1 Includes interest expenses from external debt
2 Excluding investment result and fee income
2 Excluding investment result and fee income
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Assets
|
12/31/2023
EUR mn |
12/31/2022
EUR mn |
Change
|
---|---|---|---|
Cash and cash equivalents | 29,210 | 22,896 | 27.6% |
Investments | 721,802 | 690,991 | 4.5% |
Financial assets for unit-linked contracts | 152,872 | 141,034 | 8.4% |
Insurance contract assets | 172 | 327 | -47.3% |
Reinsurance contract assets | 24,719 | 25,605 | -3.5% |
Deferred tax assets | 5,992 | 6,369 | -5.9% |
Other assets | 29,757 | 30,234 | -1.6% |
Intangible assets | 18,649 | 18,442 | 1.1% |
Total assets | 983,174 | 935,897 | 5.1% |
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Liabilities and equity
|
12/31/2023
EUR mn |
12/31/2022
EUR mn |
Change
|
---|---|---|---|
Financial liabilities | 56,282 | 51,310 | 9.7% |
Insurance contract liabilities | 776,944 | 740,799 | 4.9% |
Reinsurance contract liabilities | 231 | 257 | -10.3% |
Investment contract liabilities | 49,686 | 47,827 | 3.9% |
Deferred tax liabilities | 2,124 | 2,158 | -1.6% |
Other liabilities | 34,328 | 34,810 | -1.4% |
Total liabilities | 919,594 | 877,163 | 4.8% |
Shareholders' equity | 58,477 | 54,415 | 7.5% |
Non-controlling interests | 5,103 | 4,320 | 18.1% |
Total equity | 63,580 | 58,735 | 8.2% |
Total liabilities and equity | 983,174 | 935,897 | 5.1% |
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|
2023
EUR mn |
2022
EUR mn |
Change
|
---|---|---|---|
Insurance revenue | 91,251 | 86,985 | 4.9% |
Insurance service expenses | -77,145 | -73,911 | 4.4% |
Reinsurance result | -2,742 | -2,090 | 31.2% |
Insurance service result | 11,364 | 10,983 | 3.5% |
Interest result1 | 25,386 | 24,801 | 2.4% |
Realized gains/losses (net) | -5,518 | 959 | n.m. |
Valuation result | 6,509 | -36,392 | n.m. |
Investment expenses | -1,849 | -1,919 | -3.7% |
Net investment income | 24,528 | -12,550 | n.m. |
Finance income (expenses) from insurance contracts (net) | -22,133 | 14,142 | n.m. |
Finance income from reinsurance contracts (net) | 556 | 1,422 | -60.9% |
Net insurance finance expenses | -21,577 | 15,564 | n.m. |
Investment result | 2,951 | 3,014 | -2.1% |
Fee and commission income | 13,651 | 13,094 | 4.3% |
Fee and commission expenses | -5,487 | -4,955 | 10.7% |
Net result from investment contracts2 | -238 | -60 | 294.3% |
Acquisition and administrative expenses | -9,513 | -11,209 | -15.1% |
Other income | 104 | 103 | 1.2% |
Other expenses | -363 | -32 | 1,035.7% |
Amortization of intangible assets | -319 | -323 | -1.3% |
Restructuring and integration expenses | -568 | -951 | -40.2% |
Income before income taxes | 11,582 | 9,664 | 19.8% |
Income taxes | -2,550 | -2,808 | -9.2% |
Net income | 9,032 | 6,856 | 31.7% |
Net income attributable to | |||
Non-controlling interests | 491 | 435 | 12.8% |
Shareholders | 8,541 | 6,421 | 33.0% |
Basic earnings per share (EUR) | 21.20 | 15.57 | 36.2% |
Diluted earnings per share (EUR) | 21.18 | 15.48 | 36.8% |
Update: March 7, 2024 (release of the Annual Reports 2023)
For the definitions of key indicators please refer to the Allianz Group Annual Reports and the Alternative Performance Measures.
The information in our reporting up to and including the 2022 fiscal year was based on accounting in accordance with IFRS 4 and IAS 39. Since January 1, 2023, new accounting in accordance with IFRS 9 and IFRS 17 has been applied. For better comparability of the key figures for 2023 and 2022, we have also presented the key figures for 2022 retroactively based on accounting in accordance with IFRS 9 and IFRS 17.