Allianz Malaysia 3Q earnings increase 28%

PETALING JAYA: Allianz Malaysia Bhd is aiming to drive growth via agency expansion by intensifying recruitment efforts and accelerating digital adoption among agents.

At the same time, the insurer said it is also focusing on underwriting excellence by optimising its product mix and also through the application of technical precision.

Releasing its results for the third quarter (3Q25) and nine months (9M25) ended September yesterday, Allianz Malaysia saw net profit for 3Q25 jumping 27.8% year-on-year (y-o-y) to RM234.2mil, as revenue also climbed 10% to RM1.58bil.

For 9M25, the net profit for the group rose 22.4% y-o-y to RM661.2mil, as turnover also increased 11.7% to RM4.63bil.

The insurer credited higher insurance income from its general and life segments for the improved y-o-y results from both the 3Q25 and 9M25 perspectives.

It commented that an increase in gross earned premiums from the motor business, as well as higher insurance revenue from investment-linked protection and employee benefit business had driven revenue up.

On the stronger profitability in 3Q25 and 9M25, Allianz Malaysia said stronger profits in the general segment were primarily due to “better claims experience and higher net insurance and investment results”.

Meanwhile, compared to the preceding quarter ended June 30, net profit increased by 9.4% from RM214mil, while revenue was also 4.2% stronger from RM1.52bil.

In addition to the factors mentioned above, the group said “higher insurance service result, supported by continued discipline in cost control and expense optimisation” also contributed to the sequential improvement in its life insurance income.

The group’s balance sheet also strengthened, with total assets rising to RM30bil as at September 2025 from RM28.49bil at end-2024, driven mainly by higher investments.

Total equity grew 8.8% to RM6.34bil, supported by the strong net profit generated during the period. Insurance contract liabilities increased in line with business expansion, rising to RM22.09bil from RM21.22bil at end-2024

Having declared a dividend of 63 sen per share for 2Q25, Allianz Malaysia did not declare dividends for the quarter in review.

“We implement disciplined claims management and cost containment measures to address medical inflation. Our strategy is anchored in digital innovation and transformation, empowering us to deliver superior customer experiences and foster deeper connections.

“The group remains focused on executing its strategic initiatives, achieving positive financial performance and create long-term value for our stakeholders,” it added.

On a separate note, Allianz Malaysia announced the appointment of Italian national Giulio Slavich as chief executive of Allianz Life Insurance Malaysia Bhd – a full subsidiary of Allianz Malaysia – from Jan 1, 2026.

Slavich is currently the chief financial officer (CFO) of Allianz Malaysia since August 2022, but will be replaced by Chin Xiao Wei as CFO come Jan 1.

Both Slavich and Chin held actuarial positions, with the former having been with the international Allianz Group since 2014, with stints in various countries including Italy, Germany and the Philippines before arriving in Malaysia.

At 5pm yesterday, Allianz Malaysia’s share price closed unchanged at RM18.08.