Munich-based insurer Allianz posted higher profits in the first six months of 2024, driven in part by strong growth its life and property-casualty businesses.
Allianz Asia Pacific posted an operating profit of 388 million euros ($431 million) in the first half of 2024, according to the insurer’s financial results, up 5 percent year-on-year.
Total business volume increased 131 percent to 4.3 billion euros, driven by strong growth across the life & health and property-casualty businesses. New business value from life & health also rose 34 percent to 324 million euros.
«We are pleased to report that Allianz Asia Pacific has achieved robust growth momentum in the first half of 2024, supported by a solid foundation we have established in Asia,» said Anusha Thavarajah, regional CEO of Allianz Asia Pacific. «Our strategic initiatives implemented in the region recently have laid the groundwork, positioning us well to seize growth opportunities as they arise and effectively navigate the ever-changing business environment.»
