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Allianz continues to eye Asia opportunities as it aims for market leader status: CEO

But, Oliver Baete ensures that investing in growth does not have an impact on the insurer’s ability to generate free cash flows, which he expects is the better way to grow business in the long term

Tan Nai Lun

Tan Nai Lun

Published Mon, Jul 22, 2024 · 05:00 AM
    • “We’re not in Asia to buy top line; we want to build a resoundingly profitable business,” says Oliver Baete, chief executive of Allianz.
    • “We’re not in Asia to buy top line; we want to build a resoundingly profitable business,” says Oliver Baete, chief executive of Allianz. PHOTO: ALLIANZ

    ALLIANZ continues to seek growth opportunities in Asia, as the German financial services giant aims to be the market leader in the countries it operates, said its chief executive Oliver Baete.

    In an exclusive interview with The Business Times, Baete noted that the Asean region presents opportunities to drive further growth.

    His comments follow a Wednesday (Jul 17) announcement from the insurer on plans to acquire a 51 per cent stake in Singapore’s Income Insurance, in a deal valued at around 1.5 billion euros (S$2.2 billion).

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