Allianz Group and AGCS
Q3/9M 2017 Results

AGCS SE | November 9, 2017 | Munich

Allianz Group and AGCS releases its financial results for third quarter 2017.

  • AGCS gross premiums written for 9M 2017 totaled €5.731 billion (9M 2016: €6.007 billion). In a highly competitive market environment, premiums are €276 million lower year on 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 9M 2017 deteriorated to 103.5% which is 4.5 percentage points worse compared to 99.0% for 9M 2016. This is mainly caused by significant losses from natural catastrophes in the third quarter.
  • Operating profit decreased to €172 million in 9M 2017 (9M 2016: €371 million) which is €198 million lower than prior year. The operating profit for the first nine months suffered from a negative underwriting result and declining 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.