Allianz has reported net income attributable to shareholders of €2.42bn for the first quarter of 2025 (Q1 2025), a fall of 2.1% from €2.47bn in Q1 2024.

The German insurer’s operating profit rose by 6.3% to €4.2bn in the quarter ended 31 March 2025, up from €3.9bn the previous year.

Property-Casualty contributed €2.1bn with a 5% increase in operating profit, while the Life/Health segment saw a 7.5% rise to €1.4bn.

Total business volume for the company reached €54bn in Q1 2025, an 11.6% rise from €48.4bn a year ago.

The company attributed this growth to "sustained momentum across all segments".

The Property-Casualty segment reported a 6% increase to €27bn in total business volume, while the Life/Health volume surged by 18.6% to €25bn.

Additionally, Allianz announced a share repurchase programme of up to €2bn on 27 February, of which €100m was completed in Q1 2025.

Looking ahead, the insurer believes it "is fully on track to achieve full-year operating profit outlook” of €16bn, plus or minus €1bn.

Allianz SE CEO Oliver Bäte said: “Allianz’s first quarter performance and our confirmed outlook underscore our financial strength and resilient business model, which benefits from the attractiveness of our customer value propositions amid geopolitical and economic uncertainty.

“In fact, we view this uncertainty and change as a catalyst for innovation and growth, allowing us to pursue new opportunities and expand our offerings. As the world's leading insurance brand, we are well-positioned to benefit from the global flight to trust, with the ability to meet growing customer demand for protection and retirement solutions.”

In March, the company signed a preliminary agreement with Jio Financial Services to establish an insurance joint venture, as reported by Bloomberg.

This development comes after Allianz's decision to exit insurance JVs with Bajaj by selling its 26% stake in Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company to Bajaj Finserv and other promoter entities for €2.59bn.

"Allianz net income drops 2.1% in Q1 2025 " was originally created and published by Life Insurance International, a GlobalData owned brand.

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