Allianz Group and AGCS released its financial results for the second quarter 2018 ('6M 2018').
- In the first half year 2018, AGCS gross premium written rose to €4.371 billion (6M 2017: €3.939 billion), which is an increase of €432 million year on year.
- The combined ratio for 6M 2018 improved by 1.2 percentage points and now stands at 97.7% (6M 2017: 98.8%). This ratio benefitted from a relatively benign loss environment in the first half of 2018, but also from lower expenses as result of productivity improvements across the business.
- Operating profit reached €233 million for 6M 2018 (6M 2017: €225 million). The moderate increase of €8 million in operating profit year on year is driven by better underwriting performance, which has been partly offset by lower investment income.