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Allianz total revenues grew 3.5 percent to 130.6 billion euros

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Staff Writer | Sunday March 17, 2019 5:32AM ET
Allianz
Allianz   Based on preliminary figures internal revenue growth amounted to 6.1 percent

Allianz Group had a successful year in 2018 meeting its performance targets in all segments and maintaining a high level of capital strength.


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The achievement of Allianz's Renewal Agenda objectives has laid the foundation for this very good performance.

Based on preliminary figures internal revenue growth, which adjusts for currency and consolidation effects, amounted to 6.1 percent, and was supported by all operating business segments.

Total revenues grew 3.5 percent to 130.6 (2017: 126.1) billion euros.

With the increase of 3.7 percent, the operating profit of 11.5 (11.1) billion euros is in the upper end of the Group’s announced target range of 10.6 to 11.6 billion euros and the highest in Allianz history.

Operating profit growth was mostly attributable to Allianz's Property-Casualty business segment, which reported a strong rise in operating profit of 13.3 percent.

This was due to an improved expense ratio, lower claims from natural catastrophes, and premium growth.

Allianz's Asset Management business segment also saw an increase in operating profit due to a rise in assets under management (AuM) driven revenues.

As a result of a lower investment margin amidst higher financial market volatility, Allianz's Life/Health business segment operating profit decreased.

Net income attributable to shareholders grew 9.7 percent to 7.5 (6.8) billion euros.

An increased operating profit and lower income taxes more than offset the decline in Allianz's non-operating result.

Basic Earnings per Share (EPS) increased 14.4 percent to 17.43 (15.24) euros for the year 2018.

Return on Equity (RoE) amounted to 13.2 percent (11.8 percent).

The Solvency II capitalization ratio amounted to 229 percent at end-2018, unchanged compared to end-2017.

The Board of Management will propose a dividend of 9 euros per share for 2018, up 12.5 percent compared to 2017.

Allianz continued to improve customer experience in 2018.

74 percent of businesses worldwide achieved a Net Promoter Score (NPS) above market average compared to 60 percent in the previous year.

The Inclusive Meritocracy Index (IMIX), which measures leadership and performance culture, was at 71 percent in 2018 close to Allianz's target level of 72 percent.

These measures reflect Allianz's efforts to serve customers and engage employees in the best possible way.

 

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