Home Business NewsBusiness Insurance giant Allianz announces record profits of £10bn

Insurance giant Allianz announces record profits of £10bn

by LLB Reporter
15th Feb 19 9:40 am

Allianz the German insurance company has announced on Friday, their highest operating profit in history, was £10.1bn.

Oliver Bate chief executive of Allianz said, “I am very proud of the global Allianz family for delivering such a great set of results. We reached the highest net income of the past ten years despite strong market volatility, especially in the fourth quarter.

“Our customers continue to rely on us, and it’s with them in mind that we are focusing on simplicity in the next iteration of our strategy.”

The insurance giant said their operating profit was due to an improved expense ratio with lower claims.

The company has said their profit target for 2019 is £10.3bn.

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