Allianz

Showing posts with label Allianz. Show all posts
Showing posts with label Allianz. Show all posts

Saturday, 3 August 2019

Allianz reports strong profitability in 2Q 2019. Operating profit outlook for full-year confirmed.



 Internal revenue growth of 4.1 percent in 2Q 2019
 2Q 2019 operating profit up 5.4 percent to 3.2 billion euros
 2Q 2019 net income attributable to shareholders up 13.1 percent to 2.1 billion
euros
 6M 2019 operating profit at 6.1 billion euros reaches 53 percent of full-year outlook
midpoint
 6M 2019 net income attributable to shareholders rises 7.3 percent to 4.1 billion
euros
 Solvency II capitalization ratio at 213 percent at the end of 2Q 2019 compared to
218 percent at the end of 1Q 2019
 Operating profit outlook for 2019 confirmed at 11.5 billion euros, plus or minus
500 million euros

Management Summary: Strong total revenues and profitability
After a successful start into 2019, Allianz Group continued with a very strong operating performance in thesecond quarter of the year. At the heart of this result is Allianz’ focused strategy, strong execution, and its diversified business portfolio. Internal revenue growth, which adjusts for currency and consolidation effects, was 4.1 percent in the second quarter of 2019. Total revenues increased 6.1 percent to 33.2 (second quarter of 2018: 31.3) billion euros. Operating profit grew 5.4 percent to 3.2 (3.0) billion euros in the second quarter of 2019, largely driven by our Life/Health business segment with a good underlying performance and a one-off profit in the United States. Our Asset Management business segment’s operating profit increased mainly as a result of higher assets under management driven revenues. A lower investment result led to a decrease in our Property-Casualty business segment’s operating profit.

Net income attributable to shareholders increased 13.1 percent to 2.1 (1.9) billion euros in the second
quarter of 2019 due to operating profit growth and an improved non-operating result. The latter improvedas the second quarter of 2018 was burdened by a negative impact from the sale of our traditional life insurance portfolio in Taiwan.

Basic Earnings per Share (EPS) increased 10.2 percent to 9.76 (8.86) euros in the first half-year of 2019. Annualized Return on Equity (RoE) amounted to 14.7 percent (full year 2018: 13.2 percent). The Solvency II capitalization ratio decreased from 218 percent at the end of the first quarter 2019 to 213 percent at the end of the second quarter 2019. The decrease was predominantly driven by market movements and capital management actions, which were partially offset by positive operating Solvency II earnings.

In the first half-year of 2019, operating profit grew by 6.4 percent to 6.1 (5.8) billion euros, which is above the mid-point of our full-year target range. Our Life/Health business segment’s operating profit increased, supported by a one-off profit in the United States. Property-Casualty business segment recorded an improved underwriting result while our Asset Management business segment operating profit was stable.
Our operating profit growth was the main driver for the 7.3 percent increase of net income attributable toshareholders to 4.1 billion euros.
On February 14, 2019, Allianz announced a new share buy-back program of up to 1.5 billion euros.
6.2 million shares have been acquired by June 30, 2019, representing 1.5 percent of outstanding capital. “I am proud that the Allianz team has once again delivered a healthy performance,” said Oliver Bäte, Chief Executive Officer of Allianz SE. “Sustainable performance is the result of our rigorous strategy execution that provides desired solutions for our customers. Our half-year results testify that Allianz is on track to achieve its full-year targets.”

Thursday, 20 September 2018

Allianz to become Worldwide Olympic Insurance Partner




The International Olympic Committee (IOC) and Allianz announced that the insurer will join the “Worldwide Olympic Partner” (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and integrated insurance solutions to support the Olympic Movement, including the Organising Committees of the Olympic Games, with the ambition of providing those insurance solutions to the National Olympic Committees around the world and their Olympic teams and athletes.
The support will include existing products, such as fleet and property & casualty insurance, but also insurance solutions for future products and services, driven by technological changes. The partnership will run from 2021 through to 2028.
The ambition of both partners is to use the power of sport to connect with new audiences via digital channels, including the Olympic Channel. Engaging with the next generation in their preferred way gives Allianz the opportunity to cover their insurance needs.
Having supported the International Paralympic Committee since 2006, most recently as an international partner, Allianz will also become a “Worldwide Paralympic Partner” from 2021 as part of this agreement.
IOC President Thomas Bach said: “This new partnership demonstrates the global appeal and strength of the Olympic Movement, and we are delighted to be working together in the long term with Allianz to support sport around the world. Allianz has built a global business founded on trust. With this partnership, together we are building a foundation based on mutual trust. Allianz also has a strong sporting heritage and, in line with the Olympic Agenda 2020, we share a digital ambition of connecting with young people around the world to promote the Olympic values and the power of sport.”
Allianz CEO Oliver Bäte said: “I am thrilled that we are joining a global community of athletes and people enthusiastic about sport and team work – in addition to our existing strong partnership with the International Paralympic Committee (IPC). Through the IOC’s digital and social channels, we can connect with more people than ever before and offer them our expertise in insurance. We believe the world is a better place when people have the courage to leave differences behind and stand together to achieve better outcomes for themselves and for the societies they live in.”
Tsunekazu Takeda, the IOC’s Marketing Commission Chair, said: “We are delighted to announce this new partnership with one of the world’s leading companies in its field, and we look forward to beginning a new, exciting journey together.”
Jean-Marc Pailhol, Head of Group Market Management and Distribution at Allianz SE, added: “As a world-leading insurer, Allianz is directly embedded in all the great events which make and transform our global society. That is why becoming the Worldwide TOP Partner in the insurance category of the IOC and the IPC is important for us. We will work together to take both teams to the next level – digitally, commercially and globally. We’re excited about the opportunity to move Allianz into new markets, as well as strengthening our position in existing territories. Together with the IOC and the IPC, this is a perfect way to share our passion for sport and the social, physical and mental benefits it brings to humanity.”
The sponsorship period will cover the Olympic Winter Games Beijing 2022, the Olympic Games Paris 2024, the Olympic Winter Games 2026 and the Olympic Games LA 2028. In China, France and Spain, Allianz will already have marketing rights from 2019 onwards.
In March 2018, the IOC and IPC established a long-term partnership between the two organisations through to 2032. As part of this agreement, from 2021 onwards all Worldwide TOP Partners will also be Partners of the IPC and the Paralympic Games.

allianz.com