Allianz reports 16.7% increase in net income for FY 2024

It’s life and health segment saw the largest YoY increase of 14.7%.

Allianz’s net income for fiscal year 2024 (FY 2024) jumped 16.7% year-on-year (YoY) to $11.04m (€10.54m), whilst core earnings per share increased to $26.69 (€25.42) from $23.74 (€22.61).

It’s life and health segment saw the largest YoY increase of 14.7% to $93.56m (€89.3m). It was followed by property and casualty and asset management, both increasing by 8.3% YoY and 3.0% YoY to $86.86m (€82.9m) and $8.70m (€8.3m).

The company’s total business volume rose 11.2% YoY to $188.79b (€179.8b). Internal growth, adjusted for foreign exchange and consolidation effects, was 11.9%, driven primarily by the Life/Health segment and supported by the Property-Casualty business.

Operating profit increased 8.7% to $16.8b (€16.0b), up from $15.435b (€14.7b) in 2023, with all business segments contributing, particularly Property-Casualty.

($1.00 = €0.95)