"Our excellent results this quarter again prove the resilience and strength of Allianz amid a dramatic geopolitical and market environment. Buoyed by outperformance in our Property-Casualty business, our operating profit and net income demonstrate to our stakeholders the benefits of our global scale and diversification, as well as our customer-centric strategy. Further, our capital management capabilities and balance sheet create valuable optionality for Allianz, allowing us to confidently confront a changing economic landscape", says Oliver Bate, Chief Executive Officer, Allianz SE.
"Our strong set of results highlight the underlying operational strength of Allianz's business model, which has the ability to deliver sustainable value even in a rapidly-evolving economic and geopolitical environment.
- Our Property-Casualty business had a record third-quarter operating profit, marked by an increase in premium and in underwriting and investment results. Also, thanks to our focus on productivity, we have reduced the expense ratio once again.
- In Life/Health segment, the expansion in new business margin shows our future profitability remains strong. Although customers are cautious in these economic conditions, their interest in Allianz's preferred lines of business is robust.
- In Asset Management we have again achieved a solid operating result in a very challenging environment.
Read the full release on Allianz Se's Q3 results on the Group's website.