Allianz Group and AGCS released its financial results for the third quarter 2018 ('9M 2018').
- AGCS gross premium written for 9M 2018 amounted to €6.385 billion (9M 2017: €5.731 billion), which is an increase of €655 million year on year.
- The combined ratio for 9M 2018 stands at 99.8% (9M 2017: 103.5%) which is 3.7 percentage points better than prior year. Although claims levels in the first three quarters of 2018 have been relatively high, this development reflects the exceptional loss environment of 2017, when many AGCS clients suffered severe losses in the hurricane season.
- Operating profit reached €274 million for 9M 2018 (9M 2017: €172 million), increasing by €102 million compared to prior year. The positive underwriting performance compared to 2017 has been partly offset by a lower investment income.