Allianz Malaysia Bhd. · MYX:ALLIANZ

Allianz Malaysia Bhd — Q1 2025 Earnings Presentation

29 slides from Allianz Malaysia Bhd's earnings presentation, Jun 3, 2025

  1. Slide 1: Allianz Malaysia Berhad Q1 2025 Financial Results Analyst Briefing

    ALLIANZ MALAYSIA BERHAD (197201000819) Q1 2025 FINANCIAL RESULTS Analyst Briefing 3 June 2025 © 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 3M 2025

    FINANCIAL HIGHLIGHTS 3M 2025 Group General Insurance Life Insurance Investment Holding Investment Holding Gross Written Premium (RM’mil) 2,008.8 (+5.5%) 978.0 (+10.6%) 1,030.8 (+1.1%) Insurance Revenue (RM’mil) 1,528.7 (+14.3%) 862.5 (+14.3%) 666.2 (+14.4%) Profit Before Tax (RM’mil) 283.7 (+13.0%)

  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 RM1.53 billion, an increase of 14.3% • Group profit before tax of RM283.7 million, increased by 13.0% from RM1.34 billion in 2024 due to strong insurance revenue from (3M 2024: RM251.0

  5. Slide 5: Financial Highlights 3M 2025: Gross Written Premium

    FINANCIAL HIGHLIGHTS 3M 2025 Group General Insurance Gross Written Premium (“GWP”) (RM’mil) +10.6% +5.5% 978.0 884.6 2,008.8 6,546.5 1,904.3 3M 24 3M 25 Life Insurance +1.1% 1,019.7 1,030.8 3M 24 3M 25 3M 24 3M 25 © Copyright Allianz Malaysia Berhad 5

  6. Slide 6: Financial Highlights 3M 2025: Insurance Revenue

    FINANCIAL HIGHLIGHTS 3M 2025 Group General Insurance Insurance Revenue (RM’mil) +14.3% +14.3% 862.5 754.8 1,528.7 4,941.6 4,418.8 1,336.9 3M 24 3M 25 Life Insurance +14.4% 666.2 582.1 3M 24 3M 25 3M 24 3M 25 © Copyright Allianz Malaysia Berhad 6

  7. Slide 7: Financial Highlights 3M 2025: PBT and PAT Drivers

    FINANCIAL HIGHLIGHTS 3M 2025 Profit Before Tax drivers (RM’mil) Profit After Tax drivers (RM’mil) +13.0% +11.5% 4.6 0.7 283.7 21.0 0.5 0.4 211.7 27.4 251.0 189.8 3M 24 General… General Life Investment… Investment 3M 25 3M 24 General… General Life Investment… Investment 3M 25 PBT 3M 24 Insurance Life

  8. Slide 8: Life Business: CSM Growth Largely Moderated by Investment Market Return

    LIFE BUSINESS: CSM GROWTH LARGELY MODERATED BY INVESTMENT MARKET RETURN Contractual Service Margin (RM’mil) -0.4% 47.5 119.7 (57.6) 1 CSM (net) 2,298.1 3,538.8 3,526.1 Reinsurance 151.5 (122.3) Non-attributable cost 350.8 Tax 725.7 CSM (gross) 3,526.1 2 VNB (3M 25) 96.3 + Non-attr. Cost 24.2 - Scope

  9. Slide 9: Financial Overview

    FINANCIAL OVERVIEW 2 Year CAGR RM’mil 2022 2023 2024 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 Ratio (Life)2 9.8% 12.1% 11

  10. Slide 10: Summary of Unaudited Financial Results

    SUMMARY OF UNAUDITED FINANCIAL RESULTS RM’mil 3M 2024 3M 2025 25/24 % Insurance revenue 1,336.9 1,528.7 14.3% Claims and benefits (684.4) (774.3) (13.1%) Acquisition and administrative expenses (net) (319.5) (339.3) (6.2%) Losses on onerous contracts (3.7) (5.3) (43.2%) Insurance service expenses (

  11. Slide 11: General Business

    02 GENERAL BUSINESS © Copyright Allianz Malaysia Berhad 11

  12. Slide 12: General Business Comments

    GENERAL BUSINESS Comments Gross written premiums Combined ratio • Continued growth momentum in the first quarter with gross • Better combined ratio of 1.2 pts mainly contributed by lower written premium increased by 10.6% as compared to prior expense ratio. This is attributed to lower acquisition co

  13. Slide 13: General Business: Good Sales Momentum with Double Digit GWP Growth

    GENERAL BUSINESS: GOOD SALES MOMENTUM WITH DOUBLE DIGIT GWP GROWTH Gross Written Premium (RM’mil) Distribution Channel & Portfolio Mix +10.6% Telemaketing 1.7% Agent 58.5% 978.0 884.6 Broker 10.2% Banca 1.8% Franchise 27.8% Fire 13.4% Marine 1.9% PA & Health 5.6% Total 978.0 Misc 11.4% Motor 3M 24 3

  14. Slide 14: 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) +6.8% Portfolio Mix Investment Yield * 40.8 Deposit 38.2 Unquoted 4.5 13.9% Unit

  15. Slide 15: General Business: Higher PBT Due to Higher Net Insurance and Investment Results

    GENERAL BUSINESS: HIGHER PBT DUE TO HIGHER NET INSURANCE AND INVESTMENT RESULTS Profit Before Tax (RM’mil) PBT Drivers (RM’mil) +20.7% 6.7 27.9 159.7 159.7 (7.2) 132.3 132.3 3M 24 Insurance… Insurance Net Others Others 3M 25 3M 24 service Net… investment 3M 25 results income 3M 2024 104.2 59.8 (31.7

  16. Slide 16: General Business: Better Combined Ratio Due to Lower Expense Ratio

    GENERAL BUSINESS: BETTER COMBINED RATIO DUE TO LOWER EXPENSE RATIO Combined Ratio -1.2 pts Discounting impact -3.0% Discounting impact -3.1% 87.0% 85.8% 24.1% 22.8% * * ** * * 62.9%* 63.0% 3M 24 3M 25 Claims Ratio Expense Ratio * Include reinsurance results - reinsurance ratio 7.9% in 3M 24, 9.1% in

  17. Slide 17: General Business: Financial Results at a Glance

    GENERAL BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 3M 2024 3M 2025 25/24 % Insurance revenue 754.8 862.5 14.3% Claims (413.0) (463.3) (12.2%) Acquisition and administrative expenses (net) (175.9) (186.9) (6.3%) Losses on onerous contracts (2.1) (1.5) 28.6% Net expenses from reinsurance contract

  18. Slide 18: General Business: Performance Compared to Industry (Jan-Mar 2025)

    GENERAL BUSINESS: PERFORMANCE COMPARED TO INDUSTRY (JAN-MAR 2025) AGIC 1 Industry 1 Takaful 1 KPIs 3M 2025 3M 2025 3M 2025 GWP growth 11.1% 2.6% 6.4% Market Share (3M 2025) 2 14.9% Market Ranking (12M 2024) 3 No. 1 Notes: 1) Source: ISM Market PerformanceReport Jan-Mar 2025 (General Insurance & Gene

  19. Slide 19: Life Business

    03 LIFE BUSINESS © Copyright Allianz Malaysia Berhad 19

  20. Slide 20: Life Business Comments

    LIFE BUSINESS Comments Gross written premiums Product mix • Gross written premiums grew by 1.1% with growth from • Remain focused on sales of investment-linked products with Bancassurance (+9.0%) and Employee Benefit (+1.8%). protection rider which provides higher margins but to also cater for deman

  21. Slide 21: Life Business: Growth Driven by First Year Premium and In-Force Premium

    LIFE BUSINESS: GROWTH DRIVEN BY FIRST YEAR PREMIUM AND IN-FORCE PREMIUM Gross Written Premiums (“GWP”) (RM’mil) GWP Mix & Growth (%) (3M 2025) +1.1% Mix Single 1,019.7 1,030.8 Premium 21.8% Total 1,030.8 Recurring Premium 761.5 78.2% 806.4 Growth 5.9% 258.2 224.4 -13.1% 3M 24 3M 25 Single Premium Re

  22. Slide 22: 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) +3.8% 33.6 122.3 126.9 126.9 122.3 (29.0) 3M 24 Insurance Insurance … Net investment 3M25 3M 25 3M 24 service expenses… Net investment results and others 3M 2024 150.1 (27.8) 122.3 3M 20

  23. Slide 23: Life Business: Negative Market Sentiment and Sales Challenges to Medical Plans

    LIFE BUSINESS: NEGATIVE MARKET SENTIMENT AND SALES CHALLENGES TO MEDICAL PLANS DUE TO LOCAL REGULATORY INTERIM MEASURE Annualised New Premiums (“ANP”) (RM’mil) ANP Channel Mix (%) (3M 2025) -9.1% 234.8 20.6 213.5 Bancassurance/Direct 20.9 Marketing 40.8% 91.6 Growth -4.8% 87.2 Total Agency 213.5 49.

  24. Slide 24: Life Business (Agency): Lower Sales Momentum from Agency

    LIFE BUSINESS (AGENCY): LOWER SALES MOMENTUM FROM AGENCY WHILE INDUSTRY DETRACTED FURTHER Agency Annualised New Premiums (RM’mil) Agency Product Mix (%) (3M 2025) -14.1% By ANP By Policy Count Traditional 524.8 15.3% Traditional 7.2% 122.6 105.4 Total Total 105.4 19,582.0 Investment Linked Investmen

  25. Slide 25: Life Business: Investment-Linked with Protection Features GWP Continues to Grow

    LIFE BUSINESS: INVESTMENT-LINKED WITH PROTECTION FEATURES GWP CONTINUES TO GROW DESPITE LOWER NEW BUSINESS Annualised New Premiums (RM’mil) Gross Written Premiums (RM’mil) -11.7% +3.7% 174.8 638.5 615.6 154.3 3M 24 3M 25 3M 24 3M 25 © Copyright Allianz Malaysia Berhad 25

  26. Slide 26: Life Business: Investment Income Lower Due to Fair Value Losses

    LIFE BUSINESS: INVESTMENT INCOME LOWER DUE TO FAIR VALUE LOSSES AND LOWER REALISED GAINS FROM MARKET UNCERTAINTY Investment Income/(Expenses) Portfolio Mix and Investment Yield (LF) (%) by funds (RM’mil) Investment Yield Portfolio Mix (Annualised) (>100%) Cash Others 5.7% 0.4% Equities 460.9 6.9% 41

  27. Slide 27: Life Business: Financial Results at a Glance

    LIFE BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 3M 2024 3M 2025 25/24 % Insurance revenue 582.1 666.2 14.4% - Release contractual service margin 115.6 122.3 5.8% - Release of expected cash flows, risk adjustments and others 466.5 543.9 16.6% Claims and benefits (271.4) (310.9) (14.6%) Acquisiti

  28. Slide 28: Thank You for Your Attention

    THANK YOU FOR YOUR ATTENTION © Copyright Allianz Malaysia Berhad

  29. Slide 29: 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 2025 Earnings Presentation on 6ix