Allianz Group and AGCS
Q2 / 6M 2019 Results

AGCS SE | 02. August 2019 | Munich

Allianz Group and AGCS released its financial results for the second quarter of 2019 ('6M 2019').

  • In the first half of 2019, AGCS has increased gross premium written to €4.865 billion (6M 2018: €4.371 billion), which is €494 million higher year on year. All AGCS Lines of Business and regions (especially North America and London) have contributed to solid growth. Across its global portfolio of new business and renewals, AGCS achieved rate increases of 6.3% on average in the first half of 2019, with some segments seeing significantly higher rate increases.
  • The combined ratio for 6M 2019 stands at 100.4% compared to 97.7% for 6M 2018, which is 2.7 percentage points worse than prior year, mainly attributed to deterioration of the loss ratio as a result of a higher number of large losses compared to the first half of 2018.
  • Operating profit reached €185 million for 6M 2019 (6M 2018: €233 million) which is €48 million below prior year driven by a lower underwriting result partly offset by a higher investment income.

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide 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 not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. 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.

Worldwide, AGCS operates with its own teams in 34 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2018, AGCS generated a total of €8.2 billion gross premium globally.

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.