Balance sheet & income statements

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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%
1 Includes interest expenses from external debt
2 Excluding investment result and fee income

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 Measers.

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.

The balance sheets and the quarterly results are shown in the financial supplement which is available in our Download Center, as well as webcasts and further documents.
The Allianz Group Annual Report is available as PDF and in the Allianz Investor Relations App.
Here you can find the key indicators about the Allianz share.