Results season continues with global insurer Allianz publishing its financials for the quarter and year ended December 31, 2022.
The Germany-headquartered business reported the following numbers:
|
Metric |
Q4 2022 |
Q4 2021 |
FY 2022 |
FY 2021 |
|---|---|---|---|---|
|
Total revenues |
€36.7 billion |
€38.4 billion |
€152.7 billion |
€148.5 billion |
|
Operating profit |
€4 billion |
€3.5 billion |
€14.2 billion |
€13.4 billion |
|
Net income attributable to shareholders |
€2 billion |
negative €292 million |
€6.7 billion |
€6.6 billion |
Segment-wise, property-casualty insurance’s operating profit in the fourth quarter slid by 5.4% while FY22 operating profit grew 8.4%; life/health insurance saw a 50.5% surge in Q4 operating profit while that for the year rose by 5.4%; and asset management posted decreases in operating profit for both periods, by 22.2% and 8.3%, respectively, in the last quarter and 12 months.
Lifting the lid on the group’s operating profit for FY22, Allianz noted in its earnings announcement that the property-casualty business segment contributed higher underwriting and investment results, while the increase in operating profit in life/health was attributed to the acquired Polish operations from Aviva and business growth in Asia.
Allianz SE chief executive Oliver Bäte commented: “With our record results for both revenue and operating profit in 2022, Allianz has consolidated its position as one of the world’s largest, most resilient, and trusted global financial institutions.
“Our performance is the product of thoughtful design, reliable execution, relentless simplification, and disciplined capital management. Also, customer and employee satisfaction as well as brand strength reached new all-time high scores.
“In an unpredictable world with growing risks and societal imbalances, we are proudly demonstrating our ability to leverage the benefits of Allianz’s scale for our customers, our employees, and our shareholders.”
