Allianz Group and AGCS
Q1 / 3M 2017 Results

AGCS SE | May 12, 2017 | Munich

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.

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.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:
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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.