The group highlighted that each one three enterprise segments confirmed wholesome development in the course of the quarter with its property-casualty insurance coverage division recording a robust working revenue. Whole revenues for the P&C division elevated 3.4% to €13.9 billion in Q2 2021, whereas its working revenue rose 18.8% in comparison with the prior 12 months, to €1.4 billion. This was regardless of greater claims from pure catastrophes, which had been largely offset by a greater run-off end result. The underwriting end result elevated considerably, additionally as a result of absence of COVID-19 associated losses in comparison with the prior-year interval.
In the meantime, excessive demand for its life/medical health insurance merchandise resulted in dynamic income development, for the division which noticed its working revenue improve to €1.3 billion in Q2 2021, up from €1 billion in Q2 2020. This was largely accredited to the group’s enterprise in america which led to an improved funding margin.
Its asset administration enterprise additionally continued to develop and reached a brand new historic excessive in belongings underneath administration. The working revenue of the division elevated by 29%, to €825 million in Q2 2021, in comparison with the prior-year interval.
Commenting on the outcomes, CEO of Allianz SE Oliver Bäte acknowledged that Allianz had an excellent half-year, reaching double-digit working revenue development and that its merchandise and options had seen wholesome demand. He additionally highlighted that in the course of the previous few weeks, which have been marked by heavy pure catastrophes in Europe, he had been proud to witness the “solidarity and excellent engagement” of so many Allianz representatives.
Giulio Terzariol, CFO of Allianz SE added: “The second quarter as soon as once more underscores Allianz’s sturdy underlying efficiency, which was mirrored in all key monetary figures. I’m happy that each one our companies are delivering excellent outcomes and that we’re rising profitably. On this foundation, we’re assured concerning the second half of 2021 and anticipate now an working revenue within the higher half of our goal vary.”