ALLIANZ REPORTED HIGHEST NET INCOME IN THE LAST DECADE

German insurer ALLIANZ announced its FY2018 total revenues grew by 3.5% y-o-y, to EUR 130.6 billion, while the operating profit was up by 3.7% to EUR 11.5 billion “in the upper end of the Group’s announced target range of EUR 10.6 billion to EUR 11.6 billion and the highest in our history”.

The company mentioned the operating profit growth was mostly attributable to Property-Casualty business segment, which reported a strong rise in operating profit of 13.3% y-o-y. “This was due to an improved expense ratio, lower claims from natural catastrophes, and premium growth”.

Commenting on the firm’s performance in 2018, ALLIANZ SE Chief Executive Officer (CEO), Oliver BATE, said: “I am very proud of the global ALLIANZ family for delivering such a great set of results. We reached the highest net income of the past ten years despite strong market volatility, especially in the fourth quarter”…

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