Allianz Malaysia Berhad (ALLIANZ) Q1 2025 earnings summary

Executive summary

• Insurance revenue rose 14.3% year-over-year to RM1.53 billion for Q1 2025, driven by growth in both general and life insurance segments.

• Profit before tax increased 13.0% year-over-year to RM283.7 million, with net profit attributable to owners up 11.5% to RM211.7 million.

• Total assets grew 0.3% to RM28.59 billion, while total equity increased 4.2% to RM6.07 billion as of 31 March 2025.

Financial highlights

• General insurance revenue up 14.3% year-over-year to RM862.5 million; life insurance revenue up 14.4% to RM666.2 million.

• General insurance profit before tax up 20.7% to RM159.7 million; life insurance profit before tax up 3.8% to RM126.9 million.

• Combined ratio for general insurance improved to 85.8% from 87.0% year-over-year.

• Basic EPS rose to 117.79 sen (Q1 2024: 106.66 sen); diluted EPS at 61.26 sen (Q1 2024: 54.83 sen).

• Net investment income swung to a loss of RM113.2 million from a gain of RM524.3 million year-over-year, mainly due to fair value losses on FVTPL investments.

Outlook and guidance

• The group expects continued growth, focusing on agency transformation, digital investment, and disciplined expense management.

• General insurance premium growth outpaced industry at 11.1% versus 2.6%; life insurance new business declined 9.1%, less than the industry’s 9.6% drop.

• The group will adapt strategies to market changes and regulatory measures, aiming for sustainable and profitable growth.