber Insurance offering in partnership with a telecommunications company.\r\n<br><br>\r\nTune Protect anticipates a sustainable topline growth for its GI business to be led by profitable segments across Motor, Personal Accidents and Foreign Worker, driven by strong ecosystem partnerships.   \r\n\r\n<br><br>\r\n\r\nOutlook: Prioritising Resilience and Sustainable Growth<br>\r\n\r\nLooking ahead, the Group remains cautious in the near term, given elevated inflationary pressures, ongoing geopolitical uncertainties, and the moderation in international travel demand. To navigate this environment, Tune Protect will focus on prioritising yield and margin protection over volume, expanding domestic-focused travel offerings, accelerating ecosystem partnerships and digital distribution initiatives, and driving continued growth in non-travel and ancillary income streams. \r\n<br><br>\r\n\u201cOur focus remains on disciplined underwriting, protecting margins and scaling sustainable growth through our ecosystem. We are confident that our integrated platform, expanding partnerships and differentiated ancillary offerings will position Tune Protect to navigate near-term volatility while capturing long-term opportunities,\u201d How concluded. \r\n\r\n","protected":false},"excerpt":{"rendered":"Non-Travel Growth Provides Stability as Travel Moderates Commendable 1Q26 PAT of RM3.9 million: Coupled with a positive combined ratio of 98.5% despite lower investment income and geopolitical uncertainties. GWP growth of 1.8%: Buoyed by growth in the non-Travel business. Ancillary income improved 12.7% YoY: Supporting diversification of revenue streams beyond insurance. KUALA LUMPUR, 20 May [&hellip;]","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/posts\/10317"}],"collection":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/comments?post=10317"}],"version-history":[{"count":2,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/posts\/10317\/revisions"}],"predecessor-version":[{"id":10324,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/posts\/10317\/revisions\/10324"}],"wp:attachment":[{"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/media?parent=10317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/categories?post=10317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tuneprotect.com\/my\/wp-api\/wp\/v2\/tags?post=10317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}