Allianz announced its 4Q2024 and FY2024 results. In 2024 total business volume increased strongly by 11.2% to EUR 179.8 billion. Adjusted for foreign currency translation and consolidation effects, internal growth was 11.9%. The Life/Health business was the main growth driver, with strong contribution also from the Property-Casualty segment.

According to the company’s press release, in 4Q2024 total business volume grew by 16% to EUR 45.9 billion. Adjusted for foreign currency translation and consolidation effects, internal growth reached 16.2%, further accelerating from an already strong performance in the first nine months (9M2024: 11.1%). The Life/Health segment was the main growth driver, while the Property-Casualty business also contributed strongly.

The key takeaways of the report are:

FY2024

• Total business volume rises 11.2% to EUR 179.8 billion
• Operating profit increases by 8.7%to EUR 16.0 billion supported by all business segments 
• Shareholders’ core net income advances 10.1% to EUR 10.0 billion
• Strong Solvency II capitalization ratio of 209% 

4Q2024

• Total business volume advances 16.0% to EUR 45.9 billion
• Operating profit increases 10.9% and reaches EUR 4.2 billion, mainly attributable to very good results in the Property-Casualty segment  
• Shareholders’ core net income rises 3.5% to EUR 2.4 billion

For 2025, Allianz targets an operating profit of EUR 16.0 billion, plus or minus EUR 1 billion.

“In 2024, Allianz delivered another set of record financial results, which are underpinned by strong performance across all segments, consistently high customer satisfaction, and record employee engagement. Allianz remains the trusted partner of choice for our customers in a global context in which above-average levels of natural catastrophes, armed conflicts, and deepening polarization continue to create considerable volatility”, commented Oliver Bäte, Chief Executive Officer of Allianz SE. “These conditions elevate the need for what Allianz offers its customers and the world: a more secure future that translates into greater prosperity. Our renewed strategy, recently announced at our Capital Markets Day, underscores our conviction in growth and our confidence in our resilience and our capabilities. As we realize the value of our deepening customer relationships, we lift our ambitions to deliver even higher capital-efficient growth in the quarters and years ahead”, Chief Executive Officer of Allianz SE added.

The full report can be found here.