KUALA LUMPUR: Allianz Malaysia Bhd’s pre-tax profit increased 24.9% to RM423.53 million for the financial year ended December 31, 2014 from RM339.23 million a year earlier.
Operating revenue rose to RM4.38 billion from RM3.65 billion previously due to higher gross earned premiums and investment income, the company said in its filing to Bursa Malaysia.
In a separate statement, Allianz Malaysia said the group’s general insurance subsidiary, Allianz General Insurance Company (Malaysia) Bhd continued to lead the way as the number one general insurer in Malaysia with a market share of 12.4%.
Allianz General hit the RM2 billion mark in Gross Written Premium (GWP), recording RM2.13 billion in GWP last year compared with RM1.98 billion in 2013.
Its life insurance subsidiary, Allianz Life Insurance Malaysia Bhd continued to grow on a fast track with a 14.6% increase in GWP to RM1.83 billion last year from RM1.60 billion in 2013. – Bernama, February 27, 2015.
