Allianz Malaysia Bhd. · MYX:ALLIANZ
Allianz Malaysia Bhd — Shareholder Meeting (June 2025)
32 slides from Allianz Malaysia Bhd's shareholder meeting presentation, Jun 25, 2025
Slide 1: 51st Annual General Meeting
51st Annual General Meeting Allianz Malaysia Berhad 197201000819 (12428-W) Wednesday, 25 June 2025
Slide 2: Content / topics
Content / topics Group Performance 1 Embedding Sustainability into our Business 2 Overview of Q1 2025 Results 3 Life Business 4 General Business 5 2
Slide 3: Malaysia insurance market is under penetrated but growth remains subdued and challenging
GROUP PERFORMANCE Malaysia insurance market is under penetrated but growth remains subdued and challenging Malaysian Conventional Insurance Industry 19 40,854 1 1.4% 2 +7.5% 3 +5.1% 5 General insurers General agents Insurance penetration GWP GROWTH 2024 GDP GROWTH 2024 (% of GDP) (2023 +7.8%) (2023
Slide 4: Sound fundamental business to overcome the challenges
GROUP PERFORMANCE Sound fundamental business to overcome the challenges FY 2024 RM 7.24bn RM 5.65bn RM 1.01bn +10.7% (2023 +8.7%) +14.4% (2023 +11.8%) +5.1% (2023 +9.5%) GWP Insurance revenue Profit before tax ALIM RM 482.0mn +17.2% AGIC RM 537.9mn -3.3% Investment holding RM (14.5mn) -38.1% RM 28.4
Slide 5: Diversification in two strong pillars of businesses
GROUP PERFORMANCE Diversification in two strong pillars of businesses: maintain market leadership in general insurance and deliver strong growth in life insurance Gross Written Premium (GWP) (RM’ mil) 4-yr CAGR +8.1% +10.7% 7,245 6,547 Allianz Life achieved top 4 6,022 position in ANP, with 10.4% 5,
Slide 6: Resilient and diversified business portfolio contributing to strong earnings for Group
GROUP PERFORMANCE Resilient and diversified business portfolio contributing to strong earnings for Group Profit before Tax (RM’ mil) 2-yr CAGR +5.1% Maintain strong discipline in +9.4% pricing & prudent expense 1,005 management 957 874 Allianz Life 730 482 626 411 17.2% y-o-y growth Deliver healthy
Slide 7: Delivered higher profit. Strong profit growth from Life Insurance segment
GROUP PERFORMANCE Delivered higher profit. Strong profit growth from Life Insurance segment Profit Before Tax (RM’ mil) PBT drivers (RM’ mil) +5.1% +5.1% 71 (5) 1,005 957 (18) 1,005 957 411 482 Allianz Life 17.2% y-o-y growth 957 12M 23 General Life Insurance Investment 12M 24 Allianz General Insura
Slide 8: Life Business: Contractual Service Margin growth good at 8.9%
GROUP PERFORMANCE Life Business: Contractual Service Margin (“CSM”) growth good at 8.9% Contractual Service Margin (RM’ mil) 1 +8.9% 1 51 CSM (net) 2,307 239 Reinsurance 154 488 Non-attributable cost 350 Tax 728 3,539 CSM (gross) 3,539 (487) 3,248 VNB (12M 24) 365 + Non-attributable cost 121 + Scope
Slide 9: Our solid track record
GROUP PERFORMANCE Our solid track record 2 YEAR RM’mil 2022 2023 2024 CAGR (2022-2024) Gross Written Premiums 6,023.0 6,546.5 7,244.8 9.7% CSM Release 368.6 433.1 487.1 15.0% Expense Ratio (Non Life)1 26.6% 26.3% 25.4% (1.2 pts) Expense Ratio (Life)2 9.8% 12.1% 11.2% 1.4 pts Local Consolidated PBT 8
Slide 10: Proposed dividend for financial year 2024 with RM340 mil
GROUP PERFORMANCE Proposed dividend for financial year 2024 with RM340 mil 2022 2023 20243 Dividend Per Share (RM sen) Dividend Yield1 6.6% 5.9% 5.3% 4-yr CAGR Payout Ratio 52.6% 52.2% 44.1% +11.4% 2024 Final Dividend proposed (c. ~ RM 239 mil) Ordinary Share -11.0% (a) 63.0 sen per OS (b) 75.6 sen
Slide 11: Content / topics
Content / topics Group Performance 1 Embedding Sustainability into our Business 2 Overview of Q1 2025 Results 3 Life Business 4 General Business 5 11
Slide 12: Our key sustainability progress in 2024 – achieved our commitments
EMBEDDING SUSTAINABILITY INTO OUR BUSINESS Our key sustainability progress in 2024 – achieved our commitments Achieved Interim GHG Emissions Targets Operations GHG Emissions Investment GHG Emissions Target: 50% reduction of emissions Target: 30% reduction of emissions by 2025 from 2019 baseline. int
Slide 13: Our key sustainability progress in 2024 – our environmental efforts and results
EMBEDDING SUSTAINABILITY INTO OUR BUSINESS Our key sustainability progress in 2024 – our environmental efforts and results: E Environmental Embedding Env. Efforts Into Offerings To Combat Env. Risks Own Operation As An Insurer Conducted 100% Scope 2 emissions Scenario Analysis offset via Internation
Slide 14: Our key sustainability progress in 2024 – our social efforts and results
EMBEDDING SUSTAINABILITY INTO OUR BUSINESS Our key sustainability progress in 2024 – our social efforts and results: S Social Our Reach To Accredited Employer Of Choice The Unserved/Underserved With Recognitions As A Responsible Business and Citizen RM1.5 mil spent Achieved Great Place To on trainin
Slide 15: Our key sustainability progress in 2024 – our governance efforts and progress
EMBEDDING SUSTAINABILITY INTO OUR BUSINESS Our key sustainability progress in 2024 – our governance efforts and progress witness by: G Governance Governance & Ethics Committed To Sustainability As Our Core Value Transparent Disclosure Governance Oversight by Board, led by Top Management, the Sustain
Slide 16: Content / topics
Content / topics Group Performance 1 Embedding Sustainability into our Business 2 Overview of Q1 2025 Results 3 Life Business 4 General Business 5 16
Slide 17: Financial Highlights 3M 2025
OVERVIEW OF Q1 2025 RESULTS Financial Highlights 3M 2025 Group General Insurance Life Insurance Investment Holding Investment Holding Gross Written Premium (RM’mil) 2,009 (+5.5%) 978 (+10.6%) 1,031 (+1.1%) Insurance Revenue (RM’mil) 1,529 (+14.3%) 863 (+14.3%) 666 (+14.4%) Profit Before Tax (RM’mil)
Slide 18: Life Business: CSM growth largely moderated by investment market return
OVERVIEW OF Q1 2025 RESULTS Life Business: CSM growth largely moderated by investment market return Contractual Service Margin (RM’ mil) 1 -0.4% 47 CSM (net) 2,298 48 120 Reinsurance 151 (58) 1 3,526 3,539 Non-attributable cost 351 (122) Tax 726 2 CSM (gross) 3,526 VNB (3M 25) 96 + Non-attributable
Slide 19: Financial Overview
OVERVIEW OF Q1 2025 RESULTS Financial Overview 2 YEAR RM’mil 2022 2023 2024 CAGR 3M 2024 3M 2025 (2022-2024) Gross Written Premiums 6,023.0 6,546.5 7,244.8 9.7% 1,904.3 2,008.8 CSM Release 368.6 433.1 487.1 15.0% 115.6 122.3 Expense Ratio (Non Life)1 26.6% 26.3% 25.4% (1.2 pts) 24.1% 22.8% Expense R
Slide 20: Content / topics
Content / topics Group Performance 1 Embedding Sustainability into our Business 2 Overview of Q1 2025 Results 3 Life Business 4 General Business 5 20
Slide 21: Allianz Life: significantly outperformed industry with growth from agency and bancassurance channels
LIFE BUSINESS Allianz Life: significantly outperformed industry with growth from agency channel and bancassurance channel Annualised New Business 12M 2024 Growth 12M 2023 Growth 5-year CAGR (2019 – 2024) ALIM Industry Market Market ALIM Industry Distribution Channel ALIM Industry (% Growth) (% Growt
Slide 22: Life Business: strong GWP growth driven by recurring premium growth
LIFE BUSINESS Life Business: strong GWP growth driven by recurring premium growth from first year and renewal year premium Gross Written Premium (GWP) (RM’ mil) GWP Mix & Growth (%) (12M 2024) Mix Single Premium 14.5% +8.0% Total 3,825 3,543 3,825 Recurring Premium 85.5% 2,977 3,272 Growth 566 553 9
Slide 23: Life Business: growth in ANP driven by all key distribution channels
LIFE BUSINESS Life Business: growth in ANP driven by all key distribution channels Annualised New Premiums (ANP) (RM’ mil) ANP Channel Mix (%) (12M 2024) +15.1% 872 758 46 Bancassurance/ 40 Direct Marketing 274 31.4% 193 Growth +41.7% Total 872 Agency 525 552 63.3% Growth +5.3% Employee Benefits 5.3
Slide 24: Life Business (Agency): continue focus on regular investment-linked products
LIFE BUSINESS Life Business (Agency): continue focus on preferred segment of regular investment-linked products with better margins Agency Annualised New Premiums (ANP) (RM’ mil) Agency Product Mix (%) (12M 2024) By ANP By Policy Count +5.3% Traditional Traditional 17.7% 12.3% 552 525 Total Total 55
Slide 25: Life Business delivered higher profit
LIFE BUSINESS Life Business delivered higher profit Profit Before Tax (RM’ mil) +17.2% • Focus on healthy and sustainable margins supported by disciplined pricing methodologies and sound risk management. 309 221 39 • Focus on writing more investment-linked 482 protection products with protection rid
Slide 26: Life Business value creation
LIFE BUSINESS Life Business value creation Smart Growth Productivity Resilience • Agency Transformation: Industry leading • Rapid Productivity and Expense • Managing health industry reform recruitment and activation Kingmaker optimization: Drive real end-to-end • Return on Equity optimization progra
Slide 27: Content / topics
Content / topics Group Performance 1 Embedding Sustainability into our Business 2 Overview of Q1 2025 Results 3 Life Business 4 General Business 5 27
Slide 28: Allianz General: maintaining market leadership
GENERAL BUSINESS Allianz General: maintaining market leadership KPIs ALLIANZ GENERAL1 ALLIANZ GENERAL1 Industry1 Takaful1 12M 2024 12M 2023 12M 2024 12M 2024 GWP growth 13.9% 13.0% 7.5% 8.5% Market Share (12M 2024)2 14.8% Market Rank (12M 2024)1 1 Notes: 1) Source: ISM Market Performance Report Jan-
Slide 29: General Business: good sales momentum with double digit GWP growth
GENERAL BUSINESS General Business: good sales momentum with double digit GWP growth Gross Written Premium (GWP) (RM’ mil) Distribution Channel & Portfolio Mix Telemaketing 1.7% 2024 GI Industry Growth +7.5% Agent 56.5% +13.8% Broker 10.0% Banca 1.8% Franchise 30.0% Fire Marine 12.1% 2.0% 3,420 3,004
Slide 30: General Business: lower PBT due to lower insurance service results
GENERAL BUSINESS General Business: lower PBT due to lower insurance service results Profit Before Tax (RM’ mil) PBT Drivers (RM’ mil) 556 30 538 (34) (14) -3.3% 556 538 12M 23 Insurance… Insurance Net Others Others 12M 24 12M 23 service Net… investment 12M 24 results income 12M 2023 455 221 (120) 55
Slide 31: General Business: higher combined ratio due to higher claims ratio
GENERAL BUSINESS General Business: higher combined ratio due to higher claims ratio Combined Ratio +3.1 pts Discounting impact -2.8% Discounting impact -2.9% 90.1% 89.3% 88.7% 88.8% 84.2% 86.6% 86.2% 85.7% 85.7% 87.0% 24.1% 24.9% 24.6% 27.8% 25.4% 24.8% 26.4% 27.4% 26.6% 26.3% 59.4% 60.2% 58.8% 59.1
Slide 32: General Business value creation
GENERAL BUSINESS General Business value creation Smart Growth Productivity Resilience • Strategic growth steering in profitable • Enhance agent and customer journeys • Enhance portfolio management to segments while maintaining market through service excellence and synergies strengthen underwriting a
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