“In 2024, Allianz delivered another set of record financial results, which are underpinned by strong performance across all segments, consistently high customer satisfaction, and record employee engagement. Allianz remains the trusted partner of choice for our customers in a global context in which above-average levels of natural catastrophes, armed conflicts, and deepening polarization continue to create considerable volatility.
These conditions elevate the need for what Allianz offers its customers and the world: a more secure future that translates into greater prosperity. Our renewed strategy, recently announced at our Capital Markets Day, underscores our conviction in growth and our confidence in our resilience and our capabilities. As we realize the value of our deepening customer relationships, we lift our ambitions to deliver even higher capital-efficient growth in the quarters and years ahead.”
Financial highlights
Total business volume
12M 2024: Total business volume increased strongly by 11.2 percent to 179.8 billion euros. Adjusted for foreign currency translation and consolidation effects, internal growth was 11.9 percent. Our Life/Health business was the main growth driver, with strong contribution also from our Property-Casualty segment.
4Q 2024: Total business volume growth of 16.0 percent to 45.9 billion euros was excellent. Adjusted for foreign currency translation and consolidation effects, internal growth reached 16.2 percent, further accelerating from an already strong performance in the first nine months (9M 2024: 11.1 percent). The Life/Health segment was the main growth driver, while our Property-Casualty business also contributed strongly.
Earnings
12M 2024: Operating profit was excellent at 16.0 (12M 2023: 14.7) billion euros, an increase of 8.7 percent. All business segments contributed, with our Property-Casualty business being the main driver.
Shareholders’ core net income advanced by 10.1 percent to a very strong level of 10.0 billion euros, driven by operating profit growth and a higher non-operating result.
Net income attributable to shareholders increased by 16.3 percent to 9.9 (8.5) billion euros.
Core earnings per share (EPS)2 rose to 25.42 (22.61) euros.
The core return on equity (RoE)2 improved to 16.9 percent (16.1 percent).
The Board of Management proposes a dividend per share of 15.40 euros for 2024, an increase of 11.6 percent from 2023.
On February 27, 2025, Allianz has announced a new share buy-back program of up to 2 billion euros.
4Q 2024: Operating profit was excellent at 4.2 (4Q 2023: 3.8) billion euros. The strong increase of 10.9 percent was primarily driven by the Property-Casualty business but all segments contributed.
Shareholders’ core net income was 2.4 (2.4) billion euros, an increase of 3.5 percent.
Net income attributable to shareholders rose to 2.5 (2.2) billion euros, driven by a higher operating profit and a better non-operating result.
Solvency II capitalization ratio
The Solvency II capitalization ratio remained at a strong level of 209 percent at the end of 2024 (3Q 2024: 209 percent3).
Segmental highlights
“Allianz’s excellent results for 2024 and the consistency of our delivery once again underline our ability to create sustainable value for all the stakeholders invested in our success.
In an environment of muted economic growth and significant levels of natural catastrophes we have achieved record operating profit and net income. All segments finished the year above their operating profit target mid-points, which demonstrates the resilience of our business model.
Building on our strong foundations, we enter 2025 with confidence. We have lifted our ambitions at our Capital Markets Day in December and are committed to continue generating attractive returns for our shareholders.”
