Allianz: H1 net income up 14%

(CercleFinance.com) - Allianz has reported a 14.
2% increase in H1 2024 net income (group share) to E5bn, with a 5.3% increase in operating profit to E7.9bn, with total business volume up 6.4% to E91bn.

The German insurance company explains that all its segments contributed to the growth in operating profit, including property-casualty insurance, where a strong underlying performance more than offset the high impact of natural catastrophes.

Also announcing a Solvency II capitalisation ratio of 206% and an annualised core RoE of 17.5% at end-June, Allianz confirms its FY 2024 operating profit target range of E13.8-E15.8bn.

In addition, having bought back E1bn worth of shares at end-July as part of the program announced in February, management has decided to increase the share buyback envelope for 2024 by E500m, to E1.5bn.


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