For the first quarter of 2024, Allianz has reported a 15.7% increase in net income attributable to shareholders to 2.51 billion euros, and a 6.8% increase in operating profit to 3.99 billion euros, on total business volume up 5.3% to 48.4 billion euros.

The German insurance company explains that growth in operating profit was driven primarily by the property-casualty segment (+10.4%), and secondarily by the asset management (+7%) and life-health (+0.5%) segments.

Also claiming a Solvency II capitalization ratio of 203% and an annualized core RoE of 17.4% at the end of March, Allianz confirms its operating profit target for 2024 at €14.8 billion, give or take a billion.

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