Allianz Asia-Pacific enjoys 28% growth
Allianz Asia-Pacific division’s operating profit increased by 28% last year to $499 million, with Australia responsible for 95% of the result.
The region’s combined ratio was virtually unchanged at 96% (95.9% in 2006), according to Allianz Australia spokesman Nicholas Scofield.
The Allianz board member responsible for growth markets, Werner Zedelius, says that following last year’s 29.3% hike in total premium income to $14 billion, the German group is now aiming for $16 billion in premium and “a top-five position in each market” this year.
Overall revenue from Allianz’s Asia-Pacific property and casualty business increased by 11.2% to $3.7 billion, with Allianz Australia contributing two-thirds of total premium, or $2.5 billion.
Life revenue was up 37.1% to $10.2 billion.
The region’s combined ratio was virtually unchanged at 96% (95.9% in 2006), according to Allianz Australia spokesman Nicholas Scofield.
The Allianz board member responsible for growth markets, Werner Zedelius, says that following last year’s 29.3% hike in total premium income to $14 billion, the German group is now aiming for $16 billion in premium and “a top-five position in each market” this year.
Overall revenue from Allianz’s Asia-Pacific property and casualty business increased by 11.2% to $3.7 billion, with Allianz Australia contributing two-thirds of total premium, or $2.5 billion.
Life revenue was up 37.1% to $10.2 billion.