Published: Friday July 6, 2012 MYT 3:40:00 PM
Allianz Malaysia hopes to sustain double-digit earnings
KUALA LUMPUR: Allianz Malaysia Bhd hopes to sustain its double-digit earnings for this year amid uncertainty in global economic growth.
"At the moment, we are growing in the lower double-digit and our aim is to outperform the market and our peers.
"Given the low penetration in life insurance and product innovation that we have, we think this plan can be achieved," its Chief Executive Officer Jens Reisch said on Friday.
He was speaking to reporters after the launch of the Allianz Academy here.
The Academy is part of the company's initiative to create a culture of learning and development for all its employees.
"The Allianz Academy is an important learning and development enabler as the company believes in offering careers, not only jobs.
"It is an avenue for employees to participate in trainings, and some will be further developed and accredited to become trainers and coaches," Reisch added.
Meanwhile, Allianz Malaysia subsidiary, Allianz General Insurance Company (Malaysia) Bhd (AGIC), will strengthen its distribution channel to also maintain its double-digit growth for this year.
"The growth could be more if the economy was better. As of the first quarter, the latest insurance industry statistics put us at the top in terms of general insurance, where we recorded a 10.5 per cent market share.
"We anticipate that it could be quite similar towards the end of the year," said AGIC Chief Executive Officer, Zakri Khir. - Bernama