Allianz Malaysia Bhd. · MYX:ALLIANZ

Allianz Malaysia Bhd — FY2025 Earnings Presentation

31 slides from Allianz Malaysia Bhd's earnings presentation, Mar 2, 2026

  1. Slide 1: Allianz Malaysia Berhad Q4 2025 Financial Results Analyst Briefing

    ALLIANZ MALAYSIA BERHAD (197201000819) Q4 2025 FINANCIAL RESULTS Analyst Briefing 2 March 2026 © Copyright Allianz Malaysia Berhad

  2. Slide 2: AMB Group Financial Results

    01 AMB GROUP FINANCIAL RESULTS © Copyright Allianz Malaysia Berhad 2

  3. Slide 3: Financial Highlights 12M 2025

    FINANCIAL HIGHLIGHTS 12M 2025 Group General Insurance Life Insurance Investment Holding Investment Holding Gross Written Premium (RM’mil) 7,689.5 (+6.1%) 3,678.2 (+7.6%) 4,011.3 (+4.9%) Insurance Revenue (RM’mil) 6,236.9 (+10.4%) 3,579.7 (+11.2%) 2,657.2 (+9.2%) Profit Before Tax (RM’mil) 1,165.6 (+

  4. Slide 4: Robust Top Line Growth and Resilient Earnings

    ROBUST TOP LINE GROWTH AND RESILIENT EARNINGS Comments Insurance revenue Profitability • Group insurance revenue of RM6.24 billion, an increase of 10.4% • Group profit before tax of RM1.17 billion, increased by 15.9% (12M from RM5.65 billion in 2024 due to strong insurance revenue from 2024: RM1.01

  5. Slide 5: Financial Highlights 12M 2025: Gross Written Premium

    FINANCIAL HIGHLIGHTS 12M 2025 Group General Insurance Gross Written Premium (“GWP”) (RM’mil) +7.6% +6.1% 3,678.2 3,419.4 7,689.5 6,546.5 7,244.8 2,008.8 1,966.4 1,904.3 1,908.7 1,905.1 1,809.2 1,701.5 1,730.3 12M 24 12M 25 884.6 885.2 978.0 927.9 897.8 874.5 Life Insurance 800.4 849.2 +4.9% 3,825.4

  6. Slide 6: Financial Highlights 12M 2025: Insurance Revenue

    FINANCIAL HIGHLIGHTS 12M 2025 Group General Insurance Insurance Revenue (RM’mil) +11.2% +10.4% 3,579.7 3,219.0 6,236.9 4,941.6 4,418.8 5,651.5 1,584.4 1,603.6 1,503.0 1,528.7 1,520.2 1,440.5 1,336.9 1,371.1 12M 24 12M 25 911.9 919.3 857.4 862.5 886.0 Life Insurance 779.9 826.9 754.8 +9.2% 2,657.2 2,

  7. Slide 7: Financial Highlights 12M 2025: PBT and PAT Drivers

    FINANCIAL HIGHLIGHTS 12M 2025 Profit Before Tax drivers (RM’mil) Profit After Tax drivers (RM’mil) +15.9% +24.4% 62.8 10.6 1,165.6 114.1 6.3 958.8 86.8 1,005.4 67.7 770.7 12M 24 General General… Life Investment Investment… 12M 25 12M 24 General General… Life Investment Investment… 12M 25 PBT 12M 24

  8. Slide 8: Life Business: CSM Growth Solid at 5.3%

    LIFE BUSINESS: CSM GROWTH SOLID AT 5.3% Contractual Service Margin (RM’mil) +5.3% 170.0 26.1 1 CSM (net) 2,464.9 500.5 Reinsurance 159.9 Non-attributable cost 322.1 3,725.3 Tax 778.4 (510.1) 3,538.8 CSM (gross) 3,725.3 VNB (12M 25) 395.82 + Non-attr. Cost 108.0 - Scope / other (3.4) = New business @

  9. Slide 9: Financial Overview

    FINANCIAL OVERVIEW 3 Year CAGR RM’mil 2022 2023 2024 2025 (2022 – 2025) Gross Written Premiums 6,023.0 6,546.5 7,244.8 7,689.5 8.5% CSM Release 368.6 433.1 487.1 510.1 11.4% Expense Ratio (Non Life)1 26.6% 26.3% 25.4% 25.6% (1.0 pts) Expense Ratio (Life)2 9.8% 12.1% 11.2% 10.8% 1.0 pts Local Consoli

  10. Slide 10: Summary of Unaudited Financial Results

    SUMMARY OF UNAUDITED FINANCIAL RESULTS RM’mil 12M 2024 12M 2025 25/24 % Insurance revenue 5,651.5 6,236.9 10.4% Claims and benefits (3,193.9) (3,496.5) 9.5% Acquisition and administrative expenses (net) (1,367.8) (1,502.6) 9.9% Reversal of losses on onerous contracts 8.6 10.0 16.3% Insurance servic

  11. Slide 11: General Business

    02 GENERAL BUSINESS © Copyright Allianz Malaysia Berhad 11

  12. Slide 12: General Business: Strategic Execution, Tangible Results

    GENERAL BUSINESS: STRATEGIC EXECUTION, TANGIBLE RESULTS 1 15.2% +7.8% Market Share GI Market Share GWP Growth Outperformance (+0.4%pts vs LY) (GI Industry: +4.8%) Outpaced industry’s growth. 2 8 23.7% No.1 Market Leader ALU E DRIVER Process Optimisation GI Market Share in Motor ▪ Workspace Optimisat

  13. Slide 13: General Business Comments

    GENERAL BUSINESS Comments Gross written premiums Combined ratio • Continued growth momentum in the fourth quarter with gross • Better combined ratio of 0.9 pts mainly contributed by lower written premium increased by 7.6% as compared to prior claims ratio due to better claims experience from fire bu

  14. 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 +7.6% Telemarketing 1.9% 3,678.2 Agent 57.8% 3,419.4 Broker 9.6% Banca 1.7% Franchise 29.0% Fire 978.0 12.2% 884.6 885.2 849.2 897.8 927.9 874.5 Marine 800

  15. Slide 15: General Business: Growth in Investment Income

    GENERAL BUSINESS: GROWTH IN INVESTMENT INCOME IN LINE WITH HIGHER YIELD AND GROWTH IN INVESTMENT ASSETS Net investment income/ Net (re-)insurance finance expenses Portfolio Mix and Investment Yield (Annualised) (RM’mil) +11.0% Portfolio Mix Investment Yield * 208.5 187.9 Deposit 51.2 66.6 11.4% 48.5

  16. Slide 16: General Business: Higher PBT Due to Better Claims Experience

    GENERAL BUSINESS: HIGHER PBT DUE TO BETTER CLAIMS EXPERIENCE AND HIGHER NET INSURANCE AND INVESTMENT RESULTS Profit Before Tax (RM’mil) PBT Drivers (RM’mil) +16.1% 91.7 33.7 624.7 537.9 (38.6) 624.7 537.9 160.9 153.1 165.5 149.8 145.2 132.3 139.6 12M 24 Insurance… Insurance Net Others Others 12M 25

  17. Slide 17: General Business: Better Combined Ratio Due to Lower Claims Ratio

    GENERAL BUSINESS: BETTER COMBINED RATIO DUE TO LOWER CLAIMS RATIO Combined Ratio -0.9 pts Discounting impact -2.9% Discounting impact -2.6% 90.1% 89.3% 88.7% 88.8% 88.0% 88.8% 89.1% 87.9% 87.0% 85.8% 24.1% 24.9% 24.6% 25.4% 25.5% 25.4% 25.6% 27.8% 22.8% 28.5% 62.9% 65.2% 64.7% 60.9% 63.4%* 63.0% 62.

  18. Slide 18: General Business: Financial Results at a Glance

    GENERAL BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 12M 2024 12M 2025 25/24 % Insurance revenue 3,219.0 3,579.7 11.2% Claims (1,819.3) (1,997.1) 9.8% Acquisition and administrative expenses (net) (757.0) (833.9) 10.2% Reversal of losses on onerous contracts 7.1 9.4 32.4% Net expenses from reinsu

  19. Slide 19: General Business: Performance Compared to Industry (Jan-Dec 2025)

    GENERAL BUSINESS: PERFORMANCE COMPARED TO INDUSTRY (JAN-DEC 2025) AGIC 1 Industry 1 Takaful 1 KPIs 12M 2025 12M 2025 12M 2025 GWP growth 7.8% 4.8% 12.4% Market Share (12M 2025) 2 15.2% Market Ranking (6M 2025) 3 No. 1 Notes: 1) Source: ISM Market PerformanceReport Jan-Dec 2025 (General Insurance & G

  20. Slide 20: Life Business

    03 LIFE BUSINESS © Copyright Allianz Malaysia Berhad 20

  21. Slide 21: Life Business: Strategic Execution, Tangible Results

    LIFE BUSINESS: STRATEGIC EXECUTION, TANGIBLE RESULTS 1 11.0% +3.7% Market Share Company Market Share Agency Growth Outperformance (+0.6% vs LY) (Industry: +2.5%) Outpaced industry in all channels. 2 8 Process Optimisation 395.8mn ▪ Agency – Promote new medical Distribution Reboot ALU E DRIVER ▪ Heal

  22. Slide 22: Life Business Comments

    LIFE BUSINESS Comments Gross written premiums Product mix • Gross written premiums grew by 4.9% with growth from • Remain focused on sales of investment-linked products with Bancassurance (+16.5%) and Employee Benefit (+14.5%). protection rider which provides higher margins but to also cater for dem

  23. 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 (%) (12M 2025) +4.9% Mix Single Premium 4,011.3 14.8% 3,825.4 1,019.7 1,023.5 1,030.8 1,007.3 1,038.5 Total 934.7 901.1 881.1 4,011.3 Recurring Premium 85.2% 761.5 806.4 Grow

  24. Slide 24: Life Business: Higher PBT Due to Higher Insurance Service Results

    LIFE BUSINESS: HIGHER PBT DUE TO HIGHER INSURANCE SERVICE RESULTS Profit Before Tax (RM’mil) PBT Drivers (RM’mil) +13.0% 62.1 0.7 544.8 544.8 482.0 482.0 163.6 148.5 140.3 130.8 12M 24 Insurance Insurance … Net investment 12M25 12M 25 122.3 107.1 112.3 12M 24 service income … Net investment 101.9 re

  25. Slide 25: Life Business: Growth in ANP Across Key Distribution Channels

    LIFE BUSINESS: GROWTH IN ANP CONTRIBUTED BY ALL KEY DISTRIBUTION CHANNELS, OUTPERFORMING THE INDUSTRY Annualised New Premiums (“ANP”) (RM’mil) ANP Channel Mix (%) (12M 2025) +6.0% 923.9 871.7 243.9 234.8 234.9 231.6 6.3 228.7 Bancassurance/Direct 20.6 5.4 213.5 13.1 12.2 Marketing 211.1 197.1 60.4 3

  26. 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 (%) (12M 2025) Q1 -14.0% +3.7% Q2 +22.6% By ANP By Policy Count Q3 +11.9% Traditional 573.1 524.8 10.0% Q4 -2.5% Tra

  27. 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) +11.7% +9.9% 714.9 2,699.9 639.9 2,456.3 204.8 174.8 180.0 181.3 174.5 700.4 688.5 672.5 153.8 154.3 638.5 131.3 615.6 622.5 624.6 593.6 1Q 24 2Q 24 3Q 24 4Q 2

  28. Slide 28: Life Business: Lower Investment Income Due to Fair Value Losses

    LIFE BUSINESS: LOWER INVESTMENT INCOME DUE TO FAIR VALUE LOSSES AND REALISED LOSSES FROM MARKET UNCERTAINTY Investment Income by funds Portfolio Mix and Investment Yield (LF) (%) (RM’mil) Investment Yield Portfolio Mix (Annualised) -42.5% Cash Others 7.9% 0.4% 1,307.9 Equities 7.5% Govt Bonds 173.4

  29. Slide 29: Life Business: Financial Results at a Glance

    LIFE BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 12M 2024 12M 2025 25/24 % Insurance revenue 2,432.5 2,657.2 9.2% - Release contractual service margin 487.1 510.1 4.7% - Release of expected cash flows, risk adjustments and others 1,945.4 2,147.1 10.4% Claims and benefits (1,374.1) (1,496.1) 8.9%

  30. Slide 30: Thank You for Your Attention

    THANK YOU FOR YOUR ATTENTION © Copyright Allianz Malaysia Berhad

  31. 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

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