Earnings Release: First Quarter Results 2026

Kuala Lumpur, 25 May 2026

Allianz Malaysia starts 2026 on strong footing

1Q 2026
· Total business volume increases 6.7 percent to RM1.63 billion, supported by growth across both general and life insurance segments
· Gross Written Premiums rises 13.7 percent to RM2.29 billion on the back of both general and life insurance segments
· Operating profit remains resilient at RM284.2 million despite challenging environment
“Allianz Malaysia delivered a strong start to 2026, showcasing our continued commitment to customer-centricity, technical excellence and adaptability amid the ever-evolving market landscape. As we celebrate our 25th anniversary this year, we are deeply grateful for the trust our customers and partners have placed in us. This milestone underscores our journey of growth and resilience, and we remain focused on providing innovative solutions that truly meet our customers’ needs. We expect to see this momentum continue into the rest of the year, supported by our ability to navigate a dynamic environment while delivering sustainable results that reinforce our position as a trusted lifetime partner for Malaysians."
- Sean Wang, Allianz Malaysia Berhad Chief Executive Officer

Financial Highlights

Allianz Malaysia: Solid performance across both life and general segments
Allianz Malaysia Berhad (Allianz Malaysia) Group delivered good results in 1Q 2026, driven by growth across both the general and life insurance segments.
Total business volume expanded 6.7 percent to RM1.63 billion (1Q 2025: RM1.53 billion), as both the general and life insurance segments recorded solid growth.
Gross Written Premiums increased by 13.7 percent to RM2.29 billion (1Q 2025: RM2.01 billion). The Motor, Bancassurance and Employee Benefits businesses were growth drivers, but all segments contributed.
Operating profit stood at RM284.2 million (1Q 2025: RM284.9 million) despite a challenging environment.

Allianz General: Continued push to drive growth
In 1Q 2026, the Group’s general insurance subsidiary, Allianz General Insurance Company (Malaysia) Berhad (Allianz General) recorded total business volume of RM918.3 million (1Q 2025: RM862.5 million), marking a 6.5 percent increase from the year before attributed mainly to the Motor business.
Operating profit stood at RM154.2 million, 4.2 percent lower year-on-year (1Q 2025: RM160.9 million) as a result of higher insurance service expenses for the current quarter in focus.
The combined ratio stood at 87.2 percent (1Q 2025: 85.8 percent). Claims ratio improved by 0.8 percentage points to 62.2 percent (1Q 2025: 63.0 percent), offset by higher expense ratio of 25.0 percent (1Q 2025: 22.8 percent).
“We are pleased with our strong performance in the first quarter of 2026, which reflects the resilience and growth of our general insurance business. Our Motor business continued to drive total business volume this quarter, while we also made further strides in diversifying our portfolio through the introduction of new non-Motor solutions tailored for small and medium enterprises (SMEs) and the commercial sector, as well as enhanced offerings in personal accident protection and a refreshed product for employers of domestic helpers. Moving into the second quarter, we will continue to build on this momentum and remain focused on continuously enhancing our technical capabilities and ensuring our customers experience a seamless and efficient journey with us,” said Sean Wang, who is also Chief Executive Officer of Allianz General.
Allianz Life: Strong momentum to start the year
In 1Q 2026, the Group’s life insurance subsidiary, Allianz Life Insurance Malaysia Berhad (Allianz Life) reported a total of RM263.1 million in ANP, annualised new premiums (1Q 2025: RM213.5 million). The 23.2 percent increase was mainly driven by the Agency and Employee Benefits businesses.
The value of new business (VNB) increased by 28.9 percent to RM124.1 million (1Q 2025: RM96.3 million).
Operating profit rose to RM128.0 million (1Q 2025: RM126.9 million), an increase of 0.9 percent from a year earlier.
The Contractual Service Margin (CSM) amounted to RM3.77 billion (12M 2025: RM3.73 billion), reflecting a growth of 1.3 percent.
“We started the year on a strong note, with solid growth in annualised new premiums driven by our Agency force and Employee Benefits business, continued momentum across all segments and strengthening of our market share. This performance reflects our commitment to innovation, leveraging technology and empowering our distribution channels to deliver customer-focused solutions. Looking ahead, we remain dedicated to enhancing our offerings and providing value-driven services for our customers by empowering and growing our Agency force, driving our Employee Benefits and Bancassurance businesses and leveraging on our technological capabilities,” said Giulio Slavich, Allianz Life Chief Executive Officer.

Allianz Group: 1Q Results

Allianz had a strong start to 2026. It sustained its growth momentum and achieved a record operating profit while Allianz further enhanced its superior financial strength in a demanding operating environment.
In 1Q 2026, the total business volume increased to 53.0 billion euros, an internal growth of 3.5 percent. Operating profit rose 6.6 percent to a record level of 4.5 billion euros. Shareholders’ core net income advanced to 3.8 billion euros and the Solvency II ratio increased to 221 percent, supported by strong capital generation.
Allianz is on track to achieve its full-year operating profit outlook of 17.4 billion euros, plus or minus 1 billion euros.