KUALA LUMPUR, Nov 22 — Allianz Malaysia Bhd’s net profit for the third quarter ended Sept 30, 2018 (Q3) increased to RM99.87 million from RM67.52 million registered in the corresponding period last year.
Revenue in Q3 rose to RM1.30 billion from RM1.18 billion chalked up previously.
Allianz Malaysia Bhd Chief Executive Officer Zakri Khir said despite market challenges, the company remained resilient for the first nine months of the year with a profit of RM276.98 million and a revenue of RM3.87 billion.
“For Allianz General, we are buoyed by the growth and profitability of our non-motor business and the outlook of the business will largely depend on consumer behaviour in the coming months,” he said.
As for Allianz Life insurance, it continued its strong growth and ranked fifth among the life insurance segment, registering an 8.7 per cent market share, based on Life Insurance Association of Malaysia statistics for January to September 2018.
“This is an increase of 1.3 per cent from the year before, as it looks towards establishing a stronger foothold in the industry,” he added. — Bernama
