Allianz Asia Pacific reported strong first-half results for 2026, with operating profit excluding India rising 11.4% to EUR455m. Life and Health operating profit increased 6.4% to EUR358m ($419m), while P&C operating profit surged 35% to EUR97m. New Business Value (NBV) rose 3.9 per cent to EUR396m, while excluding Thailand, NBV increased 16.5% to EUR319m, led by China, Indonesia and Malaysia. The insurer also reported an 8% increase in Present Value of New Business Premiums (PVNBP) to EUR4.5bn.
The second quarter also saw accelerated growth, with NBV rising 25.8% compared with the same period last year. China recorded 79.4% growth in NBV, followed by Indonesia at 22.5% and Malaysia at 12.2%. Partnership distribution remained a vital growth driver, with partnership NBV increasing 12%, while agency NBV reached EUR204m. Active agents increased 5% and productivity improved 8%. Allianz Asia Pacific Regional CEO Anusha Thavarajah said the results reflected “the progress we are making across Asia and the disciplined execution of our strategy.”
The company’s P&C business also delivered strong gains, with total business volume increasing 13.6% to EUR1.3bn. Singapore led the growth with a 220.8% increase, while Malaysia rose 9.8%. The P&C operating insurance service result climbed 63.7% to EUR70m. Allianz also highlighted growing demand for protection across Asia, as consumers seek greater financial security for health, retirement and assets. Ms Thavarajah said the company’s focus is “not simply on growth”, but on making protection more accessible and helping address significant protection gaps across the region.
Allianz is also expanding its presence in Singapore after entering an agreement in July to acquire HSBC Life in Singapore. Subject to regulatory approvals, the transaction is expected to close in the first half of 2027. The deal is intended to strengthen Allianz’s position in one of Asia’s main financial centres.