Allianz Group began 2015 with a strong first quarter. Total revenues increased by 11.2 percent and reached 37.8 (previous year: 34.0) billion euros. Operating profit grew 4.8 percent to 2.86 (2.72) billion euros. Net income attributable to shareholders rose 11.0 percent to 1.82 (1.64) billion euros.
In Property and Casualty insurance, revenues experienced excellent growth. In the Life and Health insurance segment, operating profit surpassed 1 billion euros for the first time. Third-party assets under management increased due to market movements and foreign currency exchange effects.
The conglomerate solvency ratio rose by 10 percentage points to 190 percent as of March 31, 2015. Solvency II capitalization remained stable at 192 percent compared to 191 percent at the end of 2014 due to management actions. Shareholders’ equity grew over the same period by 12.6 percent to 68.4 billion euros compared to 60.7 billion euros.
“Allianz achieved very good results in the first quarter compared to last year’s already strong first quarter. While it is a promising start, the challenge of the current low-interest rate environment remains. However, we are well prepared for the rest of 2015,” said Dieter Wemmer, Chief Financial Officer of Allianz SE.