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Allianz Group 2Q 2017 operating profit up 23 percent due to improvements in all segments

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Full-year operating profit is expected to arrive near upper end of target range indicated in the outlook

Allianz SE
Munich, July 26, 2017 | 10:21 pm

Based on preliminary figures, Allianz Group achieved a 23 percent increase in operating profit in the second quarter of 2017 to 2.9 billion euros (second quarter of 2016: 2.4 billion euros). Total revenues rose 2.0 percent to 29.994 (29.402) billion euros in the second quarter. Net income attributable to shareholders rose 83.4 percent in the second quarter to 2.0 (1.1) billion euros. The tax rate fell to 27 percent from 33 percent in the year-ago period.

For the full year, Allianz now expects to arrive near the upper end of its operating profit target range of 10.8 billion euros, plus or minus 500 million euros, barring unforeseen events, crises or natural catastrophes.

Prior-year figures have been restated due to an updated operating profit definition and an accounting policy change, as already detailed in the first quarter 2017.

As announced, Allianz SE will publish detailed financial results for the second quarter and the first half year of 2017 on August 4, 2017.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.