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Allianz Group and AGCS Q3 2016 Results

  • AGCS gross premiums written for 9M 2016 amounted to €6.007 billion (9M 2015: €6.470 billion), which is €463 million lower than prior year. This reflects the exceptional effect of the sale of Personal Lines business of Fireman’s Fund Insurance Company (FFIC) in 2015, but also the current competitive market environment with ongoing pressure on rates across various Lines of Business.

  • The combined ratio for 9M 2016 was 99.0% (9M 2015: 102.8%), which is 3.8 percentage points better year-on-year. While this benefits from higher favorable run-off from prior years’ business, it was impacted by increased claims activity including major claims in North and South America.

  • Operating profit reached €371 million in 9M 2016 which is €11 million higher year-on-year. This result is driven by a higher underwriting result in 2016, and reflects the extraordinary effects seen in 2015 from restructuring in the US and the sale of the FFIC’s Personal Lines business.

For the full AGCS picture, download the AGCS Q3 2016 results briefing here

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