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Allianz has reported web revenue of €2.25bn within the fourth quarter (This fall) of 2023, a 91.1% rise in contrast with €1.18bn in the identical interval in 2022.
The overall enterprise quantity for the insurer in the course of the three months elevated by 7.8% to €39.6bn throughout all enterprise segments.
The property and casualty (P&C) sector noticed its whole enterprise quantity climb by 7.3% to €17.6bn, with Germany, AGCS (Allianz World Company & Specialty), central and jap Europe, and Italy being the first progress drivers.
Working revenue for P&C skilled a 1.6% to €1.6bn, attributed to a better working funding consequence, which was partially offset by decrease different working and insurance coverage service outcomes.
Within the life and well being section, the current worth of recent enterprise premiums surged to €16.7bn, supported by elevated volumes within the US and Italy, regardless of some offsets attributable to overseas forex translation results and financial impacts.
The working revenue on this section rose to €1.36bn from €1.05bn in This fall 2022, with the US, Asia-Pacific and France contributing notably to this progress.
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By GlobalData
Allianz’s full-year web revenue elevated by 31.7% to €9.03bn.
The corporate’s whole property underneath administration reached €2.22trn on the finish of 2023, marking a rise of €82bn from the earlier yr.
The board of administration at Allianz will increase the payout ratio to 60% from the earlier 50% and is proposing a dividend per share of €13.80 for 2023, up 21.1% from 2022.
Moreover, Allianz has unveiled a brand new share buyback programme value as much as €1bn.
Waiting for 2024, Allianz is focusing on an working revenue of €14.8bn, with a potential variation of plus or minus €1bn.
Allianz CEO Oliver Bäte mentioned: “Allianz prolonged our observe document of delivering a document working revenue and core web revenue, consolidating our main place as one of many world’s most resilient international insurers and energetic asset managers.
“The self-discipline of our technique, execution and capital administration bolsters our working revenue outlook for 2024, our new dividend coverage and our renewed share buyback programme. Within the coming yr, we’ll proceed to give attention to unlocking the advantages of our scale to additional enhance our productiveness, and on changing our glorious buyer expertise into worthwhile buyer progress.”
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