Allianz SE has reported a record operating profit of €16.0 billion for 2024, marking an 8.7% increase from the previous year, with strong performance across all business segments. The German financial services giant also announced a new share buyback program worth up to €2 billion.
Allianz’s total business volume rose 11.2% in 2024 to €179.8 billion, driven primarily by its life/health and property-casualty segments. Shareholders’ core net income increased 10.1% to €10.0 billion, while net income attributable to shareholders climbed 16.3% to €9.9 billion.
The company’s Solvency II capitalization ratio remained robust at 209% by the end of 2024. Allianz’s board of management proposed a dividend per share of €15.40, an 11.6% increase from 2023.
In the fourth quarter of 2024, Allianz posted a 10.9% rise in operating profit to €4.2 billion, with total business volume growing 16% to €45.9 billion. The property-casualty segment was a key driver of this growth.
Allianz has set an operating profit target of €16.0 billion for 2025, with a variance of plus or minus €1 billion, acknowledging potential impacts from natural catastrophes and market fluctuations.
CEO Oliver Bäte (pictured) highlighted the company’s resilience in an uncertain global environment. “In 2024, Allianz delivered another set of record financial results, which are underpinned by strong performance across all segments, consistently high customer satisfaction, and record employee engagement,” said Bäte. “Our renewed strategy, recently announced at our Capital Markets Day, underscores our conviction in growth and our confidence in our resilience and our capabilities.”
The company noted that the new share buyback program will start in March 2025 and be finalized by December 31, 2025, at the latest. Allianz SE will cancel all repurchased shares.
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