Allianz SE achieves record operating profits and net income for shareholders for the year 2023

Allianz SE has announced strong financial results for the fiscal year 2023, marked by significant growth in its total business volume and profits. The total business volume increased by 5.5% to reach 161.7 billion euros, and the operating profit grew by 6.7%, amounting to 14.7 billion euros, mainly driven by the Life/Health segment. Net income for shareholders saw an impressive growth of 30.3% to reach 9.1 billion euros.

Allianz forecasts an operating profit of 14.8 billion euros for 2024, plus or minus 1 billion euros. The company also announced an increase in its dividend per share to 13.80 euros, a 21.1% increase from 2022, and launched a new share buyback program of up to 1 billion euros.

All of the company's business segments showed strong performance, especially Property and Casualty insurance with sustained growth, as well as in asset management despite a volatile market environment. The Solvency II ratio stood at 206% at the end of 2023, reflecting Allianz's financial strength.