2Q 2022: Total revenues rose by a strong 16.2 percent to 16.2 (13.9) billion euros. Adjusted for foreign currency translation and consolidation effects, the internal growth rate more than tripled to 11.1 percent due to a price effect of 5.8 percent, a volume effect of 3.9 percent and a service effect of 1.4 percent. The main contributors to the increase were Allianz Partners, AGCS and Türkiye.
Operating profit jumped 21.1 percent to 1.6 (1.4) billion euros, due to strong growth in the underwriting result and the operating investment result.
The combined ratio improved by 0.3 percentage points to 93.6 percent (93.9 percent). Lower claims from natural catastrophes and a favorable contribution from the run-off result more than offset higher attritional losses due to normalization of claims frequency and impact of inflation in Brazil and Türkiye as well as weather-related events. The expense ratio was 26.8 percent (26.4 percent), mainly due to higher acquisition costs amid a change in business mix at Allianz Partners.
6M 2022: Total revenues surged 12.1 percent to 37.7 (33.6) billion euros. Adjusted for foreign currency translation and consolidation effects, internal growth was strong at 8.5 percent, supported by a price effect of 4.8 percent as well as a volume effect of 2.8 percent and a service effect of 0.8 percent. While many entities added to that growth, the primary contributors were Allianz Partners, Türkiye and Germany.
Operating profit rose 5.2 percent to 3.0 (2.9) billion euros, largely driven by a significantly higher operating investment result.
The combined ratio was 94.1 percent (93.4 percent) as the impact of higher natural catastrophes as well as weather-related claims and normalization of claims frequency was partially offset by a favorable run-off result. The underwriting result remained stable.