Allianz increases operating profit by 14.9 percent to 7.5 billion euros in first half of 2023

The Allianz Group published today its financial results for the first half of 2023. Total business volume rises 4.8 percent to 85.6 billion euros. Operating profit increases 14.9 percent to 7.5 billion euros: primarily driven by Life/Health and Property-Casualty business segments.

“Allianz’s excellent results in the first half of 2023 demonstrate the strength of our fundamentals as we capitalize on our global scale and diversified business mix for the benefit of our customers and our shareholders. With our double-digit growth in profits we are well on track to achieving our Group targets for the year.

I am particularly pleased by the strong performance in the Property & Casualty business where we have achieved a strong 92% combined ratio, by the continued volume and profit growth of our Life & Health business, as well as by the resilience of our Asset Management segment, which recorded positive third-party net inflows for the second quarter in a row despite cautious investor sentiment. 

Our solid growth is a clear reflection of our customers’ continued trust in us to support them through this agonizing period of inflation and polarization. These trends not only challenge our global economy, but also affect people deeply at an individual financial level. With our results and capital position, we demonstrate that Allianz is a company that unfailingly delivers relevant solutions that people need, especially in our turbulent age,” said Oliver Bäte, Chief Executive Officer of Allianz SE.