Allianz Group continued its good performance in the second quarter of 2015. Total quarterly revenues increased 2.4 percent to 30.2 (second quarter of 2014: 29.5) billion euros. Operating profit climbed 2.6 percent to 2.84 (2.77) billion euros. Net income attributable to shareholders amounted to 2.02 (1.76) billion euros, an increase of 263 million euros or 15.0 percent. This increase was mainly driven by non-operating realized gains/losses (net) that were 181 million euros higher compared to the second quarter of 2014.
In the first half of the year, total revenues rose 7.1 percent to 67.9 (63.4) billion euros. Operating profit climbed 3.7 percent to 5.70 (5.49) billion euros, while net income attributable to shareholders advanced 13.1 percent to 3.84 (3.40) billion euros.
In the second quarter, the segment Property and Casualty insurance saw a strong increase in operating profit supported by a lower impact from natural catastrophes and the net gain from the sale of the personal insurance business of Fireman’s Fund Insurance Company. In the Life and Health insurance segment, demand for non-traditional life insurance products continued to increase amid overall lower sales. Asset Management performed within expectations.
Solvency II capitalization rose 22 percentage points to 212 percent as of June 30, 2015, from 191 percent at the end of 2014. Shareholders’ equity remained stable at 60.69 billion euros compared to 60.75 billion euros at year end.
"Despite negative one-offs, we have achieved an excellent performance in the first six months," said Oliver Bäte, Chairman of the Board of Management of Allianz SE. "We confirm our operating profit outlook for 2015 at the upper end of the target range at 10.8 billion euros."