Allianz Malaysia Bhd. · MYX:ALLIANZ

Allianz Malaysia Bhd — Q3 2025 Earnings Presentation

31 slides from Allianz Malaysia Bhd's earnings presentation, Nov 26, 2025

  1. Slide 1: Allianz Malaysia Berhad Q3 2025 Financial Results Analyst Briefing

    ALLIANZ MALAYSIA BERHAD (197201000819) Q3 2025 FINANCIAL RESULTS Analyst Briefing 26 November 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 9M 2025

    FINANCIAL HIGHLIGHTS 9M 2025 Group General Insurance Life Insurance Investment Holding Investment Holding Gross Written Premium (RM’mil) 5,880.3 (+6.6%) 2,803.7 (+9.1%) 3,076.6 (+4.5%) Insurance Revenue (RM’mil) 4,633.3 (+11.7%) 2,660.4 (+12.7%) 1,972.9 (+10.4%) Profit Before Tax (RM’mil) 866.6 (+20

  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 RM4.63 billion, an increase of 11.7% • Group profit before tax of RM866.6 million, increased by 20.2% from RM4.15 billion in 2024 due to strong insurance revenue from (9M 2024: RM720.9

  5. Slide 5: Financial Highlights 9M 2025: Gross Written Premium

    FINANCIAL HIGHLIGHTS 9M 2025 Group General Insurance Gross Written Premium (“GWP”) (RM’mil) +9.1% +6.6% 2,803.7 2,570.2 5,880.3 6,546.5 5,514.5 2,008.8 1,966.4 1,904.3 1,908.7 1,905.1 1,701.5 9M 24 9M 25 884.6 885.2 978.0 927.9 897.8 Life Insurance 800.4 +4.5% 2,944.3 3,076.6 1,019.7 1,023.5 1,030.8

  6. Slide 6: Financial Highlights 9M 2025: Insurance Revenue

    FINANCIAL HIGHLIGHTS 9M 2025 Group General Insurance Insurance Revenue (RM’mil) +12.7% +11.7% 2,660.4 2,361.6 4,633.3 4,941.6 4,418.8 1,584.4 4,148.5 1,528.7 1,520.2 1,440.5 1,336.9 1,371.1 9M 24 9M 25 862.5 911.9 886.0 779.9 826.9 Life Insurance 754.8 +10.4% 1,972.9 1,786.9 591.2 613.6 666.2 634.2

  7. Slide 7: Financial Highlights 9M 2025: PBT and PAT Drivers

    FINANCIAL HIGHLIGHTS 9M 2025 Profit Before Tax drivers (RM’mil) Profit After Tax drivers (RM’mil) +20.2% +22.4% 2.7 866.6 54.5 1.8 661.2 51.6 91.4 64.9 720.9 540.0 9M 24 General General… Life Investment Investment… 9M 25 9M 24 General General… Life Investment Investment… 9M 25 PBT 9M 24 Insurance Li

  8. Slide 8: Life Business: CSM Growth Good at 3.2%

    LIFE BUSINESS: CSM GROWTH GOOD AT 3.2% Contractual Service Margin (RM’mil) +3.2% 135.3 388.6 (34.2)1 CSM (net) 2,410.6 Reinsurance 160.9 3,651.5 Non-attributable cost 318.8 3,538.8 (377.0) Tax 761.2 CSM (gross) 3,651.5 VNB (9M 25) 304.92 + Non-attr. Cost 87.6 - Scope / other (3.9) = New business @ i

  9. Slide 9: Financial Overview

    FINANCIAL OVERVIEW 2 Year CAGR RM’mil 2022 2023 2024 9M 2024 9M 2025 (2022 – 2024) Gross Written Premiums 6,023.0 6,546.5 7,244.8 9.7% 5,514.5 5,880.3 CSM Release 368.6 433.1 487.1 15.0% 358.7 377.0 Expense Ratio (Non Life)1 26.6% 26.3% 25.4% (1.2 pts) 24.4% 24.6% Expense Ratio (Life)2 9.8% 12.1% 11

  10. Slide 10: Summary of Unaudited Financial Results

    SUMMARY OF UNAUDITED FINANCIAL RESULTS RM’mil 9M 2024 9M 2025 25/24 % Insurance revenue 4,148.5 4,633.3 11.7% Claims and benefits (2,412.4) (2,552.8) 5.8% Acquisition and administrative expenses (net) (998.8) (1,098.1) 9.9% Losses on onerous contracts (2.5) (2.0) (20.0%) Insurance service expenses

  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 15.3% +9.5% Market Share GI Market Share GWP Growth Outperformance (+0.7%pts vs LY) (GI Industry: +4.8%) Outpaced industry’s growth. 2 8 24.2% No.1 Market Leader ALU E DRIVER Process Optimisation GI Market Share in Motor ▪ Workspace Optimisat

  13. Slide 13: General Business

    GENERAL BUSINESS Comments Gross written premiums Combined ratio • Continued growth momentum in the third quarter with gross • Better combined ratio of 1.1 pts mainly contributed by lower written premium increased by 9.1% as compared to prior claims ratio due to better claims experience from fire and

  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 +9.1% Telemarketing 1.7% 2,803.7 Agent 57.7% 2,570.2 Broker 9.8% Banca 1.9% Franchise 28.9% Fire 978.0 12.3% 884.6 885.2 897.8 927.9 Marine 800.4 1.8% PA &

  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) +22.4% Portfolio Mix Investment Yield * 160.0 130.7 51.2 66.6 Deposit 11.8% Unqu

  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) +23.6% 39.9 84.3 479.5 479.5 (32.8) 388.1 388.1 160.9 165.5 153.1 132.3 139.6 9M 24 Insurance… Insurance Net Others Others 9M 25 116.2 9M 24 se

  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 -1.1 pts Discounting impact -2.7% Discounting impact -2.6% 90.1% 89.3% 88.7% 88.0% 88.8% 87.6% 87.0% 85.8% 24.1% 24.9% 24.6% 24.4% 25.5% 25.4% 24.6% 22.8% * * 62.9% 65.2% 64.7% 64.3% 63.0% 62.5% 63.4% 63.0% 1Q 24 2Q 24

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

    GENERAL BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 9M 2024 9M 2025 25/24 % Insurance revenue 2,361.6 2,660.4 12.7% Claims (1,411.7) (1,469.3) 4.1% Acquisition and administrative expenses (net) (544.8) (602.0) 10.5% Losses on onerous contracts (3.4) (1.3) (61.8%) Net expenses from reinsurance co

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

    GENERAL BUSINESS: PERFORMANCE COMPARED TO INDUSTRY (JAN-SEP 2025) AGIC 1 Industry 1 Takaful 1 KPIs 9M 2025 9M 2025 9M 2025 GWP growth 9.5% 4.8% 10.7% Market Share (9M 2025) 2 15.3% Market Ranking (6M 2025) 3 No. 1 Notes: 1) Source: ISM Market PerformanceReport Jan-Sep 2025 (General Insurance & Gener

  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 11.6% +6.9% Market Share Company Market Share Agency Growth Outperformance (+0.8% vs LY) (Industry: +1.2%) Outpaced industry in all channels. 2 8 Process Optimisation 304.9mn ▪ Agency – Promote new medical Distribution Reboot ALU E DRIVER ▪ Heal

  22. Slide 22: Life Business

    LIFE BUSINESS Comments Gross written premiums Product mix • Gross written premiums grew by 4.5% with growth from • Remain focused on sales of investment-linked products with Bancassurance (+13.5%) and Employee Benefit (+14.1%). protection rider which provides higher margins but to also cater for dem

  23. Slide 23: Life Business: Growth Driven by Single Premium and Recurring Premium

    LIFE BUSINESS: GROWTH DRIVEN BY SINGLE PREMIUM AND RECURRING PREMIUM Gross Written Premiums (“GWP”) (RM’mil) GWP Mix & Growth (%) (9M 2025) +4.5% Mix Single Premium 3,076.6 2,944.3 16.5% 1,019.7 1,023.5 1,030.8 1,038.5 1,007.3 Total 901.1 3,076.6 Recurring Premium 83.5% 761.5 806.4 Growth 863.5 899.

  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) +15.1% 75.0 393.3 393.3 341.7 (23.4) 341.7 130.2 136.2 122.3 126.9 107.1 112.3 9M 24 Insurance Net investment 9M25 25 Insurance … 9M 9M 24 service income … Net investment results and oth

  25. Slide 25: Life Business: Growth in ANP with Significant Improvement from Q2

    LIFE BUSINESS: GROWTH IN ANP WITH SIGNIFICANT IMPROVEMENT FROM Q2 ONWARDS WITH ALIM OUTPACING THE INDUSTRY Annualised New Premiums (“ANP”) (RM’mil) ANP Channel Mix (%) (9M 2025) +5.8% 680.0 643.0 234.8 234.9 231.6 13.1 12.2 Bancassurance/Direct 20.6 211.1 213.5 Marketing 9.6 197.1 20.9 35.0% 10.2 66

  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 (%) (9M 2025) Q1 -14.0% +6.9% Q2 +22.6% By ANP By Policy Count Q3 +11.9% Traditional 395.9 524.8 9.9% Traditional 15

  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) +10.9% +9.8% 510.1 2,011.4 459.9 1,831.7 174.8 181.3 174.5 700.4 672.5 153.8 154.3 638.5 131.3 615.6 622.5 593.6 1Q 24 2Q 24 3Q 24 1Q 25 2Q 25 3Q 25 1Q 24 2Q 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 LOWER REALISED GAINS FROM MARKET UNCERTAINTY Investment Income by funds Portfolio Mix and Investment Yield (LF) (%) (RM’mil) Investment Yield Portfolio Mix (Annualised) -41.3% Cash Others 7.2% 0.4% Equities 1,060.3 7.2% Govt Bonds 1

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

    LIFE BUSINESS: FINANCIAL RESULTS AT A GLANCE RM’mil 9M 2024 9M 2025 25/24 % Insurance revenue 1,786.9 1,972.9 10.4% - Release contractual service margin 358.7 377.0 5.1% - Release of expected cash flows, risk adjustments and others 1,428.2 1,595.9 11.7% Claims and benefits (1,000.3) (1,080.7) 8.0%

  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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