Revenues rise 2.7 percent to 106.4 billion euros / Operating profit increases to 9.5 billion euros, achieving raised outlook for 2012 / Net income attributable to shareholders doubles to 5.2 billion euros / Solvency ratio improves to 197 percent / Proposed dividend of 4.50 euros per share at previous year’s level
Munich, Feb 21, 2013
Please note: Final results for the fiscal year 2012 will be released on March 15, 2013 (publication of the Annual Report).
Allianz Group reported strong results for the financial year 2012. Revenues reached 106.4 billion euros for the year, an increase of 2.7 percent compared to 103.6 billion euros in the previous year. Operating profit rose 20.8 percent in 2012 to 9.5 billion euros from 7.9 billion euros in 2011. Allianz achieved its operating profit target that had been raised in October 2012 to over 9 billion euros. Until then, Allianz had expected to earn an operating profit of 8.2 billion euros, plus/minus 500 million euros.
All business segments delivered double-digit growth in operating profit in 2012. Property and Casualty insurance benefited from an improved underwriting result including lower losses from natural catastrophes. The Life and Health insurance business stayed the course and successfully withstood a very competitive and challenging low-interest rate environment. Asset Management delivered another excellent year.
Net income attributable to shareholders more than doubled in 2012. It reached 5.2 billion euros after 2.5 billion euros in 2011, an increase of 103.1 percent. The 2011 result had been impacted by impairments from Greek sovereign debt and investments, particularly in financials.
Shareholders’ equity increased to 53.553 billion euros from 44.915 billion euros in 2011. At the end of 2012, the conglomerate solvency ratio was 197 percent, up 18 percentage points from 179 percent the year before.
The Board of Management will propose to the Supervisory Board of Allianz SE a dividend of 4.50 euros per share.
"Our business had developed so well for the first three quarters that we raised our operating profit outlook. Despite the impact from the storm Sandy, we exceeded our forecast," said Michael Diekmann, CEO of Allianz SE. "Our results show how well our business model can handle the various turbulences from the financial crisis. The sustainability and continuity of our business are also reflected in our dividend policy. That is why we are again recommending a dividend of 4.50 euros per share, a payout ratio of 40 percent."