Group Affirms Full-year Outlook

MUNICH--(BUSINESS WIRE)--May 15, 2024

1Q 2024:

• Total business volume advances 5.3 percent to 48.4 billion euros
• Operating profit increases 6.8 percent to 4.0 billion euros driven by the Property-Casualty business segment, supported by good results in the Asset Management and the Life/Health business segments
• Shareholders’ core net income rises to 2.5 billion euros, up by 15.7 percent
• Strong Solvency II capitalization ratio of 203 percent1

Outlook:

• 2024 operating profit target maintained at 14.8 billion euros, plus or minus 1 billion euros2

Other:

• 1 billion euros share buy-back started, 0.5 billion euros completed