강남일보

August 8, 2024

2Q 2024:

· Total business volume advances 7.6 percent to 42.6 billion euros
· Operating profit reaches 3.9 billion euros driven by good results in all segments
· Shareholders’ core net income stable at 2.5 billion euros

6M 2024:

· Total business volume rises by 6.4 percent to 91.0 billion euros
· Operating profit increases by 5.3 percent to 7.9 billion euros driven by all segments
· Shareholders’ core net income advances 7.7 percent to 5.0 billion euros
· Strong Solvency II capitalization ratio of 206 percent[1]

Outlook:

· 2024 operating profit target affirmed at 14.8 billion euros, plus or minus 1 billion euros[2]

Other:

· Share buy-back of 1 billion euros executed by the end of July 2024
· Decision to expand the total volume of the share buy-backs in the financial year 2024 to a total of 1.5 billion euros
· Allianz has therefore resolved to repurchase additional shares in a volume of up to 500 million euros

[1] Based on quarterly dividend accrual; additional accrual to reflect FY dividend would impact solvency II capitalization ratio by -6%-p as of June 30, 2024.
[2] As always, natural catastrophes and adverse developments in the capital markets, as well as factors stated in our cautionary note regarding forward-looking statements may severely affect the operating profit and/or net income of our operations and the results of the Allianz Group.

"Allianz delivered strong results in the first six months of the year and we are confident in our ability to achieve our full-year ambitions.

Our performance demonstrates the core strengths and resilience of our company, particularly as our results were achieved amid significant natural catastrophe activity in the second quarter - and notably in our home market. The way that Allianz responded to our customers affected by the floods in Germany reflected the best possible blend of compassion, speed, and expertise. Teams enabled by digital claims processing tools visited nearly all affected properties within two weeks of the event, which reassured our customers and limited damages.

These excellent property and casualty outcomes were complemented by strong delivery in our life/health, and asset management segments, demonstrating how we translate our customer-centric strategy into resilient earnings growth."

- Oliver B