Allianz has reported operating profit of EUR 14.1bn for the first nine months of 2026, up 7.8% from EUR 13.1bn and its highest nine-month operating profit ever, and has raised the upper end of its full-year 2026 operating profit target range to around EUR 18.6bn.
The original target range was EUR 17.4bn, plus or minus EUR 1bn. Total business volume for the nine months reached EUR 143.0bn, with internal growth of 3.8%. Shareholders' core net income rose 10.6% to EUR 9.3bn, core earnings per share rose 12.7% to EUR 24.15, and annualised core return on equity was 20.1%. The Solvency II ratio stood at 219%.
In the third quarter, operating profit was EUR 4.7bn, up 6.2%, on total business volume of EUR 44.4bn.
In property and casualty, nine-month operating profit rose 3.2% to EUR 7.1bn on business volume of EUR 70.5bn, and the combined ratio was 92.2%, compared with 91.6%. Third-quarter property and casualty operating profit fell 7.9% to EUR 2.2bn, with a combined ratio of 93.8%, which the company attributed to higher natural catastrophe impact.
Life and health nine-month operating profit rose 3.1% to EUR 4.4bn, with a new business margin of 5.5%. Asset management operating profit rose 20.3% to EUR 2.9bn, with third-party net inflows of EUR 132bn and third-party assets under management of EUR 2.152tn. A share buyback of up to EUR 2.5bn was fully executed by 22 September 2026.
"Allianz’s record operating profit of 14.1 billion euros for the first nine months of 2026 reflects the disciplined execution of our strategy," said Oliver Bäte, Chief Executive Officer of Allianz SE.
"In the third quarter 2026, Allianz delivered a strong operating profit of 4.7 billion euros, despite high capital market volatility and elevated natural catastrophe losses," said Claire-Marie Coste-Lepoutre, Chief Financial Officer of Allianz SE.
Allianz, headquartered in Munich, is a global insurer and asset manager.
