ALLIANZ MALAYSIA CONTINUES STRONG GROWTH
Source: Allianz Malaysia Berhad Press Release, 22 November 2013
Allianz Malaysia Berhad (AMB) Group showed continuous solid growth in the first nine months of 2013, assuring that it will experience an optimistic closure for the year. A total of RM2.67 billion was recorded in Gross Written Premium (GWP) in the first nine months of 2013 by the firm, compared to RM2.27 billion last year, which indicated a leap of 17.6 per cent. Profit before tax showed a significant increase of 16.2 per cent to RM270.6 million from RM232.9 million last year. The group’s total assets grew by 15.9 per cent at RM10.31 billion this year, as compared to RM8.89 billion last year. AMB CEO, Jens Reisch said, “Our continuous growth factor demonstrates that our business models in both our general and life insurance companies are resilient, keeping us well on track to reach our full-year targets. Through profitable growth, we create a sustainable value for all our stakeholders.” Allianz General Insurance Co. (Malaysia) Berhad, the general insurance subsidy of the group continues to pave the way as one of the leading general insurer in the country with a market share of 12.2 per cent. Allianz General recorded RM1.55 billion in GWP in the first nine months of 2013, while last year it recorded RM1.33 billion. The underwriting profit increased by 22.1 per cent; to RM134.1 million in the first nine months of 2013 from RM109.9 million in 2012. The group’s life insurance subsidy, Allianz Life Insurance Malaysia Berhad, showed a 19.3 per cent increase in GWP by touching the 1 billion mark at RM1.12 billion this year from RM938.1 million last year. New business premiums also grew to RM230.7 million in the first nine months of this year as compared to RM191.8 million last year. Allianz Life went up two spots and currently holds one of the top five positions in the market, with a market share of 7.0 per cent. The Group sees branding as an important initiative and launched its 2013 global One Campaign initiative this last September. The campaign focuses on the Allianz brand name while it continues to emphasise on Allianz’s service delivery. Allianz Malaysia is further strengthening its brand recognition and awareness not only through conventional media, but also through a greater presence in the digital and social media platform to reach out to its target audience more effectively. Netizens are connected with Allianz specifically through Youtube, SEM and digital banners.