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Munich, May 17, 2025 — Allianz SE, Europe’s largest insurer, posted a record high operating profit in the first quarter of 2025, underscoring its resilience amid global economic uncertainty. However, the company missed analyst expectations on core net income.
The company reported an operating profit of €4.24 billion, up 6.3% year-over-year and in line with market forecasts. Core net income attributable to shareholders rose 1.5% to €2.55 billion, falling 6% short of estimates.
“Allianz’s first quarter performance and our confirmed outlook underscore our financial strength and resilient business model, which benefits from the attractiveness of our customer value propositions amid geopolitical and economic uncertainty,” said CEO Oliver Bäte.
“We view this uncertainty and change as a catalyst for innovation and growth, allowing us to pursue new opportunities and expand our offerings. As the world’s leading insurance brand, we are well-positioned to benefit from the global flight to trust, with the ability to meet growing customer demand for protection and retirement solutions.”
Segment Highlights
- Core earnings per share rose 2.9% to €6.61.
- Total business volume jumped 11.7% to €54 billion, with all segments contributing to the growth.
- Life/Health saw the strongest growth, with business volume increasing 18.6% and operating profit up 7.5%.
- Property-Casualty, Allianz’s largest division, reported a 5% rise in operating profit to €2.17 billion, though this was 1% below analyst expectations. Business volume in the segment increased by 6% to €27 billion.
- Asset Management posted a 4.8% gain in operating profit.
- Corporate and Other was the only segment to decline, with operating profit falling 7.6% year-over-year.
Outlook
Allianz reaffirmed its full-year guidance, projecting an operating profit of €16 billion, with a margin of plus or minus €1 billion.
At the time of writing, Allianz shares (FWB: ALV) were trading at €348.20, down from the previous close of €351.90. The company’s market capitalization stands at approximately €135.6 billion.
KKH-Allianz Hauptverwaltung Office on Wikimedia by amerin
