Allianz achieves record operating profit in 2023

The Allianz Group published today its financial results for the year 2023. Total business volume reached 161.7 billion euros, up 5.5 percent, while the operating profit increased 6.7 percent to 14.7 billion euros primarily driven by the Life/Health business segment.

For 2024, Allianz targets an operating profit of 14.8 billion euros, plus or minus 1 billion euros, according to a company statement.

“Allianz extended our track record of delivering a record operating profit and core net income, consolidating our leading position as one of the world’s most resilient global insurers and active asset managers. 

Our results demonstrate the trust that our customers place in Allianz, and in the resilience and potential of our business model and our people. Our Property-Casualty business saw strong growth while we supported our customers affected by elevated levels of natural catastrophes. Our Life/Health segment delivered profitable growth as we developed attractive solutions to protect our customers from the effects of inflation on their savings, and in our Asset Management business we achieved robust net inflows in a volatile capital market environment.

The discipline of our strategy, execution, and capital management bolsters our operating profit outlook for 2024, our new dividend policy, and our renewed share buy-back program. In the coming year, we will continue to focus on unlocking the benefits of our scale to further increase our productivity, and on converting our excellent customer experience into profitable customer growth,” said Oliver Bäte, Chief Executive Officer of Allianz SE.