Allianz Malaysia Bhd. · MYX:ALLIANZ
Allianz Malaysia Bhd — Q1 2026 Earnings Presentation
31 slides from Allianz Malaysia Bhd's earnings presentation, May 26, 2026
Slide 1: Allianz Malaysia Berhad Q1 2026 Financial Results Analyst Briefing
ALLIANZ MALAYSIA BERHAD (197201000819) Q1 2026 FINANCIAL RESULTS Analyst Briefing 26 May 2026 © Copyright Allianz Malaysia Berhad
Slide 2: AMB Group Financial Results
01 AMB GROUP FINANCIAL RESULTS © Copyright Allianz Malaysia Berhad 2
Slide 3: Financial Highlights 3M 2026
FINANCIAL HIGHLIGHTS 3M 2026 Group General Insurance Life Insurance Investment Holding Investment Holding Gross Written Premium (RM’mil) 2,285.0 (+13.7%) 1,064.2 (+8.8%) 1,220.8 (+18.4%) Insurance Revenue (RM’mil) 1,631.4 (+6.7%) 918.3 (+6.5%) 713.1 (+7.0%) Profit Before Tax (RM’mil) 284.2 (-0.2%) 1
Slide 4: Robust Top Line Growth and Resilient Earnings
ROBUST TOP LINE GROWTH AND RESILIENT EARNINGS Comments Insurance revenue Profitability • Group insurance revenue of RM1.63 billion, an increase of 6.7% • Group profit before tax remained resilient at RM284.2 million (3M from RM1.53 billion in 2025 due to strong insurance revenue from 2025: RM284.9 m
Slide 5: Financial Highlights 3M 2026: Gross Written Premium
FINANCIAL HIGHLIGHTS 3M 2026 Group General Insurance Gross Written Premium (“GWP”) (RM’mil) +8.8% +13.7% 978.0 1,064.2 2,285.0 6,546.5 2,008.8 1,064.2 3M 25 3M 26 978.0 Life Insurance +18.4% 1,220.8 1,220.8 1,030.8 1,030.8 3M 25 3M 26 Life Insurance General Insurance 3M 25 3M 26 © Copyright Allianz
Slide 6: Financial Highlights 3M 2026: Insurance Revenue
FINANCIAL HIGHLIGHTS 3M 2026 Group General Insurance Insurance Revenue (RM’mil) +6.5% +6.7% 918.3 862.5 1,631.4 1,528.7 3M 25 3M 26 918.3 862.5 Life Insurance +7.0% 713.1 666.2 666.2 713.1 3M 25 3M 26 Life Insurance General Insurance 3M 25 3M 26 © Copyright Allianz Malaysia Berhad 6
Slide 7: Financial Highlights 3M 2026: Profit Drivers
FINANCIAL HIGHLIGHTS 3M 2026 Profit Before Tax drivers (RM’mil) Profit After Tax drivers (RM’mil) -0.2% +6.7% 284.9 1.1 4.9 284.2 5.1 227.3 213.0 14.5 (6.7) (5.3) 3M 25 General General… Life Investment Investment… 3M 26 3M 25 General General… Life Investment Investment… 3M 26 PBT 3M 25 Insurance Lif
Slide 8: Life Business: CSM Growth Solid at 1.3%
LIFE BUSINESS: CSM GROWTH SOLID AT 1.3% Contractual Service Margin (RM’mil) +1.3% 47.8 163.5 (32.7) 1 CSM (net) 2,498.3 3,773.5 3,725.3 Reinsurance 156.0 (130.4) Non-attributable cost 330.3 Tax 788.9 CSM (gross) 3,773.5 VNB (3M 26) 124.12 + Non-attr. Cost 43.8 - Scope / other (4.4) = New business @
Slide 9: Financial Overview
FINANCIAL OVERVIEW 2 Year CAGR RM’mil 2023 2024 2025 3M 2025 3M 2026 (2023 – 2025) Gross Written Premiums 6,546.5 7,244.8 7,689.5 8.4% 2,008.8 2,285.0 CSM Release 433.1 487.1 510.1 8.5% 122.3 130.4 Expense Ratio (Non Life)1 26.3% 25.4% 25.6% (0.7 pts) 22.8% 25.0% Expense Ratio (Life)2 12.1% 11.2% 10
Slide 10: Summary of Unaudited Financial Results
SUMMARY OF UNAUDITED FINANCIAL RESULTS RM’mil 3M 2025 3M 2026 26/25 % Insurance revenue 1,528.7 1,631.4 6.7% Claims and benefits (774.3) (856.3) 10.6% Acquisition and administrative expenses (net) (339.3) (382.9) 12.8% Losses on onerous contracts (5.3) (2.0) (62.3%) Insurance service expenses (1,11
Slide 11: General Business
02 GENERAL BUSINESS © Copyright Allianz Malaysia Berhad 11
Slide 12: General Business: Strategic Execution, Tangible Results
GENERAL BUSINESS: STRATEGIC EXECUTION, TANGIBLE RESULTS 1 Market Share 15.6% +8.9% Outperformance GI Market Share (Rolling 12M) GWP Growth Strong growth amid industry (+0.5%pts vs LY) (GI Industry: -1.1%) headwinds 2 8 25.4% No.1 Market Leader in E DRIVER Process Optimisation ALU Leverage on digital
Slide 13: General Business Comments
GENERAL BUSINESS Comments Gross written premiums Combined ratio • Continued growth momentum in the first quarter with gross • Combined ratio stood at 87.2% (1Q 2025: 85.8%). Claims ratio written premium increased by 8.8% as compared to prior improved by 0.8 pts to 62.2% (1Q 2025: 63.0%), offset by y
Slide 14: General Business: Good Sales Momentum Driven by Motor
GENERAL BUSINESS: GOOD SALES MOMENTUM DRIVEN BY MOTOR WITH HIGHER GWP GROWTH Gross Written Premium (RM’mil) Distribution Channel & Portfolio Mix +8.8% Telemarketing 1.8% 1,064.2 Agent 58.0% 978.0 Broker 11.0% Banca 1.7% Franchise 27.5% 1,064.2 Fire 978.0 12.4% Marine 1.5% PA & Health 6.2% Total 1,06
Slide 15: General Business: Investment Income Broadly Consistent
GENERAL BUSINESS: INVESTMENT INCOME BROADLY CONSISTENT Net investment income/ Net (re-)insurance finance expenses Portfolio Mix and Investment Yield (Annualised) (RM’mil) -3.1% Portfolio Mix Investment Yield * 42.2 40.9 Deposit 4.0 2.5 11.4% Unquoted Unit Trust 25.1% 63.8 67.2 Total 7,747.7 3.6% 3.6
Slide 16: General Business: Lower PBT Due to Higher Insurance Service Expenses
GENERAL BUSINESS: LOWER PBT DUE TO HIGHER INSURANCE SERVICE EXPENSES Profit Before Tax (RM’mil) PBT Drivers (RM’mil) -4.2% 160.9 1.0 1.9 154.2 160.9 (9.6) 154.2 160.9 154.2 3M 25 Insurance… Insurance Net Others Others 3M 26 3M 25 service investment Net… 3M 26 results income 3M 2025 132.1 67.8 (39.0)
Slide 17: General Business: Higher Combined Ratio
GENERAL BUSINESS: HIGHER COMBINED RATIO DUE TO HIGHER EXPENSE RATIO OFFSET BY BETTER CLAIMS RATIO Combined Ratio +1.4 pts Discounting impact -3.1% Discounting impact -2.5% 85.8% 87.2% 22.8% 25.0% * * 63.0% 62.2% 3M 25 3M 26 Claims Ratio Expense Ratio * Include reinsurance results - reinsurance ratio
Slide 18: General Business: Financial Results at a Glance
GENERAL BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 3M 2025 3M 2026 26/25 % Insurance revenue 862.5 918.3 6.5% Claims (463.3) (504.7) 8.9% Acquisition and administrative expenses (net) (186.9) (214.1) 14.6% Losses on onerous contracts (1.5) (1.6) 6.7% Net expenses from reinsurance contracts held
Slide 19: General Business: Performance Compared to Industry
GENERAL BUSINESS: PERFORMANCE COMPARED TO INDUSTRY (JAN-MAR 2026) AGIC 1 Industry 1 Takaful 1 KPIs 3M 2026 3M 2026 3M 2026 GWP growth 8.9% -1.1% 7.8% Market Share (Rolling 12M) 2 15.6% Market Ranking (12M 2025) 3 No. 1 Notes: 1) Source: ISM Market PerformanceReport Jan-Mar 2026 (General Insurance &
Slide 20: Life Business
03 LIFE BUSINESS © Copyright Allianz Malaysia Berhad 20
Slide 21: Life Business: Strategic Execution, Tangible Results
LIFE BUSINESS: STRATEGIC EXECUTION, TANGIBLE RESULTS 1 13.3% +45.2% Market Share Company Market Share Agency Growth Outperformance (+1.9% vs LY) (Industry: +17.3%) Outpaced industry in all channels. 2 8 Process Optimisation 124.1mn ▪ Agency – Promote new medical Fast Start Distribution ALU E DRIVER
Slide 22: Life Business Comments
LIFE BUSINESS Comments Gross written premiums Product mix • Gross written premiums grew by 18.4% with growth from • Remain focused on sales of investment-linked products with Bancassurance (+54.1%) and Employee Benefit (+27.5%). protection rider which provides higher margins but to also cater for de
Slide 23: Life Business: Growth Driven by Single and Recurring Premium
LIFE BUSINESS: GROWTH DRIVEN BY SINGLE PREMIUM AND RECURRING PREMIUM Gross Written Premiums (“GWP”) (RM’mil) GWP Mix & Growth (%) (3M 2026) +18.4% Mix Single 1,220.8 Premium 29.8% 1,030.8 1,030.8 Total 1,220.8 Recurring Premium 70.2% 856.9 Growth 806.4 62.2% 363.9 224.4 3M 25 3M 26 6.3% Single Premi
Slide 24: Life Business: Higher PBT Due to Higher Insurance Service Result
LIFE BUSINESS: HIGHER PBT DUE TO HIGHER INSURANCE SERVICE RESULT Profit Before Tax (RM’mil) PBT Drivers (RM’mil) +0.9% 4.9 126.9 128.0 (3.8) 126.9 128.0 126.9 128.0 3M 25 Insurance Insurance … Net investment 3M26 3M 26 3M 25 service expenses… Net investment results and others 3M 2025 183.7 (56.8) 12
Slide 25: Life Business: ANP Growth from Agency and Employee Benefits
LIFE BUSINESS: GROWTH IN ANP CONTRIBUTED BY AGENCY AND EMPLOYEE BENEFITS, OUTPERFORMING THE INDUSTRY Annualised New Premiums (“ANP”) (RM’mil) ANP Channel Mix (%) (3M 2026) +23.2% 263.1 27.0 Bancassurance/Direct 213.5 Marketing 213.5 31.6% 20.9 83.1 Growth -4.7% 87.2 Total 263.1 Agency 58.1% Corporat
Slide 26: Life Business (Agency): Focus on Regular Investment-Linked Products
LIFE BUSINESS (AGENCY): CONTINUE FOCUS ON PREFERRED SEGMENT OF REGULAR INVESTMENT-LINKED PRODUCTS WITH BETTER MARGINS Agency Annualised New Premiums (RM’mil) Total: Agency Product Mix (%) (3M 2026) Q1 +45.2% +45.2% By ANP By Policy Count IL: Traditional 524.8 8.9% Traditional 153.0 Q1 +56.0% 153.0 3
Slide 27: Life Business: Investment-Linked with Protection Features Continues to Grow
LIFE BUSINESS: INVESTMENT-LINKED WITH PROTECTION FEATURES CONTINUES TO GROW Annualised New Premiums (RM’mil) Gross Written Premiums (RM’mil) +18.6% +19.9% 765.4 183.0 154.3 638.5 765.4 183.0 154.3 638.5 3M 25 3M 26 3M 25 3M 26 © Copyright Allianz Malaysia Berhad 27
Slide 28: Life Business: Higher Investment Income from Fair Value Gains
LIFE BUSINESS: HIGHER INVESTMENT INCOME DRIVEN BY FAIR VALUE GAINS FROM FAVOURABLE MARKET CONDITION Investment (Expenses)/Income by Portfolio Mix and Investment Yield (LF) (%) funds (RM’mil) Investment Yield Portfolio Mix (Annualised) >100% Cash Others 9.8% 0.4% (183.7) 40.1 Equities 6.7% Govt Bonds
Slide 29: Life Business: Financial Results at a Glance
LIFE BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 3M 2025 3M 2026 26/25 % Insurance revenue 666.2 713.1 7.0% - Release contractual service margin 122.3 130.4 6.6% - Release of expected cash flows, risk adjustments and others 543.9 582.7 7.1% Claims and benefits (310.9) (351.4) 13.0% Acquisition a
Slide 30: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION © Copyright Allianz Malaysia Berhad
Slide 31: Disclaimer
DISCLAIMER These assessments are, as always, subject to the disclaimer provided below. Cautionary Note Regarding Forward-LookingStatements The statements contained herein may include statements of future expectations and Union, (xi) changes in the policies of central banks and/or foreign governments
Allianz Malaysia Berhad — Q1 2026 Earnings Presentation on 6ix