Allianz Group and AGCS
Q1 / 3M 2019 Results

AGCS SE | May 14, 2019 | Munich

Allianz Group and AGCS released its financial results for the first quarter of 2019 ('3M 2019').

  • In the first quarter 2019, AGCS has achieved solid growth and increased gross premium written to €2.869 billion (3M 2018: €2.467 billion), which is €402 million higher year on year. All AGCS Lines of Business (in particular Corporate segments) as well as regional units (especially North America) have contributed to this rise in premiums. 
  • The combined ratio for 3M 2019 stands at 99.7% compared to 94.6% for 3M 2018. This deterioration by 5.1 percentage points on a quarterly basis is driven by a higher loss ratio including high-profile large losses in the first quarter. 
  • Operating profit reached €106 million for 3M 2019 (3M 2018: €139 million) which is €33 million below prior year driven by a lower underwriting result.

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:
Sign up to e-update
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.