KUALA LUMPUR: Allianz Malaysia Bhd net profit for the third quarter ended Sept 30, 2023 (3Q FY2023) rose to RM197.86 million from RM139.59 million registered in the corresponding period a year ago.

Revenue for the quarter under review rose to RM1.31 billion from RM1.12 billion, Allianz said in a filing with Bursa Malaysia today.

The insurance provider said for 3Q FY2023, the group recorded an insurance revenue of RM1.31 billion, an increase of 16.8 per cent compared with RM1.12 billion due mainly to higher insurance revenue from both insurance segments.

“For the quarter under review, the general insurance segment recorded an insurance revenue of RM706.9 million, an increase of 8.3 per cent compared to the preceding year’s RM652.5 million due mainly to an increase in gross earned premiums from motor business. – Bernama