Allianz reveals newest earnings outcomes

Insurance large Allianz has revealed its newest set of earnings outcomes – and, whereas some key numbers are decrease in comparison with 2021, group boss Oliver Bäte sees the worthwhile second quarter as an indication of “strong” monetary efficiency.

Here’s how the worldwide insurer fared within the three- and six-month intervals ended June 30:

Lifting the lid on the numbers, Allianz famous: “Operating revenue elevated 5.3% to €3.5 billion, pushed by improved underwriting and funding ends in the property-casualty phase. Growth was partially offset by the life/well being enterprise phase, reflecting the affect of unstable market situations and a decrease funding margin in Germany and the United States.

“Lower working revenue from the asset administration enterprise phase following adversarial market actions and cautionary investor sentiment additionally had an offsetting impact.”

Meanwhile, based on Allianz, a decrease non-operating funding end result greater than offset the lower in revenue taxes and improve in working revenue, ensuing within the decline within the group’s internet revenue attributable to shareholders.

Bäte said: “Allianz delivered one other quarter of sturdy monetary efficiency, pushed by sturdy progress in our property-casualty enterprise. Our working revenue and group solvency ratio proved resilient towards heightened volatility and a essentially weaker financial surroundings.

“We are well-positioned to handle the affect of excessive inflation and the financial pressures which are notably evident in Europe. Allianz will proceed to deploy our benefits of stability and scale for the good thing about our prospects and shareholders.”