Allianz Group and AGCS released its financial results for the full year 2018 ('12M 2018').
- In 2018 AGCS generated gross premium written of €8.186 billion (12M 2017: €7.406 billion), which is a significant increase of €780 million year on year. The premium growth is mainly driven by AGCS’s fronting business as well as growth in several Corporate Lines of Business, in particular MidCorporate and Liability.
- The combined ratio stands at 101.5% (2017: 105.2%) reflecting a significant number of smaller ‘Cat’ claims, a higher volume and average size of large industry losses and also an increased number of mid-sized losses.
- Operating Profit reached €282 million for 12M 2018 compared to €156 million in 2017, increasing by €126 million compared to prior year.