Allianz officially stepped foot in Malaysia in 2001 when it became the controlling shareholder of Allianz General Insurance Malaysia Berhad (“AGIM”). In 2007, the general insurance business of AGIM was transferred to its wholly-owned subsidiary, AGIC. Following the completion of the transfer of general insurance business, AGIM changed its name to AMB and became an investment holding company, with a general insurance (AGIC) and life insurance (ALIM) subsidiary.
AGIC is one the leading general insurer in Malaysia and has a broad spectrum of services in personal lines; small to medium enterprise business and large industrial risks. AGIC also leverages on the banc assurance agreement with CIMB Bank to reach out to the bank’s over-a-million-customer base. The GWP for general insurance business for financial year 2011 reached a mark of RM 1.46 billion.
ALIM offers a comprehensive range of life and health insurance and investment-linked products and for the financial year 2011, ALIM recorded a gross written premium (“GWP”) of RM 1.14 billion and is one of the fastest growing life insurers in Malaysia.
Allianz Malaysia aims to distinguish itself as the most trusted provider of financial services to suit the lifetime needs of Malaysians. The Company sees the importance of sustainable growth through global diversification, the reduction of complexity, value-based management approach, and crucially important employees, ultimately attaining customer satisfaction.