Higher payout ratio, increased dividend per share plus new share buy-back announced.
12M 2023:
- Total business volume rises 5.5 percent to 161.7 billion euros
- Operating profit increases 6.7 percent to 14.7 billion euros primarily driven by the Life/Health business segment
- Shareholders’ core net income excellent at 9.1 billion euros, up by 30.3 percent
4Q 2023:
- Total business volume advances 7.8 percent to 39.6 billion euros
- Operating profit surges by 17.0 percent to 3.8 billion euros driven by the Life/Health business segment, supported by solid results in all other business segments
- Shareholders’ core net income of 2.4 billion euros, up by 46.4 percent
- Strong Solvency II capitalization ratio of 206 percent1 after proposed dividend payout
Outlook:
- 2024 operating profit target at 14.8 billion euros, plus or minus 1 billion euros2
Other:
- Management to propose a dividend per share of 13.80 euros, an increase of 21.1 percent from 2022
- Regular dividend payout ratio increased to 60 percent (from 50 percent). This new dividend policy shall already apply to the dividend for fiscal year 2023
- In addition to this, a renewed share buy-back program of up to 1 billion euros announced
“Allianz extended our track record of delivering a record operating profit and core net income, consolidating our leading position as one of the world’s most resilient global insurers and active asset managers.
Our results demonstrate the trust that our customers place in Allianz, and in the resilience and potential of our business model and our people. Our Property-Casualty business saw strong growth while we supported our customers affected by elevated levels of natural catastrophes. Our Life/Health segment delivered profitable growth as we developed attractive solutions to protect our customers from the effects of inflation on their savings, and in our Asset Management business we achieved robust net inflows in a volatile capital market environment.
The discipline of our strategy, execution, and capital management bolsters our operating profit outlook for 2024, our new dividend policy, and our renewed share buy-back program. In the coming year, we will continue to focus on unlocking the benefits of our scale to further increase our productivity, and on converting our excellent customer experience into profitable customer growth.”
- Oliver Bäte, Chief Executive Officer of Allianz SE
