KUALA LUMPUR, Aug 25 (Bernama) -- Allianz Malaysia Bhd ’s net profit for the second quarter (Q2) ended June 30, 2021, decreased to RM145.41 million from RM167.73 million in the same period last year.

       Revenue, however, rose to RM1.57 billion from RM1.40 billion previously, the group said in a filing with Bursa Malaysia today.

       It said the higher revenue was mainly attributed to higher gross earned premiums and investment income by RM158.7 million and RM5.9 million, respectively.

       "For the quarter under review, the general insurance segment recorded operating revenue of RM666.9 million, an increase of 11.5 per cent or RM68.7 million, compared with the preceding year’s quarter of RM598.2 million.

       "This was due to an increase in gross earned premiums by RM70.3 million offset by a decrease in investment income by RM1.6 million,” it said.

       The group also recorded a total of RM2.78 billion in gross written premiums (GWP) in the first six months of 2021, an 8.6 per cent increase, compared with RM2.56 billion it achieved in the corresponding period in 2020.

       Allianz Malaysia chief executive officer Zakri Khir said while the continued restrictions and alarming resurgence of COVID-19 cases continue to occupy the thoughts and lives of Malaysians, it is vital that insurers continue to play the role in providing thoughtful protection that customers desire and deserve.

       "Despite the challenging market conditions, Allianz Malaysia has managed to deliver resilient results for the first half of 2021.

       We will remain conscious of the fluidity of the current business environment and continue to employ short-term strategies to move in tandem with uncertainties and challenges that may come our way,” he said.