Allianz Group and AGCS released its financial results for the full year 2015 ('12M 2015').
AGCS continued its growth in 2015, generating a premium income of €8.1 billion, exceeding the previous year by €2.7 billion.
2015’s combined ratio of 102.9% (2014: 94.8%) was impacted by the negative run-off effects from prior year underwriting, mainly related to reserve strengthening to parts of the legacy FFIC portfolio, despite solid performance from the active business which once again demonstrated the value of a globally diversified portfolio.
Operating profit for 2015 totaled €423 million (2014: €506 million) supported by increased investment income from the combined asset base of AGCS and FFIC, and reflecting one-off effects such as the sale of FFIC’s Personal Insurance business and restructuring costs.
For the full AGCS picture, download the AGCS Q4/12M 2015 results briefing here
For more information on Allianz SE results, please visit the Investor Relations page.