Allianz Malaysia Q2 net profit rises to RM90mil

PETALING JAYA: Allianz Malaysia Bhd’s (AMB) net profit for its second quarter ended June 30, 2018 increased 35% to RM89.87mil from RM66.48mil in the previous corresponding period, mainly due to lower management expenses ratio from lower impairment of insurance receivables.

In a filing with Bursa Malaysia yesterday, AMB said the life insurance segment recorded a higher pre-tax profit of RM40.5mil, an increase of 31.9% or RM9.8mil compared with the previous corresponding period, due mainly to higher contribution from its protection business.