Allianz Ayudhya Assurance posts strong Q1 performance
Allianz Ayudhya Assurance on Monday reported that it had achieved a strong performance in the first quarter, with gross written premium (GWP) reaching Bt7.8 billion, representing 5.5-per-cent growth from the same period last year.
The listed company is on track to becoming the market leader in life and health protection insurance by the end of the year, with Bt32.5 billion in overall premiums.
President and chief executive officer Bryan Smith said the agency channel had continued to be the major premium contributor during the first quarter, with GWP of Bt2.9 billion, while bancassurance was growing continuously, generating GWP of Bt2.6 billion.
“We remain the market leader in premiums with GWP of Bt1.2 billion generated through direct marketing,” he added.
Meanwhile, Germany-based Allianz Group, the major shareholder of Allianz Ayudhya Assurance, reported total revenues of €36.2 billion (about Bt1.37 trillion) for the first quarter, with all segments contributing to a 2.5-per-cent rise, year on year.
