Allianz Malaysia 1Q Net Profit Rises To RM211.69 Mln
KUALA LUMPUR, May 23 (Bernama) -- Allianz Malaysia Bhd’s net profit rose by 11.5 per cent to RM211.69 million during the first quarter ended March 31, 2025 (1Q 2025), compared to RM189.83 million in the corresponding quarter last year, mainly due to higher profit contribution from both insurance segments.
Revenue also grew by 14.3 per cent to RM1.53 billion against RM1.34 billion previously, attributable to higher insurance revenue from both general and life insurance segments.
In a filing with Bursa Malaysia today, Allianz said the general insurance segment delivered a profit before tax of RM159.7 million, mainly driven by higher net insurance and investment results for the current quarter under review.
It said the life insurance segment recorded a higher profit before tax of RM126.9 million, mainly due to higher net insurance and investment results, offset by lower other operating income from investment-linked protection and employee benefits business.
“However, the investment holding segment registered a loss before tax of RM2.9 million for the three months ended March 31, 2025, due mainly to lower expenses,” it said.
On prospects, Allianz said it is focused on expanding its distribution channels by driving agency transformation, emphasising high-quality recruitment, agent productivity and retention, and actively steering its portfolio towards a more profitable product mix to accelerate sustainable growth and enhance return on equity.
“We will continue to adapt our strategy in response to market changes, strengthen claims management, and enforce disciplined expense management as the key levers of our profitability strategy,” it added.
-- BERNAMA