Market volatility weakens Allianz Asia-Pacific's new business value

Singapore

GERMAN insurer Allianz's new business value (NBV) in the Asia-Pacific region went down in the first six months of the year but the company said its new business margin has risen, amid challenging market conditions.

Excluding foreign exchange effects, NBV fell 9 per cent year-on-year to 100 million euros (S$151 million), primarily due to weaker unit-linked sales in the banking channels, the insurer said.