Group Fully on Track for Full-Year Outlook, Powered by Strong Fundamentals

MUNICH--(BUSINESS WIRE)--August 8, 2024

2Q 2024:

• Total business volume advances 7.6 percent to 42.6 billion euros
• Operating profit reaches 3.9 billion euros driven by good results in all segments
• Shareholders’ core net income stable at 2.5 billion euros

6M 2024:

• Total business volume rises by 6.4 percent to 91.0 billion euros
• Operating profit increases by 5.3 percent to 7.9 billion euros driven by all segments
• Shareholders’ core net income advances 7.7 percent to 5.0 billion euros
• Strong Solvency II capitalization ratio of 206 percent1

Outlook:

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

Other:

• Share buy-back of 1 billion euros executed by the end of July 2024
• Decision to expand the total volume of the share buy-backs in the financial year 2024 to a total of 1.5 billion euros
• Allianz has therefore resolved to repurchase additional shares in a volume of up to 500 million euros