Allianz increased its operating profit by 7.5% in the first quarter

Insurance company Allianz, the largest insurance company in Europe in terms of market value and revenue, reported that in the first quarter its operating profit amounted to 2.962 billion euros, having increased by 7.5% over the year, mainly due to the good quarterly results recorded in the property insurance segment. During the earnings period, net profit increased by 1.6% to 1.969 billion euros. Revenues reached 40.3 billion euros, its annual growth was at 9.1%. The division in the field of property and accident insurance showed an increase in operating profit of 14.2% to 1,455 billion euros. In the segment of life insurance and medical insurance, there was a 2.5% increase in operating profit. The German insurer also reported a record volume of assets under its management of 1.55 trillion euros and a net inflow of customer funds in the amount of 17.8 billion euros. Since the beginning of the year, its capitalization has increased by 12.5%.

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