Internal growth, which excludes the effects of foreign-currency translation as well as acquisitions and divestments, was 5.2%, supported by strong growth in Property-Casualty and Asset Management.
Operating profit rose 12.6% to EUR 4.4 (3.9) billion, reaching 28% of the company’s full-year outlook midpoint. Double-digit operating profit growth in Property-Casualty was the main driver but all segments contributed. Shareholders’ core net income advanced 12.7% to EUR 2.9 (2.5) billion, fueled by higher operating profit.
Allianz’s 9M2025 results were excellent, delivering a record operating profit and strong growth across all business segments. The Group’s total business volume expanded to EUR 141.2 billion (9M2024: EUR 133.9 billion). Internal growth of 8.5% was supported by strong growth across all segments.
Operating profit was excellent at EUR 13.1 (11.8) billion, an increase of 10.4%. The Property-Casualty business was the main growth driver, but all business segments contributed.
Shareholders’ core net income rose by 10.5% to a strong level of EUR 8.4 (7.6) billion. Adjusted for a one-off tax provision related to the forthcoming sale of the company’s stake in its Indian Joint Ventures in 1Q and the divestment gain on the UniCredit Joint Venture in 2Q, shareholders’ core net income was up by 8.3%.
Allianz delivered an excellent annualized core return on equity (RoE) of 18.5% in 9M 2025 (full-year 2024: 16.9%). Adjusted for the effects of the one-off tax provision and divestment gain, the annualized core return on equity (RoE) was 18.2%.
This performance was achieved while Allianz maintained a strong capitalization with a Solvency II ratio of 209% (2Q2025: 209%), supported by excellent operating capital generation of 19 percentage points.
Following the strong performance, the Board of Management now expects, for the full year 2025, to achieve an operating profit of at least EUR 17 billion, the upper end of the operating profit target range (EUR 16 billion +/- 1 billion) set at the beginning of the year. Most likely, barring unforeseen significant natural catastrophes or capital market events the 2025 operating profit will be in the range between EUR 17 and 17.5 billion.
“Allianz has once again delivered another set of record results, an outcome that is made possible by our exceptional levels of brand trust, customer loyalty, and employee motivation”, said Oliver Bäte, Chief Executive Officer of Allianz SE. “Alongside our Smart Growth and Resilience levers, we will continue our disciplined focus on productivity to generate even greater value for money for our customers”, Oliver Bäte emphasized. “Affordable insurance solutions remain essential to inclusive economic prosperity, and Allianz remains dedicated to securing a future in which more people can access the protection and peace of mind that our products and services provide”, the CEO added.
The full report can be found here.
2704 views
