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Allianz sees 24.2% increase in Q1 operating profit to €3.7 billion

May 12, 2023

Allianz has reported that its Q1 2023 operating profit increased 24.2% to €3.7 billion, which the firm attributes to strong performance in Life/Health and Property-Casualty business segments.

Meanwhile, total business volume in Q1 2023 increased by 3.9% to €46 billion.

Allianz states this growth was spearheaded by the Property-Casualty segment, which benefited from higher prices and volumes.

The firm also reported Q1 2023 shareholders’ core net income of €2.2 billion, a substantial increase from the $400 million recorded in Q1 of 2022.

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