12th November 2023

Allianz increases revenue by 4.5% to E36.5bn in Third Quarter-Full Year Outlook affirmed

Highlights are:
3Q 2023:
-Total business volume increases 4.5% to E36.5bn
-Operating profit softens by 14.6% to E3.5bn; driven by the Property-Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade
-Shareholders’ core net income E2.1bn, down by 29.3%
9M 2023:
-Total business volume rises 4.7% to E122.1bn
-Operating profit increases 3.6% to E11bn: primarily driven by the Life/Health business segment
-Shareholders’ core net income E6.8bn, up by 25.5%
-Further improved Solvency II capitalisation ratio of 212%t, compared with 201% at the end of 4Q 20221
-2023 operating profit target confirmed at RE4.2bn, plus or minus E1bn
-Share buy-back of up to E1.5bn close to completion

Allianz Trends(810 articles)