Firm touts strong efficiency throughout varied segments
To kick off 2024, Allianz SE has introduced a rise in its working revenue by 6.8%, reaching €4.0 billion, in comparison with €3.7 billion in the identical interval the earlier 12 months.
This progress, because the insurer highlighted, was supported evenly throughout varied enterprise segments, with vital contributions from each insurance coverage service and funding outcomes.
The corporate’s whole enterprise quantity expanded by 5.3% to €48.4 billion, with optimistic inputs from all divisions. Notably, the property-casualty phase skilled substantial progress attributable to efficient pricing methods, whereas the life/well being phase noticed beneficial properties primarily from robust gross sales within the US and Italy.
The asset administration division, in the meantime, benefited from elevated belongings beneath administration (AuM) and better efficiency charges, recording an inner progress charge of seven.5%.
Internet revenue attributable to shareholders additionally noticed an increase, shifting from €2.0 billion within the earlier 12 months to €2.5 billion. Moreover, core earnings per share (EPS) elevated from €5.43 to €6.42, and the annualized core return on fairness (RoE) was reported at 17.4%, up from 16.1% on the finish of 2023.
Claire-Marie Coste-Lepoutre, CFO of Allianz SE, commented on the quarter’s outcomes, highlighting the agency’s strategic successes.
“Allianz’s robust efficiency within the first quarter demonstrates our unwavering dedication to worth creation,” she stated.
Coste-Lepoutre identified key achievements throughout enterprise strains: robust inner progress and self-discipline in property-casualty, widespread progress and a lovely margin in life/well being, and vital third-party internet inflows and efficiency charges in asset administration.
“We had an excellent begin into the 12 months and our capability to create worth for our shareholders is supported by a robust Solvency II ratio of 203 %. We verify our full-year outlook of an working revenue of €14.8 billion, plus or minus €1 billion,” she stated.
Oliver Bäte, CEO of Allianz SE, additionally mirrored on the corporate’s efficiency within the first quarter of the 12 months.
“Allianz’s robust outcomes exhibit the standard of our fundamentals, the worth of consistency within the execution of our technique, and the benefit of the broad abilities and skillsets which might be represented throughout our group,” he stated.
Bäte additional highlighted the significance of their strategy throughout unsure instances, emphasizing Allianz’s place as a most popular accomplice within the insurance coverage sector.
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