Allianz Group has announced a 16.7% year-on-year (YoY) increase in its net income for fiscal year 2024, reaching $11.04 billion (€10.54 billion). This surge in profitability was accompanied by a rise in core earnings per share, which climbed to $26.69 (€25.42) from the previous year’s $23.74 (€22.61).
The company’s Life and Health segment saw the most significant YoY growth, up 14.7% to $93.56 million (€89.3 million). Property and Casualty, along with Asset Management, also saw positive results, increasing by 8.3% YoY to $86.86 million (€82.9 million) and 3.0% YoY to $8.70 million (€8.3 million), respectively.
Allianz’s total business volume grew by 11.2% YoY to $188.79 billion (€179.8 billion). Adjusted for foreign exchange and consolidation effects, internal growth reached 11.9%, driven largely by the strong performance of the Life and Health segment, which was further supported by Property-Casualty.
The company’s operating profit also experienced an increase of 8.7%, rising to $16.8 billion (€16.0 billion) from $15.435 billion (€14.7 billion) in 2023. All business segments contributed to this positive result, with Property-Casualty playing a particularly significant role.
The growth highlights Allianz’s solid performance across its diverse portfolio, as it continues to navigate challenges in the global financial landscape.
($1.00 = €0.95)
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