German insurer’s combined ratio rises two points to 94.6%
Allianz group made an operating profit of €2.9bn (£2.1bn) in the first quarter of 2015, up 4.8% on the €2.7bn it made in last year’s first quarter.
The German insurance group’s total revenues increased by 11.2% to €37.8bn (Q1 2014: €34bn), according to preliminary figures released this morning.
The group’s non-life combined operating ratio increased by two percentage points to 94.6% (Q1 2014: 92.6%), of which 1.9 points were attributed to claims from natural catastrophes.
Allianz group chief executive Michael Diekmann (pictured) said: “Our first quarter results were a good start into 2015 and we remain confident in achieving our full-year operating profit target of €10.4bn, plus/minus €400m.”
Allianz will publish its full first quarter 2015 results on 12 May.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet