Allianz Delivers Record Result and Is Well on Track to Achieve Its Targets

MUNICH--(BUSINESS WIRE)--2Q 2026

• Total business volume at 45.6 billion euros, an internal growth of 5.7 percent1, with contributions from all segments. Asset Management delivers excellent growth.
• Operating profit rises 10.6 percent to a record level of 4.9 billion euros.
• Shareholders’ core net income at 2.6 billion euros; 12.7 percent below last year. Adjusted for a divestment gain last year and offsetting measures following the sale of the stake in our Indian JVs, underlying growth is strong at 10 percent.

6M 2026

• Total business volume at 98.6 billion euros, an internal growth of 4.3 percent1, driven by Property-Casualty and especially Asset Management.
• Operating profit rises 8.6 percent and reaches a record level of 9.4 billion euros.
• Shareholders’ core net income advances 15.5 percent to 6.4 billion euros. Adjusted for divestment effects and offsetting measures, underlying growth is strong at 9 percent2.
• Core earnings per share increase 17.5 percent and reach 16.44 euros. Adjusted for the above-mentioned effects, underlying growth is excellent at 10 percent 2 .
• Annualized core RoE at 20.7 percent; underlying level very strong at 19 percent 2 .
• Solvency II ratio3 increases by 7 percentage points to 225 percent4. Capital generation remains very good.

Outlook & other

• Allianz is fully on track to achieve its full-year operating profit outlook of 17.4 billion euros, plus or minus 1 billion euros5.
• Share buy-back program of up to 2.5 billion euros announced on February 25, 2026 underway; 1.4 billion euros completed in the first half of 2026.

CEO comment

"Allianz has once more delivered strong results for the second quarter and first half of 2026, confirming the power of our customer-centered strategy. Our excellent performance gives us the ability – as well as the obligation – to bring superior advice, protection, and retirement solutions within reach for more customers around the world.

Insurance costs are rising faster than disposable income, and we take that challenge seriously. Through our investments in AI, risk prevention, and smarter services, we are determined to help more customers protect what matters to them at a price they can afford. This value creation is how Allianz earns the trust that sets us apart and drives our growth."

- Oliver Bäte, Chief Executive Officer of Allianz SE

FINANCIAL HIGHLIGHTS

Allianz Group: Strong performance and record operating profit