Amid the COVID-19 crisis, Allianz Asia-Pacific reported a 12.7% increase in revenue to €3.6 billion, with total operating profit down by 4.3% to €249 million.
The insurer reported a strong increase in revenue for its P&C business, up by 21.3% to €659 million, with notable contributions from the markets of China, Thailand. and Malaysia. P&C operating profit in the region increased 16% to €58 million. Combined ratio improved by 0.5 percentage points to 97.3% versus the previous year, driven by improvements in both expense and loss ratios.
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