Allianz Operating Profit Hits Record High on Asset Management Growth
By Aimee Look
Allianz's business volumes grew in the second quarter and operating profit hit a record high.
Europe's largest insurer by market capitalization booked a 10.6% rise in group operating profit to 4.87 billion euros, equivalent to $5.61 billion. It exceeded median analyst expectations, and rose to a record level, Allianz said.
Operating profit growth was driven by double-digit increases in asset management and life/health, it said.
The German group said total business volume, or revenue, grew 5.7% on an internal basis, to 45.6 billion euros. The metric was bolstered by internal growth in its asset management business.
The insurer had 2.60 billion euros in net profit attributable to shareholders, compared with 2.84 billion euros in the same period a year ago.
When adjusted for a divestment gain last year and offsetting a stake sale in Indian joint ventures, shareholders' core net income--also 2.6 billion euros for the quarter--had 10% underlying growth.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
August 07, 2026 01:43 ET (05:43 GMT)
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