Allianz projects weak growth for motor insurance this year

Chief executive officer Zakri Khir said Phase One of Movement Control under the National Recovery Plan for the whole of this month has had an adverse effect on the motor industry.

KUALA LUMPUR: Allianz Malaysia Bhd has projected a weak growth for motor insurance this year in line with the slump in vehicle sales during the lockdown period.

Chief executive officer Zakri Khir said Phase One of Movement Control under the National Recovery Plan for the whole of this month has had an adverse effect on the motor industry.

"In June, for example, there has been zero car sales because people are not performing any transactions,” he said during a media roundtable today.