Allianz 1Q net profit rises to RM172.69mil

KUALA LUMPUR: Allianz Malaysia Bhd's net profit rose to RM172.69 million in the first quarter ended March 31, 2023 (1Q 2023) from RM150.54 million in the corresponding quarter last year on higher contribution from the general insurance segment.

Revenue also improved to RM1.16 billion in 1Q 2023 from RM1.06 billion previously, mainly due to higher insurance revenue from both general and life insurance segments, it said in a filing to Bursa Malaysia today.