Allianz raises estimates for the top of the yr pushed by P&C | EUROtoday

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The driving pressure of the injury pushes Allianz’s accounts, which raises its estimates for the top of the yr. The German insurance coverage large the truth is closed the third quarter with double-digit development numbers.

The outcomes

In specific, the corporate recorded a internet revenue of two.6 billion (+22.6%) and an working revenue of three.94 billion euros within the third quarter, a rise of 13.6%, thanks above all to the outcomes very constructive within the Non-Life class”. In this regard, the group benefited from lower losses due to natural catastrophes compared to the previous year’s quarter, although the impact still remained at high levels. The Life and Health sector instead recorded an increase in operating profit of 5.2%, with growth “extensively distributed throughout the assorted actions”, underlined Allianz.

The analysts’ consensus gives a measure of how much the numbers went beyond expectations: in fact, an operating result of 3.8 billion was estimated.

As for the total turnover, it increased by 17.3% to 42.8 billion euros. Over the nine months, profit rose by 16.6% to 7.9 billion and the operating result jumped by 7.9% to 11.8 billion while the turnover came close to 134 billion (+9.6 %). The Solvency II ratio stood at 209%. For the full year 2024, the German group aims to achieve an operating profit in the upper half of the range of 4.8 billion, plus or minus 1 billion euros.

The strategy

The CEO of Allianz, Oliver Baete, will almost definitely outline the brand new targets for the corporate through the Investor Day to be held in December, with a specific eye on the rise in coupons. Asset administration can also be an space the place Allianz might think about strategic adjustments. Rival Axa introduced the sale of its wealth administration unit to BNP Paribas earlier this yr.