Allianz Asia-Pacific lifts profit 11.4% to $529.1m in H1 2026

Singapore recorded a 220.8% increase in property and casualty volume.

Allianz Asia-Pacific has reported strong earnings for the first half of 2026 (H1 2026), excluding its operations in India, the regional unit recorded an 11.4% increase in operating profit to $529.1m (EUR455m).

Within this, the life and health division rose 6.4% to $416.3m (EUR358m), whilst the Property and Casualty business expanded 35.0% to $112.8m (EUR97m) during H1 2026.

The group’s new business value (NBV) went up 3.9% to $460.5m (EUR396m). Excluding Thailand, NBV climbed 16.5% to $370.9m (EUR319m), supported by sharp increases in China (+79.4%), Indonesia (+22.5%), and Malaysia (+12.2%).

Overall NBV growth was heavily influenced by a 25.8% jump in the second quarter compared to the same period in 2025.

Meanwhile, the present value of new business premiums rose 8.0% to $5.2b (EUR4.5b), with major contributions from Indonesia (+49.4%), China (+32.3%), and Malaysia (+27.1%) during the H1 2026 the period.

Total business volume in property and casualty climbed 13.6% to $1.5b (EUR1.3b), backed by substantial growth in Singapore (+220.8%) and Malaysia (+9.8%).

The division’s operating insurance service result rose 63.7% to $81.4m (EUR70m).

Growth across sales channels remained firm. Partnership NBV expanded 12%, led by China (+170%), Malaysia (+40%), and Indonesia (+36%).

The agency channel generated $237.2m (EUR204m) in NBV. Active agent numbers grew by 5%, bringing the active ratio up from 17% to 22%, whilst overall agent productivity rose 8%.

Growth was also registered in Taiwan, where both annualised new premium and NBV increased by 37%.

In July 2026, Allianz reached an agreement to acquire HSBC Life in Singapore. Pending regulatory approvals, the deal is set to complete in the first half of 2027.

At the global group level, Allianz generated a total business volume of $114.7b (EUR98.6b) in the first six months, up 4% on an internal basis. 

Global operating profit rose 9% to a record $10.9b (EUR9.4b), shareholders’ core net income reached $7.4b (EUR6.4b), and the solvency II ratio stood at 225%.

($1.00 = EUR0.86)