Allianz Malaysia Bhd Group recorded a total of RM2.78 billion in Gross Written Premiums (GWP) in the first six months of 2021, an 8.6 percent increase as compared to RM2.56 billion it achieved in the same corresponding period in 2020.
The Group’s Total Assets grew by 8.7 percent to RM22.29 billion as at June 2021 compared to RM20.51 billion amassed last year. Profit Before Tax eased by 19.6 percent to RM273.7 million in the first half of this year, as compared to RM340.5 million that was achieved in the same corresponding period last year.
Allianz Malaysia CEO, Zakri Khir, says while the Group continues to deliver resilient results, and remain conscious of the fluidity of the current business environment and will continue to employ short-term strategies to move in tandem with uncertainties and challenges that may come its way.
Allianz Malaysia’s general insurance subsidiary, Allianz General Insurance Company (Malaysia) Bhd’s (Allianz General) GWP registered RM1.19 billion in the first half of 2021, an increase of 4.7 percent from RM1.14 billion in 2020.
Underwriting Result rose 21.9 percent to RM119.8 million in the first half of this year from RM98.3 million in the first half of last year while Profit Before Tax improved by 7.1 percent to RM207.6 million in the first six months of 2021 from RM193.9 million in the previous year.
The life insurance subsidiary of the Group, Allianz Life Insurance Malaysia Berhad (Allianz Life) continues to chart positive growth, recording a 11.6 percent increase in GWP to RM1.59 billion in the first half of 2021 from RM1.42 billion in 2020.
Its Annualised New Premiums rose by 51.5 percent to a total of RM323.3 million in the first half of 2021 from RM213.4 million in 2020 while Profit Before Tax dipped by 50.5 percent to RM76.7 million in the first six months of this year compared to RM155.1 million achieved in 2020.
