ALLIANZ MALAYSIA RECORDS RM2 BILLION IN GWP IN Q2
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.