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% 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%. Strong developments in the Property-Casualty sector, which recorded a business volume of €28.3 billion, drove this growth. This was up 6.8% from the same period last year.
Shareholders’ core net income surged by 48.4% 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% 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%. The combined ratio improved to 91%, reflecting strong underwriting performance and efficient expense management. Meanwhile, the Asset Management division saw operating revenues increase by 12.7% 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-centred 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% to €23.7 billion.
Allianz’s Solvency II ratio improved to 221%, 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.”
Last updated: 29 June 2026, 12:10 pm
