Allianz enjoys strong 2015 boosted by P/C unit
Allianz Group achieved strong results in 2015 with its operating profit rising to €10.7 billion largely driven by a good fourth quarter. Its net income also increased to €6.6 billion compared with €6.2 billion a year earlier.
In its property/casualty insurance segment, both gross premiums written and operating profit increased – the latter despite a higher impact from natural catastrophes compared to the previous year.
The company also enjoyed solid growth in its property/casualty unit last year which increased its gross written premiums by 6.8 percent to €51.6 billion. It said that Allianz Worldwide Partners, Turkey and industrial insurer Allianz Global Corporate & Specialty were the main drivers of this.
In its life and health insurance segment, the strategic shift in product mix accelerated, leading to a slight reduction in revenues, while operating profit increased.
“Allianz steadily delivers strong results in increasingly challenging operating conditions. Our business is healthy and well-diversified. This makes us confident that we will continue to deliver strong earnings. We look to generate 10.5 billion euros in operating profit in 2016, plus or minus €500 million ,” said Oliver Bäte, CEO of Allianz SE. “For 2015, the Board of Management will propose a dividend of €7.30 per share, an increase of 6.6 percent over 2014.”
Dieter Wemmer, CFO of Allianz SE, added: “Strong performance in our insurance operations plus performance fees in asset management in the fourth quarter drove full-year operating profit close to the top of the target earnings range. Active risk management led to a strong capital ratio of 200 percent under Solvency II rules, leaving us well prepared for today’s volatile markets.”
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk