Allianz+0.68%
Allianz Q4 revenue up 7% to €35.5B
Allianz SE's total revenue in the fourth fiscal quarter of 2019 grew 7% on an annual basis to €35.5, the insurance giant said on Friday. Operating profit was down 1% to €2.8 billion compared to the same period in the prior year. Net income advanced 11% to €2 billion versus Q4 in 2018, which translated to €4.4 gain per diluted share. The diluted EPS was 13% higher year-over-year.
Compared to the whole fiscal 2018, revenue in 2019 climbed 8% to €142.4 billion. Operating profit rose 3% to €11.5 billion. Net income increased 8% to €7.7 billion and diluted EPS grew 9% to €17.3.
In the Q4, combined ratio was up 5.5 percentage points to 99.6%. In the whole of 2019, the ratio increased 1.5 percentage points to 95.5%. Cost-income ratio was down 1 percentage point to 62.7% in the fourth quarter while it slipped 0.2 points in the whole year at 62.3%.
”2019 was another successful year with record results for the Allianz Group. This reflects the trust of customers and shareholders and the engagement of our excellent people. Allianz continued to make important strategic strides in 2019 like our acquisitions in the UK and Brazil and being awarded the first fully foreign-owned insurance holding in China," chief executive Oliver Baete said in the press release.