Allianz (ALIZF,$208.00) posts Q1 results; revenue is up +6.2% year-over-year

Allianz reported first quarter operating profit of 3.2 billion euros – which remains solid, albeit with a mild,  -2.9% decrease amidst higher claims from natural catastrophes.

The insurance company’s total revenues in the quarter were 44.0 billion euros, up +6.2% from the year-ago quarter.  Internal revenue growth (which adjusts for foreign currency translation and consolidation effects) was +3.8%, on the back of growth in all business segments.

According to the company, Property-Casualty business experienced  strong internal growth, driven by “healthy pricing and robust volume growth”.  Operating profit was impacted by the highest level of claims from natural catastrophes for a first-quarter in a decade, the company stated.

In Life/Health, solid improvement in new business margin and value was due to improved business mix and increase in volumes across most entities – thereby auguring well for the company's  future profitability, according to the company.

Allianz mentioned that its Asset Management business had a “very strong” first-quarter in operating profit.

Looking ahead, Allianz confirmed its 2022 operating profit outlook at  13.4 billion euros (plus or minus 1 billion euros).

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.