Allianz Malaysia Aims For 15 Per Cent Growth In Gross Written Premiums

KUALA LUMPUR, May 18 (Bernama) -- Allianz Malaysia Bhd is aiming for a 15 per cent growth in gross written premiums for the life and general insurance segments to RM3 billion (US$954.92 million) this year from RM2.6 billion (US$827.62 millon) in 2011. Chief Executive Officer Jens Reisch said the growth would be driven by the company's innovative products and wide distribution base in Malaysia. "At the moment, we have about 10,500 Allianz agents in the country for the life and insurance segments," he told a press conference at the launch of its "One Campaign" branding initiative on Friday. Reisch said Allianz Malaysia had been more fortunate than the Allianz Group, as the latter covers the whole world, and some parts of it are having a challenging time. "Malaysia has proven to be a good market for growth and for the past few years, we have been growing faster than the market. "For the last three to four years, the market for general insurance has grown seven per cent, whereas for the segment, Allianz Malaysia notched 10 per cent. "Meanwhile, the life insurance market experienced growth of up to 11 per cent, while we grew around 14 per cent," he added. On potential mergers and acquisitions, he said Allianz Malaysia was not in talks with any party at the moment but added, it would evaluate any opportunity that arose. He said the One Campaign would further support the company's growth plans through building sustainable relationships with customers. "The campaign is different compared with the typical advertisements and billboards as it features a more localised angle, personalised real life advice from our customers, and their experiences with Allianz," he added. Allianz Malaysia will run the campaign on television, radio and newspaper advertisements in the second half of this year. --BERNAMA