Allianz raises profit outlook's upper end after record nine months
The insurer lifted the top of its 2026 operating-profit target to about EUR18.6 billion, while quarterly property-casualty profit fell.
Allianz raised the upper end of its full-year operating-profit target to around EUR18.6 billion on Thursday after reporting record operating profit for the first nine months of 2026.
Third-quarter operating profit increased 6.2% to EUR4.71 billion, taking the nine-month total to EUR14.10 billion, up 7.8%. The outlook change concerns the top of the target range, not a guarantee that the company will earn EUR18.6 billion.
Asset management supplied a strong offset to weaker property-casualty earnings. Quarterly asset-management operating profit rose 35.1% to about EUR1.12 billion, while property-casualty operating profit fell 7.9% to about EUR2.20 billion as natural-catastrophe losses weighed on the business.
Shareholders' core net income rose 1.2% to EUR2.89 billion in the quarter. That company-defined core measure differs from net income attributable to shareholders, which fell 2.2% to about EUR2.78 billion. The distinction matters: stronger operating and core results did not mean every profit measure increased.
