AL­LIANZ MALAYSIA RECORDS RM2 BILLION IN GWP IN Q2

Insurance - - INDUSTRY UPDATES - Source: Al­lianz Malaysia, 17 Au­gust 2017

A to­tal of RM2.2 billion was recorded in Al­lianz Malaysia Ber­had Group’s Gross Writ­ten Pre­mi­ums (GWP) from Jan­uary to June this year, a 3.9% in­crease from last year.

The Group’s to­tal as­sets grew 10.5% to RM15.86 billion in the first six months while profit be­fore tax stood at RM213.7 mil­lion.

Its CEO Zakri Khir said: “Busi­ness and consumer sen­ti­ments have im­proved for the sec­ond quar­ter of 2017, given how Malaysia’s econ­omy is cur­rently on a growth tra­jec­tory driven by do­mes­tic de­mand and strength­en­ing ex­ports. Al­lianz Malaysia achieved RM2.2 billion in GWP in the first six months of 2017, ow­ing to our var­ied prod­uct op­tions, flex­i­bil­ity, and strong strate­gic part­ners in the dig­i­tal space that has en­able us to con­tin­u­ously de­liver the best value for our cus­tomers.”

Al­lianz Gen­eral In­surance Com­pany (Malaysia) Ber­had’s (Al­lianz Gen­eral) GWP reg­is­tered in RM1.11 billion in the sec­ond quar­ter of 2017 while profit be­fore tax was at RM148.8 mil­lion in the first six months of 2017. To­tal As­sets rose 2.3% to RM5.89 billion in the sec­ond quar­ter of 2017. Com­bined Ra­tio stood at 92.3% in 2017. Al­lianz Life In­surance Malaysia Ber­had recorded a 5.7% in­crease in GWP to RM1.08 billion in the first six months of 2017. Its New Busi­ness Pre­mi­ums im­proved by 27.4% to a to­tal of RM222.5 mil­lion in the sec­ond quar­ter of 2017.

Profit be­fore tax saw a 23% in­crease to RM66.9 mil­lion from Jan­uary to June this year while to­tal as­sets rose by 16.4% to RM9.56 billion in the first six months of 2017.

Al­lianz Life holds the fifth po­si­tion in the life in­surance seg­ment, reg­is­ter­ing a 7.6 % mar­ket share based on Life In­surance As­so­ci­a­tion of Malaysia's sta­tis­tics for Jan­uary to June 2017.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.