Thanks to improved performance in all business segments in the second quarter of 2017,
Allianz saw a 23% rise in operating profit – from €2.4 billion in the same period last year to €2.9 billion (approximately £2.5 billion).
Net income attributable to shareholders soared 83.4% to €2 billion, with total revenues up 2% to nearly €30 billion (approximately £26.8 billion).
Barring unforeseen events, crises, or natural catastrophes, Allianz is positive it will arrive near the upper end of its full-year operating profit target range of €10.8 billion, plus or minus €500 million.
Here’s how Allianz performed in the second quarter:
Property and Casualty (P&C) insurance segment
- Operating profit - €1.4 billion, up 28%
- Total revenues - €11.7 billion, up 0.6%
Life and Health insurance segment
- Operating profit - €1.1 billion, up 12%
- Present value of new business premiums - €13.6 billion, up 2.8%
Asset Management
- Operating profit - €584 million, up 16.8%
- Third-party assets under management - €1.4 trillion, up 7.6%
With over 86 million retail and corporate customers, the Allianz Group posted an operating profit of €11 billion in 2016. It employs more than 140,000 people in over 70 countries.
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