Allianz Posts Q4 Profit Rise, Raises Dividend and Announces Buyback Plan

Allianz reported a 15% YoY increase in net profit to €2.57bn in Q4, driven by its property-casualty segment. Total business volume rose 16% to €45.9bn, and the company plans to increase its dividend by 12% to €15.40/share. Allianz will also launch a €2bn share buyback program and target an operating profit of €16bn for 2025.

Allianz, the German insurer and asset manager, reported impressive financial results for the fourth quarter of 2024. The company's net profit increased by 15% year-over-year (YoY) to €2.57 billion [1], driven primarily by its property-casualty segment.

Total business volume rose by 16% to €45.9 billion, reflecting the company's continued growth momentum. Allianz's strong financial performance enabled the company to announce a 12% increase in its dividend per share to €15.40 [1].

Moreover, Allianz unveiled a €2 billion share buyback program, which demonstrates the company's confidence in its future prospects. The insurer also aims to achieve an operating profit of €16 billion for the year 2025 [1].

Allianz's impressive results were supported by strong performance across all segments. The company's property-casualty segment, which accounted for the majority of the growth, experienced a 10.9% increase in operating profit to €4.2 billion [1]. The life and health segment also reported a 3.5% increase in operating profit to €2.4 billion [1].

Allianz's CEO, who expressed satisfaction with the company's performance, stated, "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" [2].

The CEO also highlighted the need for Allianz's offerings in a volatile global environment, stating, "These conditions elevate the need for what Allianz offers its customers and the world: a more secure future that translates into greater prosperity" [2].

References:
[1] EQS-News: Allianz SE / Key word(s): Quarter Results/Annual Results
[2] Allianz press release
[3] Allianz CEO statement