Allianz Group and AGCS
Q4 / 12M 2016 Results

AGCS SE | February 16, 2017 | Munich

Allianz Group and AGCS released its financial results for the full year 2016 ('12M 2016').

  • AGCS delivered a solid business performance in 2016, generating gross premiums written of €7.592 billion (12M 2015: €8.107 billion), which is €515 million lower than prior year.
  • The combined ratio for 12M 2016 was 101.6% (12M 2015: 102.9%), which is 1.4 percentage points better year-on-year. While overall claims activity in 2016 was more favorable than in 2015, the combined ratio still reflects major claims such as hail storms in North America and the Canadian wildfires as well as a number of large industry losses in Europe and South America.
  • Operating profit reached €376 million 2016 (12M 2015: €423 million) which is 11% lower year-on-year. In 2015, operating profit had benefitted from the gain on sale of the FFIC Personal Lines book. This extraordinary effect could not be offset by an improved underwriting result in 2016.

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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With the Allianz network AGCS provides services in over 200 countries and territories.