- Allianz Malaysia Berhad (Allianz Malaysia) Group today reported earnings for the financial year 2021. The Group ended 2021 with a 7.2 percent growth in Gross Written Premiums (GWP) to RM5.69 billion as compared to RM5.31 billion from the year before. Profit Before Tax (PBT) dipped 14.3 percent to RM625.6 million in 2021 as compared to RM729.6 million in 2020. The Group’s Total Assets increased 8.0 percent to RM23.64 billion in 2021 as compared to RM21.90 billion in 2020.
- Allianz Malaysia Chief Executive Officer, Sean Wang, said: “It was a rollercoaster year in 2021, as we experienced highs with the reopening of the economy and implementation of the National Recovery Plan and lows as we were impacted by further lockdowns and then lowest of lows when the country was hit with devastating floods in December. Facing these challenges, our general and life insurance business remained adaptable and rallied to deliver resilient overall results, with higher gross GWP and investment income, notwithstanding lower profit contribution from life insurance segment. Resilience will continue to be key for the business moving forward as we remain focused on our collective goals to outperform the market and continue to build profitable businesses in 2022.”
- Allianz General rallies back; earns RM2.43 billion in GWP
- AMB’s general insurance subsidiary; Allianz General Insurance Company (Malaysia) Berhad (Allianz General)’s GWP took in RM2.43 billion in 2021 as compared to RM2.36 billion in 2020, an increase of 3.2 percent. Underwriting Profit grew by 9.1 percent to RM257.1 million in 2021 from RM235.6 million in 2020. PBT improved by 1.2 percent in 2021 to RM437.2 million from RM432.1 million the previous year. Total Assets increased by 7.1 percent to RM7.36 billion in 2021 from RM6.87 billion in 2020 while the Combined Ratio in 2021 improved to 87.8 percent as compared to 88.4 percent in 2020.
- Allianz Life full-year GWP surges to RM3.26 million; securing 4th in market rank
- The life insurance subsidiary of the Group; Allianz Life Insurance Malaysia Berhad (Allianz Life) ended 2021, recording a 10.5 percent growth in GWP to RM3.26 billion in 2021 from RM2.95 billion in 2020. Its New Business Premiums (ANP) rose by 29.2 percent in 2021 to RM687.2 million from RM531.8 million in 2020. PBT dipped by 28.6 percent in 2021 to RM220.5 million compared to RM308.7 million the previous year. Total Assets increased 8.7 percent to RM15.63 billion in 2021 from RM14.37 billion in 2020. Based on Life Insurance Association of Malaysia (LIAM) statistics for 2021, Allianz Life secured fourth position among the life insurance segment, registering an improved 9.0 percent market share in 2021 from 7.7 percent in 2020.
- Please find attached a press release on this announcement and accompanying photos with caption.
Allianz Malaysia Berhad Chief Executive Officer Sean Wang said that resilience will be key for the business in 2022
Allianz Malaysia Berhad recorded RM5.69 billion in Gross Written Premiums (GWP) in 2021. The Company’s Head Office is located at Menara Allianz Sentral along Jalan Tun Sambanthan, Kuala Lumpur.
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