Allianz Asia Reports Strong First-Half Results

Singapore, August 20, 2026

Partnership distribution continued to deliver strong growth across the region, reflecting the strength of Allianz's bancassurance and strategic partner ecosystem. Partnership NBV increased 12%, led by China (+170%), Malaysia (+40%) and Indonesia (+36%). Performance was supported by strong commercial execution and healthy growth across key banking and distribution partnerships, particularly in Malaysia and China.

Agency delivered a resilient performance in H1, with NBV increasing to €204 million, supported by continued improvement in agent activation and productivity across the region. Active agent numbers increased 5% and active ratio improved from 17% to 22%. Agent productivity growth of 8% was driven by strong double-digit growth in new agent productivity of 15%.

These outcomes reflect Allianz's deliberate focus on elevating agency professionalism through increased MDRT participation, productivity-led agency management and leadership development initiatives such as the INSEAD Agency Management Programme. Together, these efforts are helping build a more capable, customer-centric and value-focused agency force across Asia.

Strong contributions from Taiwan, China and Indonesia further reinforced the quality of growth achieved during the period, with Taiwan delivering 37% growth in both ANP and NBV, while China and Indonesia recorded NBV growth of 19% and 12% respectively.

In July 2026, Allianz entered into an agreement to acquire HSBC Life in Singapore, marking a significant investment in one of Asia's most important financial centres. The proposed acquisition reflects Allianz's long-term confidence in Singapore's growth prospects and reinforces its commitment to supporting the evolving protection, health and retirement needs of customers in the market. Subject to regulatory approvals, the transaction is expected to close in the first half of 2027.

Allianz Asia was recognised as a Company of Good by Singapore's National Volunteer & Philanthropy Centre (NVPC), reflecting its commitment to responsible business practices and meaningful contributions to society.

The company also continued to expand its MoveNow Mentoring Programme, developed in partnership with Halogen Singapore and the Singapore Disability Sports Council. The initiative connects Allianz employees and leaders with youths and para-athletes, providing mentorship, career guidance and skills development to help participants build confidence and prepare for future opportunities. Since 2024, the programme has connected more than 100 mentors and mentees across multiple cohorts. 

Further reinforcing its commitment to inclusion, Allianz partnered with the Singapore National Paralympic Council to support Paralympic Day 2026, promoting participation, resilience and belonging through sport, while creating opportunities for people of all abilities to thrive.

Allianz Asia Pacific was certified as a Great Place to Work® for the fourth consecutive year in 2026, with all eight operating entities across the region receiving individual certification. Since 2023, more than 85% of employees across Asia have consistently agreed that Allianz is an inclusive, supportive and collaborative workplace.

The company also continued to strengthen its leadership pipeline through programmes such as Ascent 2030, which brings together high-potential talent from across Asia to deepen their understanding of emerging customer needs, demographic shifts and future protection challenges.

Trust remains a key differentiator for Allianz across Asia Pacific, with encouraging results in the first half of 2026. In Singapore, Allianz's Net Trust Score improved, continuing its upward trajectory and reflecting growing confidence in the brand, while in Malaysia, Allianz maintained a strong Net Trust Score, reinforcing its position as one of the country's most trusted insurers. These results highlight the strength of our customer relationships and demonstrate the confidence people place in Allianz to deliver reliable protection, support and long-term value as their needs evolve.

Anusha Thavarajah adds,

Allianz has delivered excellent results for the first half of 2026 and has sustained its strong performance in the second quarter.

In 6M 2026, total business volume was at 98.6 billion euros, an internal growth of 4 percent. Operating profit rose 9 percent to a record level of 9.4 billion euros. Shareholders’ core net income advanced to 6.4 billion euros and the Solvency II ratio increased to 225 percent, the highest level since 2018. Capital generation remains very good.

This puts us well on track for our 2026 ambitions. At the halfway point of our strategic cycle, the results confirm that we are also on course to deliver on our ambitious Capital Markets Day targets.

For full details, please refer to the 2Q and 6M 2026 Earnings Release.