Allianz announced a significant increase in its fourth-quarter profit, driven by a strong performance in its life-health segment. Additionally, the German insurer unveiled a new share buyback program along with an increased dividend payout.
Strong Financial Results
- Net profit for the three months ending in December reached 2.15 billion euros, a substantial rise from EUR1.1 billion in the previous year.
- Operating profit saw a 17% increase to EUR3.77 billion for the quarter, supported by improved performance across all business segments.
- Total business volume grew by 7.8% to EUR39.6 billion, showcasing the company’s solid financial standing.
Share Buyback and Dividend Increase
- Allianz initiated a share buyback program of up to EUR1 billion to further enhance shareholder value.
- The insurer declared a dividend of EUR13.80 per share, marking a significant raise from EUR11.40 in the prior year.
Positive Outlook
- Allianz aims to achieve an operating profit target of EUR14.8 billion by 2024, providing a clear vision for future growth.
- The company’s property-casualty combined ratio improved to 94.9%, reflecting operational efficiency and strong performance in key segments.
These results, although slightly below certain expectations, demonstrate Allianz’s continued success and financial stability in the market.