Allianz has upgraded its full-year earnings forecast after reporting a solid rise in operating profit over the first nine months of the year.
The German insurance group now expects operating profit in 2025 to fall between €17 billion and €17.5 billion.
This is an increase from its prior estimate of €16 billion, plus or minus €1 billion.
The company said the updated outlook assumes no major natural catastrophes or severe capital market disruptions in the coming months.
Allianz reported €13.1 billion in operating profit for the first nine months, up from €11.8 billion during the same period in the previous year.
The firm credited disciplined underwriting, strong performance across its business segments, and stable macroeconomic conditions for the improved results.
Outlook Supported by Strong Insurance and Asset Management Divisions
Executives at Allianz say they are confident in hitting the upgraded target thanks to momentum in both insurance and asset management operations.
The property and casualty division saw steady premium growth alongside improved cost controls.
Life and health insurance operations benefited from higher investment margins and lower-than-expected claims in several markets.
Meanwhile, Allianz Global Investors and PIMCO reported stable net inflows, helping reinforce the company’s overall performance.
The insurer has also continued to focus on simplifying its structure and reducing operational inefficiencies.
These efforts have supported higher profitability and improved capital reserves throughout the year.
The company is scheduled to release its third-quarter earnings on Friday.
Investors will be closely watching for any signs of changes in claims patterns, especially given rising climate-related weather events across Europe.
Allianz said that barring unforeseen shocks, it is “most likely” that full-year operating profit will hit the upper end of its guidance range.