Allianz Achieves Record Operating Profit of 17.4 Billion Euros – Excellent Start to New Strategic Cycle

MUNICH--(BUSINESS WIRE)--12M 2025

• Excellent momentum and record operating profit
• Total business volume rises 8.11 percent and reaches 186.9 billion euros with contributions from all segments
• Operating profit increases 8.4 percent to 17.4 billion euros, our highest operating profit ever
• Shareholders’ core net income advances 10.9 percent to 11.1 billion euros
• Core earnings per share (EPS) grow 12.5 percent and reach 28.61 euros
• Core return on equity (RoE) reaches an excellent level of 18.1 percent
• Solvency II ratio2 increases 10 percentage points to 218 percent supported by excellent capital generation

4Q 2025

• Diversified growth and double-digit increase in shareholders’ core net income
• Total business volume rises 6.5 1 percent with contributions from all segments
• Operating profit increases 3.0 percent to 4.3 billion euros, driven by excellent contribution from the Property-Casualty segment
• Shareholders’ core net income advances 12.2 percent and reaches 2.7 billion euros

Outlook & other

• For 2026, Allianz targets an operating profit of 17.4 billion euros, plus or minus 1 billion euros3
• Management to propose a dividend per share of 17.10 euros, an increase of 11.0 percent from 2024
• Allianz has announced a new share buy-back program of up to 2.5 billion euros on February 25, 2026

CEO comment

“Allianz’s record results for 2025 demonstrate – again – our ability to deliver reliably, including in rapidly shifting and increasingly divisive environments. The strength of our performance and fundamentals goes well beyond our financial discipline and operational resilience. Our success is also powered by our leading brand strength, record customer loyalty, and highly motivated employees.

Customers expect protection and peace of mind at a price that they can afford, which is why our ability to offer superior value is so vital to the continued growth of our customer base. To mitigate deepening polarization in the world, it remains our strategic priority – as well as our societal responsibility – to ensure that people can access the freedom and security that our products and services provide.”

- Oliver Bäte, Chief Executive Officer of Allianz SE

FINANCIAL HIGHLIGHTS

Allianz Group: An excellent start to our Capital Markets Day delivery

Key performance indicator		4Q 2025			Change vs prior year			12M 2025			Change vs prior year
Total business volume (€ bn)4		45.7			6.5	%		186.9			8.1	%
Operating profit (€ mn)		4,297			3.0	%		17,374			8.4	%
Shareholders’ core net income (€ mn)		2,731			12.2	%		11,113			10.9	%
Core return on equity (%)								18.1			1.2%-p
Solvency II ratio (%)								218			10%-p