Allianz Malaysia Berhad has named Giulio Slavich (pictured left) as chief executive officer of Allianz Life Insurance Malaysia Berhad (Allianz Life), effective Jan. 1. Slavich will take over from Charles Ong (pictured right), who will retire as CEO of Allianz Life on Dec. 31 after more than 30 years in the insurance sector. Ong is expected to remain with the organisation in an advisory role.
Slavich joined Allianz Malaysia in 2022 as chief financial officer. In that role, he has overseen the financial reporting and sustainability functions, including implementation of IFRS 9 and IFRS 17, and has been responsible for the group’s agency transformation programme. Before moving to Malaysia, Slavich was global head of the Centre for Competence for Life & Health at Allianz SE Group and previously headed the life segment at Allianz Italy.
Sean Wang, CEO of Allianz Malaysia, commented: “Giulio brings a wealth of experience to his new role, with 25 years of experience in the insurance industry. His career reflects a deep understanding of global insurance dynamics and adaptability across large insurance groups, and we are confident he will take Allianz Life to greater heights.”
Anusha Thavarajah, regional CEO of Allianz Asia-Pacific, added: “Giulio’s appointment reflects our strong talent pipeline and commitment to developing leaders who will lead, shape the industry, and drive long-term, sustainable growth. His international experience and understanding of Allianz Life Malaysia’s business positions him well to support the continued progress of the organisation.”
Commenting on Ong’s retirement, Wang said: “Charles has been a steadfast pillar of strength and wisdom within the organisation. His exceptional leadership and unwavering dedication have been instrumental to the organisation, and the management extends our utmost gratitude for his invaluable contributions.”
Thavarajah also noted Ong’s role in the Malaysian business and his continuing involvement. “I would also like to acknowledge and thank Charles for his leadership and significant contribution to Allianz over the years. His stewardship has built a resilient business in Malaysia, and I look forward to continuing our work together in his advisory role,” Thavarajah said.
The leadership transition comes as Allianz Malaysia reports higher earnings from both general and life insurance operations. The group posted net profit of RM234.2 million for the third quarter of 2025 (Q3 2025), up 27.8% from the same period a year earlier. Quarterly revenue reached RM1.58 billion, compared with RM1.52 billion in the preceding quarter. For the nine months ended Sept. 30, 2025 (9M25), net profit was RM661.2 million on revenue of RM4.63 billion.
According to the company, motor insurance premium growth contributed to the general business, while investment-linked protection and employee benefit programmes supported life and health-related lines. Management said the general segment’s results were driven by “better claims experience and higher net insurance and investment results,” while the life operation benefited from “higher insurance service result, supported by continued discipline in cost control and expense optimisation.”
