Allianz Ayudhya Assurance Public Company Limited announces impressive business performance in 2023, with Gross Written Premium reaching 36.2 billion baht, a 6% growth. The company is continuing its exceptional performance by focusing on developing full-time professional agents, increasing the proportion of health and investment products and delivering excellent service, to achieve a Gross Written Premium (GWP) target of 41 billion baht in 2024.
Mr. Thomas Wilson, President and CEO at Allianz Ayudhya Assurance PCL, states that "In 2023, the company achieved outstanding performance despite numerous headwinds including, tepid GDP recover, increased health claims and financial market volatility. Gross Written Premium (GWP) grew by 6% to 36.2 billion baht. The Annualised New Premiums (ANP) grew by 4% to 7.3 billion baht, with 3.2 billion baht from sales agents, 2.4 billion baht through banks, 1.4 billion baht from direct marketing and approximately 170 million baht from Group Employee Benefit. Health insurance continues to be the most prominent products, with ongoing growth, making Allianz Ayudhya the third largest in the Thai health insurance market."
"The company’s agency channel showed strong growth. Number of new recruitment agents soared to over 9,300, growing by 34%, and the number of active agents increased to more than 3,300, a growth of 13%. The number of agent management promotion reached 34 positions, which is considered very high.“
Allianz Ayudhya also has strong and resilient balance sheet with risk-based capital ratio at 306%, 166 pp higher than a regulatory requirement. In terms of customer satisfaction, the company achieved NPS (Net Promoter Score) at the Loyalty Leader level. In terms of employee engagement, based on the annual survey of Allianz Engagement Survey (AES), the company is in top five among Allianz Group companies worldwide. Many key achievements also includes awards from both governmental and private organization, reflecting the successful management and execution of strategies.
