Key Segments Drive Growth
Allianz has announced a record operating profit of €4.5 billion for the first quarter of 2026. This marks a 6.6 per cent increase from the previous year. The Munich-based insurance giant attributed this growth to robust performances in its Property-Casualty and Asset Management divisions.
Total business volume reached €53 billion, representing an internal growth of 3.5 per cent. Strong developments in the Property-Casualty sector, which recorded a business volume of €28.3 billion, drove this growth. This was up 6.8 per cent from the same period last year.
Shareholders' core net income surged by 48.4 per cent to €3.8 billion, largely impacted by the sale of stakes in Allianz's Indian joint ventures. Core earnings per share also rose significantly by 50.7 per cent to €9.96.
Growth Propelled by Major Segments
The Property-Casualty segment delivered a record operating profit of €2.4 billion, a rise of 11.1 per cent. The combined ratio improved to 91 per cent, reflecting strong underwriting performance and efficient expense management. Meanwhile, the Asset Management division saw operating revenues increase by 12.7 per cent to €2.2 billion, with third-party net inflows reaching a record €45.2 billion.
Oliver Bäte, Chief Executive Officer of Allianz SE, stated, "Allianz delivered a record operating profit in the first quarter of 2026, a testament to the strength of our fundamentals and the effectiveness of our customer-centered strategy."
The Life/Health insurance segment showed resilience despite a volatile market environment, achieving an operating profit of €1.4 billion. However, the present value of new business premiums decreased by 9.1 per cent to €23.7 billion.
Allianz's Solvency II ratio improved to 221 per cent, supported by strong capital generation. The company remains on track to achieve its full-year operating profit outlook of €17.4 billion, plus or minus €1 billion.
A share buy-back programme of up to €2.5 billion was announced on February 25, 2026. As of now, €0.3 billion has been completed in the first quarter.
CFO Claire-Marie Coste-Lepoutre commented, "Allianz’s first-quarter performance reflects the quality of our diversified portfolio and the rigorous execution of our strategic priorities."
