KUALA LUMPUR: Allianz Malaysia Bhd
plans to continue prioritising growth opportunities and create prospects for employees.
Chief executive officer (CEO) Sean Wang said priority will be given to areas such as the expansion of distribution capabilities and the enhancement of products and services, which are designed with a customer-centric philosophy to ensure that they meet market needs.
"Going into 2023, we see that certain sectors of the economy have recovered while others continue to gain upward momentum.
"The theme of recovery applies to us as well and we expect the business of Allianz General to grow in tandem with domestic gross domestic product (GDP) growth as we continue to carry out the outstanding delivery of products and services that address the needs of our customers,” he told the media after the company’s annual general meeting today.
Wang said the group aims to enhance returns by driving excellence in technical expertise, including improving pricing, underwriting and claims processes, as well as actively managing investment portfolios while maximising operational efficiency to build scale and secure profitable margins.
"We expect Allianz Life to outperform the industry again and restore growth on the back of our strong distribution channels and innovative products.
"The strength of our technical pricing has always been a source of pride for both Allianz General and Allianz Life, and we will continue to utilise this strength where needed,” he said.
Wang noted that the company will work towards delivering its aspirations under Pinnacle 2030, the Allianz Asia Pacific Strategy.
He said Allianz Malaysia will also consistently seek ways to deploy its capital most effectively, which entails allocating resources into innovative and capital-efficient business models and solutions.
"At the same time, we will work on improving our ability to better control tail risks by managing our reinsurance, strengthening our underwriting capabilities, and reviewing our risk exposure.
"Our focus on capital resilience is matched by our focus on talent development and talent diversity to strengthen our organisational resilience,” he said. - Bernama
