The total revenues for Allianz in Q4 2019 were up by 7% from €33.2bn in Q4 2018 to €35.5bn
Allianz headquarters in Munich. (Credit: Allianz)
Allianz Group has reported a net income of €1.95bn, or €4.46 per diluted share, for the fourth quarter of 2019, an increase by 11.2% compared to €1.76bn, or €4.01 per diluted share, for the same quarter in 2018.
The third-quarter 2019 net income for the German insurance group was €2.03bn, or €4.66 per diluted share.
Allianz’s total revenues for Q4 2019 were up by 7% from €33.2bn in Q4 2018 to €35.5bn.
The insurer’s life/health business contributed the most revenues in the reported quarter among all its units, at €20.5bn, which marks an increase by 5.9% compared to €19.4bn made in Q4 2018.
Its property/casualty business reported total revenues of €13.1bn in the fourth quarter of 2019, which is 7.5% more compared to €12.1bn in the same quarter in the year before.
For the full year 2019, Allianz made a net income of €8.3bn, which is 7.8% more than the full year 2018 net income of €7.7bn. The diluted earnings per share for FY2019 were up from €17.3 in the year before to €18.83.
Allianz FY2019 results
Allianz’s total revenues for the full year 2019 moved up 7.6% to €142.4bn compared to €132.3bn in the year before. The life/health unit saw an 8.5% increase in its total revenues at €76.4bn, while the property/casualty unit had its total revenues go up by 6.8% to €59.2bn compared to FY2018.
Allianz CEO Oliver Bäte said: “2019 was another successful year with record results for the Allianz Group. This reflects the trust of customers and shareholders and the engagement of our excellent people.
“Allianz continued to make important strategic strides in 2019 like our acquisitions in the UK and Brazil and being awarded the first fully foreign-owned insurance holding in China. We also contribute to society: As one of the initiators of the newly launched UN-convened Asset Owner Alliance we committed to transition our own investment portfolios to net-zero by 2050.”
Earlier this month, the company agreed to sell a 60% stake in its subsidiary Allianz Life Insurance Japan to AEON Financial Service in a move to create a joint venture to develop and sell life insurance solutions in Japan.