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Allianz Group and AGCS Q1/3M 2017 Results

Allianz Group and AGCS released its financial results for the first quarter of 2017 ('3M 2017').

  • In a very competitive market environment, AGCS generated gross premiums written of €2.334 billion (3M 2016: €2.454 billion), which is €120 million lower than prior year. This revenue decline is largely driven by ongoing pressure on rates across various Lines of Business as well as adjusted portfolio strategies in some segments.
  • The combined ratio for 3M 2017 was 100.3% (3M 2016: 95.5%). The loss ratio deteriorated due to significant large man-made losses across various industries.
  • Operating profit reached €109 million in the first quarter of 2017 (3M 2016: €152 million) which is €43 million lower year-on-year. This result is driven by a lower underwriting result, partly counterbalanced by higher investment income.

 

For the full AGCS picture, download the AGCS Q1/3M 2017 results briefing here

For more information on Allianz SE results, please visit the Investor Relations page.