Allianz Malaysia Berhad (AMB) Group announced its results for the first nine months of 2017, which recorded a total of RM3.24 billion (bn) in the Group’s Gross Written Premiums (GWP) from January to September 2017 (2.9% increase). The Group’s total assets also grew 9.7% to RM16.33 bn during the same period (RM14.88 bn last year), while its profit before tax stood at RM310.9 million (mn) compared to RM333.6 mn last year.
Zakri Khir, CEO of AMB stated: “The Malaysian economy’s resilient growth in the third quarter of 2017 has continued to strengthen business and consumer sentiments. With that said, Allianz Malaysia achieved RM3.24 bn in GWP in the first nine months of 2017, backed by our ability to come together and be quick to deploy simple and targeted solutions that answers the needs of our customers.
Meanwhile, Allianz General Insurance Company (Malaysia) Berhad’s recorded a 12.1% market share and registered a GWP of RM1.64 bn in Q3 2017 (compared to 11.9% and RM1.62 bn in 2016). However, its profit before tax reached RM199.5 mn as of September 2017 compared to RM246.6 mn last year, despite its total assets rose 2.7% to RM6.04 bn from RM5.88 bn during the same period.
Furthermore, Allianz Life Insurance Malaysia Berhad continues to grow up to 4.6% in GWP to RM1.60 bn from RM1.53 bn, while its New Business Premiums also improved by 21.0% to a total of RM 324.8 mn. Profit before tax saw a 26.0% increase to RM113.4 mn and its total assets rose by 14.6% to RM9.88 bn.