Amid sustained, broad-based momentum across its businesses, Allianz has reported an operating profit of €13.1 billion for the first nine months of 2025, its highest nine-month result on record and equivalent to 82% of the midpoint of its full-year outlook.
For Q3 2025 alone, Allianz saw robust momentum, with operating profit climbing 12.6% to €4.4 billion, driven in particular by a strong Property-Casualty performance, while shareholders’ core net income rose 12.7% to €2.9 billion.
Concurrently, Allianz’s total business volume increased 5.21% in Q3 2025, again with contributions from all segments.
Looking more closely at Allianz’s segment performance for the 9M 2025 period, total business volume for Property-Casualty insurance rose to €66.9 billion.
Operating profit in Property-Casualty for the period rose to €6.9 billion from €6 billion in 9M 2024, while the combined ratio improved to 91.6% on the back of better loss and expense ratios.
Turning to Life/Health insurance, in 9M 2025, PVNBP increased by 4.8% to €63.5 billion. At the same time, the Life/Health new business margin remained strong at 5.7% while the value of new business rose to €3.6 billion.
Operating profit in Life/Health for 9M 2025 was €4.2 billion, up 3.8% from 9M 2025.
In 9M 2025, operating revenues in the Asset Management segment rose to €6.2 billion, supported by a 7.5% increase in AuM-driven revenues (adjusted for currency effects) on the back of higher average third-party assets under management. This segment’s operating profit grew 5.2% to €2.4 billion.
Oliver Bäte, Chief Executive Officer of Allianz SE, commented, “Allianz has once again delivered another set of record results, an outcome that is made possible by our exceptional levels of brand trust, customer loyalty, and employee motivation.
“Alongside our Smart Growth and Resilience levers, we will continue our disciplined focus on productivity to generate even greater value for money for our customers.
“Affordable insurance solutions remain essential to inclusive economic prosperity, and Allianz remains dedicated to securing a future in which more people can access the protection and peace of mind that our products and services provide.”
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