Allianz, the German insurance and financial services company, published revenues of 36.7 billion euros in the fourth quarter of 2022. A figure down 4.5% compared to the same period a year ago.
Operating profit increased by 12.7% to 4 billion euros, driven by the strong performance of the life/health segment. Net income attributable to shareholders was €2 billion, compared with -€0.3 billion in the same period a year earlier, when it had been hit by a US funds scandal.
Total revenues for the full year 2022 increased by 2.8% to 152.7 billion euros. Operating profit rose 5.7% to €14.2 billion, driven by excellent performance in the Non-Life and Life/Health segments. Net income attributable to shareholders increased by 1.9% to €6.7 billion.
“With our record results for both revenues and operating profit in 2022, Allianz has solidified its position as one of the largest, most resilient and most trusted global financial institutions in the world” – commented CEO Oliver Bate. “Our performance is the product of thoughtful engineering, reliable execution, relentless simplification and disciplined capital management,” he continued.
As for the outlook, Allianz said its 2023 operating profit target is 14.2 billion euros, plus or minus 1 billion euros.
The board of directors will propose a dividend of €11.40 per share for 2022, an increase of 5.6% compared to 2021.