Allianz Q1 Profit Rises; Affirms Full-year Outlook

(RTTNews) - Allianz Group reported first quarter net income to shareholders of 2.47 billion euros, an increase of 21.8% from a year ago. Operating profit rose 6.8% to 4.0 billion euros driven by the Property-Casualty business segment, supported by good results in the Asset Management and the Life/Health business segments. Shareholders' core net income was 2.5 billion euros, up by 15.7%. Core earnings per share was 6.42 euros compared to 5.43 euros.

First quarter total business volume rose by 5.3% to 48.4 billion euros, driven by all business segments.

The Group maintained its 2024 operating profit target at 14.8 billion euros, plus or minus 1 billion euros.

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