KUALA LUMPUR (Jan 9): Allianz Malaysia Bhd has declared second interim dividends of 69 sen per ordinary share and 82.8 sen per irredeemable convertible preference share (ICPS) for the financial year ended Dec 31, 2023 (FY2023).

The company said this brought the ordinary share dividend for the full year to 100.5 sen, surpassing the previous record dividend of 85 sen declared for FY2022.

Meanwhile, the full-year dividend for ICPS rose to 120.6 sen, also the highest total dividend following the 102 sen paid for FY2022, the insurer said in a statement on Tuesday.

Chief executive officer Sean Wang said the company’s focus was on profitable growth last year, and that had very much become the theme of 2023.

“As of the third quarter ended Sept 30, 2023 (3QFY2023), the top line had shown tremendous results, but the bottom line had accompanied this trend, and even surpassed it in some instances.

“Our strong emphasis of technical excellence has allowed us to build on our profit margin, and we are extremely pleased to be able to announce our dividends to the shareholders who have continued to place their commitment and trust in us,” he said.

On Nov 23 last year, Allianz Malaysia reported an unaudited net profit of RM197.86 million for 3QFY2023, a 41.7% increase from RM139.59 million a year earlier.

The group recorded an insurance revenue of RM1.31 billion, up 16.8% from RM1.12 billion for the same quarter of the preceding year, as both the general and life insurance segments achieved better revenue.

“The company's results are on the right trajectory, and the declaration of dividends reflects its dedication to rewarding its shareholders for their continued support,” Allianz Malaysia said.