Last Price Today's Change   Day's Range   Trading Volume
13.18   -0.10 (0.75%)  13.16 - 13.26  44,500
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Market Cap: 2,331 Million
NOSH: 177 Million
Avg Volume (4 weeks):41,831
4 Weeks Range:13.16 - 13.90
4 Weeks Price Volatility (%):
52 Weeks Range:11.40 - 17.02
52 Weeks Price Volatility (%):
Average Price Target: 16.90
Price Target Upside/Downside: +3.72

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2020 [#2]  |  27-Aug-2020
Next QR | Est. Ann. Date: 30-Sep-2020  |  27-Nov-2020
T4Q P/E | EY: 4.46  |  22.44%
T4Q DY | Payout %: 4.93%  |  21.95%
T4Q NAPS | P/NAPS: 22.4201  |  0.59
T4Q NP Margin | ROE: 9.16%  |  13.19%


Date Subject
01-Oct-2020 Allianz Malaysia - Attractive Valuation; Decent ROEs
28-Aug-2020 Allianz Malaysia - Reversal in Fair Value Gains Drives a Stronger 2Q20
26-Jun-2020 下跌股:Allianz RM13.86支撑
17-Jun-2020 【行家论股/视频】ALLIANZ 次季业绩料更佳
17-Jun-2020 Allianz Malaysia- Fair Value Losses Dampen Bottomline
17-Jun-2020 PublicInvest Research Headlines - 17 Jun 2020
17-Jun-2020 【业绩更新】- ALLIANZ(1163)保险巨头在2020年首季净利下跌 20%,是不是开始看到业绩退步潮了?
19-May-2020 Allianz sees more payment defaults in October when moratorium ends
02-May-2020 安联保险 ALLIANZ(1163),投资价值浮现了吗?
17-Apr-2020 Syarikat Takaful Malaysia - Looking Beyond This Year
16-Apr-2020 【行家论股/视频】ALLIANZ 料维持派息率
28-Feb-2020 Allianz Malaysia - Above Expectations; Fair Value Gains Boost
10-Feb-2020 ALLIANZ (1163)
10-Jan-2020 Daily technical highlights – (ALLIANZ, HLFG)
09-Jan-2020 【视频】ALLIANZ 未来派息会更高
23-Dec-2019 Trading Stocks - Allianz Malaysia
17-Dec-2019 Best Defender Stock In Malaysia : ALLIANZ (1163)
29-Nov-2019 上升股:ALLIANZ阻力RM15.2
28-Nov-2019 Allianz Malaysia (BUY, Maintain) - Another Strong Quarter, Above Expectations
28-Nov-2019 Mplus Market Pulse - 28 Nov 2019

Business Background

Allianz Malaysia Bhd is a diversified insurance company that provides life and general insurance in Malaysia. The vast majority of the company’s revenue is generated through insurance premiums, with the remainder stemming from investment income as well as fee and commission income. The company’s general insurance includes automotive, home, and personal insurance. Allianz Malaysia’s business insurance includes fire, engineering, and liability insurance. The company also offers life insurance through a variety of its products.
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  5 people like this.
Junichiro I think traditional insurance industry is more resilient. If u say travel insurance, ppl can just click. But not many ppl buy travel insurance. If u buy life insurance, medical insurance .., u need somebody to explain to you personally.
24/04/2020 9:08 AM
RainT yes and in case any bad things happen

we hope have human service to follow up

but of course that come with higher premium

if all use tech insurance, think premium will be lower as save on the commission given to agent
28/04/2020 6:28 PM
pinnaclegrade any reason why Allianz is a better choice compared to Takaful?
Takaful seem to have higher dividend yield but Allianz is stronger fundamentally.
30/04/2020 12:09 PM
SilverHawk Allianz : 100 years Super Brand MNC
Takaful : Local GLC
02/05/2020 12:09 AM
pinnaclegrade @Silverhawk but, Takaful is currently undervalued vs Allianz slightly above fair price (over valued)
02/05/2020 1:11 AM
kywoo If you follow Berkshire Hathaway general insurence quarterly result, you will note they make higher profit from motor insurance business because of less travel,thus less accidents, thus less motor claims and thus better profit margin. As Allianz is market leader in motor insurance business in Malaysia, it will benefit from better profit from their insurence becausr of lesser claims. March,April and May will be good months Like it or not, you have to insure for vehicles even if you travel less
03/05/2020 2:33 PM
limyuwei u might as well as buy LPI then, pure GI.
05/05/2020 11:20 AM
kywoo LPI is just in general insurence. Allianz is in both general and life insurance. In fact, life insurence is far more profitable. In the long run, LPI will lose out to Allianz in terms of growth in premium collection and profitability.
06/05/2020 10:31 AM
karimboss Great Eastern 1Q earnings plunge 90% to S$33.9m

06/05/2020 1:47 PM
RedEagle The Board of Directors of MBSB has recommended a Single-Tier Final Dividend of 3.0 sen net per Ordinary Share for the financial year ended 31 December 2019 ("Proposed Dividend").

Based on the total number of ordinary shares issued of 6,713,401,615 as at 31 December 2019, the Proposed Dividend payable would be approximately RM201.4 million.

The Board of Directors has determined that the option to reinvest via the Dividend Reinvestment Plan ("DRP") shall apply to the entire portion of the Proposed Dividend. The approval for the Proposed Dividend will be sought at the coming Annual General Meeting.

Under DRP, shareholders will have the following options in respect of the electable portion:-

(a) elect to exercise the option and thereby reinvest the entire electable portion (or a part thereof) at the issue price of the new MBSB shares ("DRP Price") and to receive cash for the remaining portion of the dividend (in the event that only part of the electable portion is reinvested); or

(b) elect not to exercise the option to reinvest and thereby receive their entire dividend entitlement wholly in cash.

There will be no brokerage fees and other related transaction costs payable by shareholders on the new MBSB shares allotted pursuant to the DRP.

The Books Closure date in respect of the Proposed Dividend will be announced after the Annual General Meeting.

This announcement is dated 6 May 2020.
06/05/2020 6:44 PM
pinnaclegrade what do you guys think about the Conversion of Preference Shares for Allianz?
08/05/2020 3:46 PM
kywoo If i am not wrong, there is no time limit for conversion of the preference shares to ordinary shares. The only disadvantages of the preference shares are minimal i.e no voting rights and highly unmarketable. If one intend to stay put on investing in the company because it is a good investment, then it is better not to convert at all. The dividend for the preference shares is much higher than the ordinary shares. Hence with the higher payout, why go for a lower one.
09/05/2020 3:35 AM
pinnaclegrade Guess it is not a concern for long term investment, unless one wants liquidity
10/05/2020 6:50 PM
Ex7121 I just swap my ordinary to preference the other day, when both are having similar prices
16/05/2020 4:17 PM
liegelord always love this
20/05/2020 10:00 AM
RainT TAKAFUL is Islam market potential

ALLIANZ good fundamental for long term
23/05/2020 5:28 PM
SilverHawk I send this group the gift 15.10 ^_^
Back to 15 level after 3 month 。。。
05/06/2020 2:42 PM
kywoo A good counter will stand all the volatility of the stock market. Allianz was pushed down to 11.30 in march. Within two and half months it goes back to above 15.00. This is a really good company with strong fundamentals and growth potential. If you have this stock, just keep it for long term investment and see the capital appreciation over time. Another Nestle in the making.
05/06/2020 8:26 PM
pinnaclegrade Allianz seems to be taking their time releasing their QR report
10/06/2020 11:30 PM
Coffin Dance koyak liao, just 1/2 month March in MCO, the damage so significant.....cilaka, other finance stocks & insurance need to lari cepat-cepat
16/06/2020 5:33 PM
Ex7121 No biz is spared unless you are in the biz of gloves and face masks. Oh, one more line stands do benefit, politics.
16/06/2020 9:00 PM
RainT slow and steady
18/06/2020 6:55 PM
LA777 Yes, most defensive stock in bursa.
18/06/2020 8:32 PM
lls9988 Post removed. Why?
20/06/2020 2:34 PM
aarontan1987 sell sell sell sell
02/07/2020 7:25 PM
Ex7121 Run for your life...
03/08/2020 11:57 AM
Flapxi I would argue that the recent price weakness is prefect opportunity to accumulate! Do your research properly



10/08/2020 3:51 PM
RainT during MCO , all companies report drop in profit or make loss

but ALLIANZ is report highest profit ever !!!!

well done management team ALLIANZ
27/08/2020 5:26 PM
chtan33 Allianz is EPS champion in bursa..
27/08/2020 7:37 PM
Flapxi Told you so? ;) Doing proper research is not difficult. All the info is there if you bother to read what I’ve posted 2 weeks ago!
27/08/2020 9:15 PM
observatory Basic EPS is 94.82 sen (diluted EPS 48.45 sen) versus 66.57 sen (33.99 sen) a year ago. On appearance a 42% increase is an extraordinary result.

However, the consolidated P&L shows that there is a fair value gain of RM368 million (versus FV gain RM128 million a year ago). This is probably contributed by the fixed income investment due to lower interest rate.

Part B Note 1.3 also mentions higher PBT for the general insurance segment is mainly due to lower motor claims ratio during MCO period. This is likely to be a one-time effect too. Claim ratio in Q2 is 54.5% versus 61.1% a year ago.

But it is still good result. Gross earned premium at RM1,228 million is higher than a year ago, although slightly lower than RM1,306 million in Q1.
28/08/2020 12:57 AM
charlietan89 aarontan1987 sell sell sell sell. AMEN!
28/08/2020 1:02 AM
SilverHawk SuperBrand MNC, never disappoint us ^_^
28/08/2020 9:25 AM
myinvesting Q2 2020 analyst briefing report
28/08/2020 11:23 AM
LA777 This is for long term investment.
28/08/2020 2:27 PM
myinvesting Maybank Investment TP RM16.75

Strong investment gains in 2Q20

Twin engines support growth Allianz’s 1H20 results were above our expectations, due largely to strong investment gains, though topline growth was marginally better than expected as well. Forecasts are maintained for now pending its analyst briefing but as it stands, Allianz is one of the best managed insurance companies in the industry and the twin exposure to both life and general
insurance is very much complementary. BUY maintained with an unchanged SOTP-derived TP of MYR16.75.

Above expectations

Allianz reported a 2Q20 net profit of MYR168m (+43% YoY, +111% QoQ) leading to a 1H20 net profit of MYR247m (+14% YoY). The results were significantly above our expectations at 58% of our full-year forecast, supported mainly by strong MTM investment gains, given the decline in
bond yields during the quarter. Topline nevertheless did surprise positively as well, with growth in the gross written premiums of both the life and general insurance businesses, despite the Mandatory Control Order (MCO).
28/08/2020 10:09 PM
observatory @ kywoo, I read you comment on 23/03/2020. You mentioned "Thirdly, on conversion to ordinary shares you will get conversion rate of less than 1 to 1 basis."

I've tried to figure out the ICPS conversion ratio. The Annual Report of 2019 seems to imply conversion ratio is 1 to 1. It said "During the financial year, the Company increased its ordinary shares to 176,887,639 by the issuance of 199,200 ordinary shares pursuant to the conversion of 199,200 ICPS"

However, according to the circular below, Clause 4.10 (B) in page 9 states "that number of new AMB share(s) that holder of each ICPS is entitled to receive .... shall be multipled with the following formula:- revised number of AMB share/ original number of AMB share".


Do you refer to this formula? I have no idea what it is talking about. If you do can you explain? Is there any cost involved in conversion?

Clause 4.10 (A) also mentions the tenure is perpetual. So I think you're right that there is no time limit for conversion (unless it's forced conversion during winding up/liquidation).

That brings me to another question. 23 millions ICPS have been converted since 2011. Why did ICPS holders want to convert to ordinary shares?

Did it have to do with price? I note in certain years ICPS price tended to transact at a discount but at other years at a premium.

Or ease of selling? But that only make sense for large quantity selling. For a small quanitty, selling the ICPS directly in the illiquid market may still be faster than waiting for conversion into ordinary shares.

Any thought on that?
31/08/2020 3:30 PM
Felicity Could be due to price or sometimes the ICPS is less tradable. It should be 1 to 1 ratio. The reason that it was created could he because of shareholding conditions imposed on foreign held companies
31/08/2020 4:39 PM
myinvesting Conversion ratio is 1 to 1, ie. one(1) ICPS to one (1) ordinary. One of the reason for conversion is due to liquidity and low volume of ICPS as holding company of AMB is holding 85% and the rest are mainly hold by funds. Converting to ordinary shares - easier to sell.

The utmost benefit of holding ICPS - it entitles to 1.2x more dividend (or 20% more) than ordinary shareholders.

ICPS is very not liquid and low volume due to reasons abovementioned. So the price over the period may not be representative whereby it may not move along with ordinary shares immediately. Generally, it should be at premium due to 1.2x dividend entitlement given Allianz Malaysia is declaring increasing and good dividend in recent years with adopted dividend payout policy.
31/08/2020 4:54 PM
myinvesting kywoo, you are sharp and spotted the market trend, as evidenced in its Q2 QR. 64% topline of Allianz General is in motor business and stands to benefit from lower motor claims during MCO and even RMCO as many companies practice working from home nowadays, reduced traffics on the roads and less accidents (claims).

kywoo If you follow Berkshire Hathaway general insurence quarterly result, you will note they make higher profit from motor insurance business because of less travel,thus less accidents, thus less motor claims and thus better profit margin. As Allianz is market leader in motor insurance business in Malaysia, it will benefit from better profit from their insurence becausr of lesser claims. March,April and May will be good months Like it or not, you have to insure for vehicles even if you travel less
03/05/2020 2:33 PM
31/08/2020 5:09 PM
observatory @Felicity, @myinvesting,
Thanks for your input.

According to this article, the ICPS was created to repay a loan extended by Allianz SE for an acquistion.

I agree the ICPS should be at a premium given dividend is 1.2X. However the low liqudity works against it, especially if there are more ICPS sellers than buyers, who are mostly long term investors.

May be that explains the continous conversion over the years. But the ocnversion pace has slowed since 2019.
31/08/2020 6:51 PM
Jarklp Solid Q2 performance. Thanks for sharing the analyst briefing slides.

Slide 25 shows that investment income this year dropped by almost RM476m (as compared to 2019). The breakdown indicates that most of the investment loss is passed to their par and investment linked policyholders and not the shareholders, this explains why the life insurance business is doing fine despite much lower investment return as they are not taking excessive investment risks in their non-participating and shareholders' fund. Interesting to note that they also don't have the negative impact of lower interest rate. The asset/liability management must be very done. The main concern is life new premium dropped 46% in the second quarter from 167.8m to 90.8m due to MCO.

Their general insurance business is very stable, hope they continue to enjoy lower claim in 3Q as many still working from home.
02/09/2020 12:15 AM
myinvesting The unique of life insurance business is that there is large block of existing portfolio prodiving stable income in addition to new business which is to add on to the growth.
Lower new business during MCO mainly due to face to face restriction imposed by Bank Negara. Agents will catch up their new business as this is their bread and butter.
02/09/2020 8:10 AM
myinvesting From Allianz annual report, Allianz signed on as preferred partner for Pos Malaysia since Q4 2020. General insurance industry would know that Pos Malaysia is one of the major business sources for many general insurers given its large network of branches nationwide.
02/09/2020 9:25 AM
myinvesting KPJ and IHH hospital revenue have been dropping in last 2 quarters during MCO.

When the hospital business is getting lesser during pandemic and people avoid visiting hospitals / avoid seeking medical treatment during COVID-19 pandemic,
....on the other hand, it means lesser medical claims against the insurance companies, especially life insurance companies.

During pandemic, the positive effect on life insurance companies is lower medical claims. Generally, medical portfolio is the largest portfolio of most life insurance companies and usually claim ratio is also very high due to expensive medical + inflation.

Lower claims against insurance companies will give substantial savings and profits to insurance companies.

Allianz General will see better profit from its motor business (lower motor claims due to reduced traffics on the road) and Allianz Life will see better profit from its medical business (lower medical claims).
03/09/2020 11:33 PM
myinvesting Do you wonder why the insurance companies do not really suffer substantial medical claims despite pandemic?

It is because if the policyholder is a confirmed COVID-19 case, he/she needs to admit to the designated government hospital instead of private hospital, and essentially the costs are borne by the government hospitals.

Cost to insurance companies is just RM50 or RM100 per day for hospitalised to government hospital.

Secondly, the number of cases in Malaysia is not that high and under control I would say.
03/09/2020 11:48 PM
limyuwei https://www.facebook.com/klevin.hen/posts/10220371012562871
27/09/2020 5:37 PM
Pinky AmInvestment initiate coverage terus go up?
01/10/2020 3:48 PM
Alfonso Alliance insurance agent all very lanai wan, always show off their BMW or Mercedes to prove that they earned slot! Pui!
10/10/2020 4:35 PM
Pinky U mean NPG GROUP lol
10/10/2020 6:54 PM

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