Allianz has reported a record operating profit of EUR14.1bn ($15.62bn) for the first nine months of 2026. That figure is up 7.8% year on year, and the company raised the upper end of its full-year operating profit guidance to around EUR18.6bn. Total business volume increased 3.8% to EUR143bn, driven by strong growth in asset management and property-casualty insurance. Shareholders' core net income rose 10.6% to EUR9.3bn, while core earnings per share increased 12.7% to EUR24.15.
In the third quarter, total business volume reached EUR44.4bn, representing internal growth of 3%. Operating profit increased 6.2% to EUR4.7bn, supported by strong contributions from asset management and life and health insurance. Shareholders’ core net income rose 1.2% to EUR2.9bn. Allianz said underlying growth was 3% after adjusting for offsetting measures following the sale of its stakes in Indian joint ventures.
The insurer's annualised core return on equity stood at 20.1% for the first nine months, while its Solvency II ratio reached 219%, one percentage point higher than at the end of 2025. Allianz also reported continued strong capital generation and confirmed that its share buy-back programme of up to EUR2.5bn, announced in February 2026, had been fully executed by September.
Allianz SE CEO Oliver Bäte said the record operating profit reflected the group's disciplined execution of its strategy. He added that the company was working to use its scale and expertise to deliver accessible protection and retirement solutions as affordability became a growing concern for consumers. Mr Bäte said sustainable customer growth depended on understanding customer needs and building trust, alongside maintaining competence, resilience and efficiency.