Allianz Achieves Record Results and Expects a Full-Year Operating Profit of at Least 17 Billion Euros

MUNICH — 3Q 2025

• Double-digit growth in operating profit and shareholders’ core net income
• Total business volume rises 5.2¹ percent with contributions from all segments
• Operating profit increases 12.6 percent to 4.4 billion euros, with particular strong contribution from the Property-Casualty segment
• Shareholders’ core net income advances by 12.7 percent and reaches 2.9 billion euros

9M 2025

• Continued strong and diversified growth across our businessesand record operating profit
• Total business volume rises 8.5 ¹ percent and reaches 141.2 billion euros with contributions from all segments
• Operating profit increases 10.4 percent to 13.1 billion euros, our highest nine-month operating profit ever, reaching 82 percent of our full-year outlook midpoint
• Shareholders’ core net income advances 10.5 percent to 8.4 billion euros. Adjusted for the one-off tax provision related to the sale of our stake in our Indian Joint Ventures and the divestment gain on the UniCredit Joint Venture, shareholders’ core net income increases by 8.3 percent
• Core earnings per share (EPS) grow 12.2 percent and reach 21.43 euros. Adjusted for the tax provision and the divestment gain, core EPS rise 9.9 percent
• Annualized core return on equity (RoE) reaches an excellent level of 18.5 percent, respectively 18.2 percent adjusted for the tax provision and the divestment gain
• Solvency IIcapitalization ratio remains strong at 209² percent with excellent capital generation

Outlook & other

• For full-year 2025, Allianz expects to achieve an operating profit of at least 17 billion euros, the upper-end of the full-year outlook range of 16 billion euros, plus or minus 1 billion euros³. Most likely, the full-year operating profit will be in the range between 17 and 17.5 billion euros ³
• Share buy-back program of up to 2 billion euros, announced on February 27, 2025, was fully executed as of September 2025

CEO comment

“Allianz has once again delivered another set of record results, an outcome that is made possible by our exceptional levels of brand trust, customer loyalty, and employee motivation.

Alongside our Smart Growth and Resilience levers, we will continue our disciplined focus on productivity to generate even greater value for money for our customers.

Affordable insurance solutions remain essential to inclusive economic prosperity, and Allianz remains dedicated to securing a future in which more people can access the protection and peace of mind that our products and services provide.”- Oliver Bäte, Chief Executive Officer of Allianz SE