Insurance News
Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Tuesday, 8 April 2008
Allianz Targets 11% Growth
Allianz continues to target at double digit organic growth in 2008. The company acquired Commerce Assurance Bhd in August 2007 and does not rule out future acquisitions. The target set for combined ratio is not more than 95%.Some statistics on Allianz:
- Secured RM994 mil gross written premiums (GWP) in 2007, made up of RM624 mil (life & general units of Allianz) and RM370 mil (Commerce Assurance Bhd).
- Recorded 10 to 11% growth in the last 4 years.
- Agency force of 8,000, main business contributor.
- 2nd largest general insurer in Malaysia with 10% market share.
The integration process post acquisition of Commerce Assurance is expected to complete by Q3 or Q4 of 2008. The new head office of the group will be in Plaza Sentral.
Source: Business Times
Labels: Allianz, Business Targets, Merger
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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