Allianz Malaysia posts growth in Q1 driven by Life insurance subsidiary

KUALA LUMPUR, May 24 (Bernama) — Allianz Malaysia Berhad (“Allianz Malaysia” or “the Group”) announced its financial results for the first quarter of the financial year ended 31 March 2024 (Q1). The Group posted an insurance revenue of RM1.34 billion, representing an increase of 15.1% from the RM1.16 billion posted in the same period of last year. Gross Written Premiums (GWP) increased 11.7% to RM1.90 billion compared to the same period last year while Profit After Tax (PAT) surged 9.9% to RM189.8 million. Total Assets grew 10.1% to stand at RM26.79 billion from RM25.92 billion in 31 December 2023.

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