Allianz Group and AGCS
Q4 / 12M 2017 Results

AGCS SE | February 16, 2018 | Munich

Allianz Group and AGCS released its financial results for the full year 2017 ('12M 2017').

  • In 2017 AGCS generated gross premium written of €7.406 billion (12M 2016: €7.592 billion), which is €186 million lower year on year. This revenue decline is largely driven by the discontinuation of the Crop business in the United States, but also reflects adjusted portfolio strategies in selected Specialty segments which could not be completely compensated by growth in the Corporate segment and fronting business.
  • The combined ratio for 12M 2017 rose by 3.7 percentage points to 105.2% compared to 101.6% for 12M 2016. The loss ratio suffered from high claims activity caused by the 2017 hurricanes and wildfires in the US as well as other natural catastrophes and man-made losses.
  • Operating profit decreased to €156 million in 12M 2017 (12M 2016: €382 million) which is €226 million lower than prior year. The decline of operating profit is driven by lower income from Underwriting and Investments.

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.