KUALA LUMPUR: Allianz Malaysia Bhd
’s web revenue jumped to RM101.32 million within the first quarter ended March 31, 2022 from RM63.26 million in the identical interval a 12 months earlier, primarily on account of revenue contribution from life and common insurance coverage segments.
Revenue for the quarter additionally elevated to RM1.71 billion from RM1.61 billion year-on-year, primarily on account of larger gross earned premiums and funding revenue by RM87.8 million and RM13.3 million respectively.
In an announcement at the moment, Allianz Malaysia chief government officer Sean Wang mentioned the group would proceed to search out methods to stay agile in driving enterprise and profitability, innovate and speed up transformation to remain forward of the sport.
The group recorded complete gross written premiums (GWP) of RM1.62 billion for the first quarter of 2022, a 9.5 per cent improve from RM1.48 billion in the identical interval final 12 months, whereas its complete belongings grew by 10.2 per cent to RM23.92 billion for the first three months of 2022 in comparison with RM21.71 billion final 12 months.
Allianz Malaysia’s life insurance coverage subsidiary Allianz Life Insurance Malaysia Bhd registered a GWP of RM888.8 million within the first quarter of 2022, a 7.7 per cent improve from the RM825.6 million it achieved within the first quarter of 2021.
However, annualised new enterprise premiums dipped 14.1 per cent to RM147.1 million within the first three months of 2022 from RM171.3 million within the corresponding interval of 2021 primarily on account of weak market sentiments.
Allianz Malaysia’s common insurance coverage subsidiary; Allianz General Insurance Company (Malaysia) Bhd recorded RM733.7 million GWP within the first quarter of 2022, an 11.8 per cent improve from RM656.4 million in 2021. – Bernama
