The Pakistani non-life insurer generated positive underwriting and investment results, producing a 16.3% weighted average return on equity between 2021 and 2025.
The city will fund half the premium, up to 1m yuan (US$150,000) per company each year, and has launched an SME package where 9,800 yuan buys 5.5m yuan of cover.
Heibutzki will succeed Tom Wilson as Thailand country manager, while Allianz Re executive Sanghun Park is set to take over the group's general insurance business.
Risk-adjusted capitalisation is expected to remain at its strongest level, but the agency noted that volatile cover and a small net premium base have kept underwriting profitability subdued over the past...
