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Allianz Ayudhya to keep adequate performance with health, commercial growth

Despite this, operations stayed profitable in early 2025.

Allianz Ayudhya General Insurance (AAGI) is expected to maintain adequate performance over the medium term, with growth led by health and commercial products, according to AM Best.

The insurer posted a combined ratio of 101.1% in 2024, compared with 96.7% in 2023, mainly from flood and health claims. 

Despite this, operations stayed profitable in early 2025, supported by stable investment income.

Following its 2023 merger with Aetna Health Insurance, AAGI has expanded its scale in health insurance and aims for stronger premium growth through enhanced distribution and disciplined underwriting.
 

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