Allianz: Achieves record profits in first half of 2024

Allianz: Achieves record profits in the first half of 2024
Group fully on track for full-year outlook, powered by strong fundamentals
2Q 2024:
  • The total business volume advances 7.6 per cent to 42.6 billion euros
  • Operating profit reaches 3.9 billion euros driven by good results in all segments
  • Shareholders’ core net income is stable at 2.5 billion euros
6M 2024:
  • The total business volume rises by 6.4 per cent to 91.0 billion euros
  • Operating profit increases by 5.3 per cent to 7.9 billion euros driven by all segments
  • Shareholders’ core net income advances 7.7 per cent to 5.0 billion euros
  • Strong Solvency II capitalization ratio of 206 percent
Outlook:
  • 2024 operating profit target affirmed at 14.8 billion euros, plus or minus 1 billion euros
Other:
  • Share buy-back of 1 billion euros executed by the end of July 2024
  • The decision to expand the total volume of the share buy-backs in the financial year 2024 to a total of 1.5 billion euros
  • Allianz has therefore resolved to repurchase additional shares in a volume of up to 500 million euros
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Allianz
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