KUALA LUMPUR: Allianz Life Insurance Malaysia Bhd yesterday launched its first single premium investment-linked product which invests in international blue-chip companies.
The Global High Payout Plan will be managed by Allianz Global Investors (AGI), the second largest asset management company in the world and a member company of insurance giant Allianz group.
Allianz Life chief executive officer Chris James said premiums from the Global High Payout Plan would be invested in an underlying fund, Allianz GI Global High Payout Fund, which was rated four stars by Mercer Investment Consulting (Singapore) and aimed to generate a projected dividend payout of 6% to 8% per annum.
“This will be achieved by practising the unique two-part 'BuyWrite' strategy; first by investing in global high dividend stocks and second, by selling covered call options on the underlying stocks to generate additional income. This approach is less volatile and more diversified than direct investments in stocks,'' he added.
As at Oct 31, 2005, adopting this strategy, AGI's assets under management stood at US$4bil in the US and Europe .
Providing policyholders protection and potential earnings from investments, the new product also gave customers access to top-class global stocks and the expertise of a world-class asset manager without having to pay high fees, James said.
He said that with exposure to these global winners, the investment portion of this product would be more diversified and have more potential for higher returns.
The product is available for a limited period, from March 27 to May 24, or upon full subscription, whichever is earlier.
The company currently offers a comprehensive range of life insurance, health insurance and investment products through agents, bancassurance, direct marketing and brokers.
One of the country’s fastest growing life insurance companies, Allianz Life last year recorded total gross written premiums of RM495mil and total assets of RM1.11bil.
AGI has more than 900 investment professionals in over 30 countries and has extensive experience in managing assets for central banks, government-related institutions, pension funds, insurance companies, and other institutional clients. Total investment made by AGI as of June 30 last year was US$1.45 trillion.
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