Allianz begins 2021 with strong results

Allianz published its Q1 financial results today May 12, 2021.

In a nutshell:

* Total revenues of 41.4 billion euros, adjusted for currency and consolidation effects, flat compared to prior year level
* 1Q 2021 operating profit up 44.8 percent to 3.3 billion euros
* 1Q 2021 net income attributable to shareholders increased 83.4 percent to 2.6 billion euros
* Solvency II capitalization ratio of 210 percent1
* 2021 operating profit target confirmed at 12.0 billion euros, plus or minus 1 billion euros
* Allianz Global Corporate & Specialty (AGCS) gross premium written decreased by €73 million to €2.938 billion (3M 2020: €3.011 billion). Positive impact from effective rate changes of 22% for renewal business across the portfolio was offset by underwriting actions targeting loss making accounts and segments

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