Allianz Group and AGCS Q1 / 3M 2016 Results

AGCS SE | May 12, 2016 | Munich  

Allianz Group and AGCS releases its financial results for the first quarter of 2016.

  • AGCS continued with solid top line growth in the first quarter of 2016, generating a premium income of €2.454 billion, exceeding last year’s result by €72 million.
  • The combined ratio for Q1 2016 is 95.5% (2015: 99.6%) supported by favorable claims activity despite hailstorm NatCat losses in the US in March, and further assisted by positive run-off from prior years’ business.
  • Operating profit for Q1 2016 totaled €152 million (2015: €45 million) reflecting the solid underwriting results.

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.

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Allianz operates as an international insurer on almost every continent. Find Allianz in your own country/region.
With the Allianz network AGCS provides services in over 200 countries and territories.