In a filing with Bursa Malaysia today, Allianz Malaysia said its general insurance operation delivered a pre-tax profit of RM73.5 million in 1QFY17, an 18.3% decline from RM90 million in 1QFY16. On prospects, Allianz Malaysia said it is confident of performing satisfactorily for the remaining year and to continue to deliver long-term value to its stakeholders. "The general insurance subsidiary will also leverage on its strong base of motor customers to expand into other non-motor products," it added. It will also focus on the sale of investment-linked regular premium products with rider attachments which provide higher margins," said Allianz Malaysia. Allianz Malaysia shares closed down 8 sen or 0.63% at RM12.52 today, with 391,200 shares done, for a market capitalisation of RM2.18 billion.

Source: The Edge Markets May 30, 2017 15:22 UTC