Allianz records strong first quarter performance

Allianz Malaysia Bhd chief executive officer Sean Wang

KUALA LUMPUR: Allianz Malaysia Bhd’s net profit jumped to RM101.32 million in the first quarter ended March 31, 2022 from RM63.26 million in the same period a year earlier, mainly due to profit contribution from life and general insurance segments.

Revenue for the quarter also increased to RM1.71 billion from RM1.61 billion year-on-year, mainly due to higher gross earned premiums and investment income by RM87.8 million and RM13.3 million respectively.