Allianz Asia Reports Strong Half-year Results

6M 2025 Highlights

• Total Business Volume (TBV) surged 14% to EUR 4.9 billion, with Life & Health contributing EUR 3.8 billion (+16%) and Property & Casualty reaching EUR 1.1 billion (+9%)
• Total Operating Profit (OP) increased 14% to EUR 443 million
• Life & Health New Business Value (NBV) increased 18% to EUR 381 million, led by Thailand (+46%), Malaysia (+31%), and China (+31%)
• Annualized New Premiums (ANP) grew 9% to EUR 643 million, with notable gains in Taiwan (+15%), Malaysia (+8%), and Thailand (+7%)
• Property & Casualty maintained strong profitability, supported by growth in Malaysia (+28%) and China (+206%)
• Agency transformation continues to deliver, with NBV up 30% and double-digit growth in agent activation
• Seven initiatives across markets received grants from the 2025 MoveNow Impact Fund, aimed at enhancing societal resilience and impact
• All markets have been certified as a Great Place to Work 
  

Singapore, August 14, 2025

Anusha Thavarajah, Regional Chief Executive Officer, Allianz Asia Pacific, said:

“The strong performance in the first half of 2025 reflects the real progress we have made since launching our growth-focused transformation, Pinnacle 2030, three years ago.”

“Our operating profit grew 14% to EUR 443 million, supported by strong performances in key markets such as Malaysia, Thailand, and China. Life & Health continues to lead the way, delivering an 18% uplift in New Business Value, with standout results from Thailand (+46%), Malaysia (+31%), and China (+31%). This growth is underpinned by a more future-ready distribution model, deeper customer engagement, products and solutions tailored to meet evolving customer needs.”

“Property & Casualty grew Total Business Volume by 9%, with strong contributions in Malaysia (+19%) and China (+12%). We’re also proud to be recognised by Allianz Group with the Technical Excellence (TEX) award for ‘Most New Portfolios Onboarded’, - a first for us in Asia – highlighting the capability of our teams in advancing technical capabilities and delivering quality solutions.”

“We are driving smart growth through recruitment, holistic learning and development, and digital innovation. This is what is powering our continued success, creating long-term value for our customers, and shaping a more resilient, future-ready business.”

H1 2025 Distribution and Customer Growth Highlights

Agency distribution remains a key growth driver, with NBV rising to EUR 210 million (+34% YoY) and ANP to EUR 254 million (+14% YoY). This was driven by a 13% increase in active agents and 13% growth in the number of policies sold. Since launching the Pinnacle Agency transformation programme, Allianz has professionalised its agency force, revamped compensation structures, and rolled out innovative training programmes such as Allianz Pinnacle Excellence Programme with INSEAD, which saw its inaugural cohort of 200 agents and agency leaders graduate in February 2025. These initiatives have significantly improved productivity and customer centricity, enabling the agency channel to outperform peers in key markets. Thailand led with 77% NBV growth, supported by strong contributions from Indonesia and the Philippines.

Partnership distribution also delivered solid results, with NBV reaching EUR 171 million (+2% YoY) and ANP at EUR 389 million (+7% YoY) led by strong bancassurance and affinity performance. Highlights include (+25% ANP) for Allianz PNB Life, Taiwan broker channel (+41% ANP), and HSBC partnerships (+26% revenue). In China, ANP tripled due to strategic banca partnerships, while Affinity NBV increased by 15% YoY.

Customer growth remained robust, with the total customer base expanding to 10.3 million (+10% vs end-2024) and total policies reaching 13.3 million (+6% vs end-2024), reflecting the strength of both Life & Health and Property & Casualty segments.

Smart Growth through Technology

Allianz Asia continues to scale digital innovation to enhance customer experience and boost operational efficiency across its markets. Regional solutions include unified digital platforms for agents, AI-powered tools that personalise sales journeys, and integrated dashboards that streamline engagement and performance tracking. Early GenAI applications such as health claims co-pilot are also helping to automate manual processes, reduce turnaround times, and improve customer outcomes. These efforts reflect Allianz’s commitment to driving smart, quality-focused growth through technology.

Empowering Communities through MoveNow

The Allianz MoveNow Impact Fund supports local projects across markets, with several initiatives from Allianz operating entities in the region receiving grants aimed at enhancing societal resilience and impact.

In Thailand, MoveNow Hero Camp equips children with CPR and emergency response training to help them act in real-world crisis situations. In Taiwan, the Allianz Junior World Cup reached over 1,200 teams, while a new MoveNow “HerGame” experience and “Mulan Award” promoted inclusivity in grassroots girls’ football. In Singapore, the MoveNow Mentoring Programme, which was recognised as a finalist for the Mentoring SG Corporate Excellence Award at the National Mentoring Summit 2024, enters its second year with double the participants, further strengthening support for youths and para-athletes.

In 2025, seven initiatives from Allianz operating entities in the region have been awarded MoveNow Impact Fund grants, underscoring its commitment to building resilient communities and creating meaningful, lasting change.

People and Culture: Building a Future-Ready Workforce

Allianz in Asia has once again achieved Great Place to Work certifications across all 14 operating entities. The region continues to lead in employee engagement and purpose-driven programmes such as #SheLeads -  an initiative that supports professional development, mentorship, and financial literacy for women across the workforce.

The company continues to embrace new ways of working, from scaling GenAI tools that enable and upskill employees, to launching a regional innovation campaign that reinforce Allianz Asia’s culture of innovation and future readiness.

Anusha Thavarajah added, “The success of any organisation lies in its people. As we continue to grow our customer base across Asia, what defines us is not just the scale of our reach - but the strength of our purpose, the innovation we bring to our solutions, and the people who drive it forward every day. We remain focused on building a business that delivers results and creates lasting value for our customers, our teams, and the communities we serve.”

Allianz Group Results

Allianz has delivered excellent results for the second quarter and for the first half of 2025. Total business volume in the second quarter amounted to EUR 44.5 billion, an internal growth of 8.0%. Operating profit has reached EUR 4.4 billion, rising 12.2%. Shareholders’ core net income advanced to EUR 3.0 billion.

For the half-year, Allianz has achieved a record operating profit of EUR 8.6 billion, reaching 54% of the full-year outlook midpoint. Solvency II capitalisation remains strong at 209%, with excellent capital generation.

Thanks to our diversified mix of businesses, global reach, and consistent execution, Allianz is fully on track for its full-year operating profit outlook of 16.0 billion, plus or minus EUR 1 billion.

For full details, please refer to: Allianz Group Media Release: 2Q and 6M 2025