Allianz Increases Operating Profit by 6.8% to 4.0 Billion Euros
View the full release here: https://www.businesswire.com/news/home/20240514050487/en/
- View the full release here: https://www.businesswire.com/news/home/20240514050487/en/
Oliver Bäte, Chief Executive Officer of Allianz SE (Photo: Allianz SE)
Operating profit increases 6.8 percent to 4.0 billion euros driven by the Property-Casualty business segment, supported by good results in the Asset Management and the Life/Health business segments
Shareholders’ core net income rises to 2.5 billion euros, up by 15.7 percent
2024 operating profit target maintained at 14.8 billion euros, plus or minus 1 billion euros2
1 billion euros share buy-back started, 0.5 billion euros completed
Excluding the application of transitional measures for technical provisions and with quarterly dividend accrual. - 1Q 2024: Operating profit was strong at 4.0 (1Q 2023: 3.7) billion euros, up by 6.8 percent, driven by the Property-Casualty business segment and was broadly equally split between an increased operating insurance service result and a higher operating investment result.
- Shareholders’ core net income increased to 2.5 (2.2) billion euros due to a higher operating profit and non-operating result.
- We confirm our full-year outlook of an operating profit of 14.8 billion euros, plus or minus 1 billion euros.”
1Q 2024: Total business volume increased by 5.7 percent to 25.5 (24.1) billion euros.