2024 was a year of strong performance for Allianz in Asia, according to Allianz APAC regional CEO Anusha Thavarajah.
Total business volume for Allianz Asia rose by 15% to EUR8.8bn ($9.4bn), with life and health (L&H) experiencing a 16% increase and contributing EUR6.8bn, and property and casualty going up 11% to hit EUR2bn.
L&H new business value rose 31% to reach EUR7.7m, driven by markets in Taiwan (+68%), China (+31%), and Thailand (+24%). Annualised new premiums also grew 12% to EUR1.2bn, with gains from Taiwan (+27%), Malaysia (+15%), and Thailand (+13%).
“Despite headwinds presented by lower interest rates in China, rising medical inflation and increasing climate-related incidences, we have delivered strong results in both financial and non-financial metrics. This success reflects the strength of our leadership team, the unwavering commitment of our people, and, most importantly, our deep customer focus,” said Ms Thavarajah.
“Our notable achievements in 2024 underscores Allianz’s ability to drive consistent, profitable growth while maintaining financial resilience. As a reliable financial partner, we remain steadfast in our commitment to delivering stability and security for our customers, even amid evolving market conditions,” said Allianz APAC regional CFO Aaron Fryer.