Allianz Asia Delivers Strong FY2024 Performance
Singapore, March 6, 2025 – Allianz Asia concluded a successful 2024, demonstrating significant growth across its business segments. The company’s total business volume increased by 15% to EUR8.8 billion ($9.4 billion), according to regional CEO Anusha Thavarajah.
Financial Growth
The life and health (L&H) sector, a major contributor, experienced a 16% rise, reaching EUR6.8 billion. The property and casualty (P&C) segment also saw positive results, increasing by 11% to EUR2 billion. Furthermore, the new business value in the L&H sector surged 31% to EUR7.7 million. This growth was fueled by strong performances in key markets, including Taiwan (up 68%), China (up 31%), and Thailand (up 24%).
Healthcare and Life Insurance
Annualized new premiums also saw an increase of 12% to EUR1.2 billion, with Taiwan (up 27%), Malaysia (up 15%), and Thailand (up 13%) contributing significantly.
Ms. Thavarajah highlighted the company’s ability to achieve these results despite economic headwinds. “Despite headwinds presented by lower interest rates in China, rising medical inflation and increasing climate-related incidences, we have delivered strong results in both financial and non-financial metrics. This success reflects the strength of our leadership team, the unwavering commitment of our people, and, most importantly, our deep customer focus,”
Anusha Thavarajah, Allianz APAC regional CEO
Aaron Fryer, Allianz APAC regional CFO, expressed optimism for the future. “Our notable achievements in 2024 underscores Allianz’s ability to drive consistent, profitable growth while maintaining financial resilience. As a reliable financial partner, we remain steadfast in our commitment to delivering stability and security for our customers, even amid evolving market conditions.”
