Allianz (ALV) Q4 2025 (Media) earnings summary

Executive summary

• Achieved record revenue of €187 billion, up 8% year-over-year, with all segments contributing to growth.

• Operating profit rose 8% to €17.4 billion, exceeding outlook and Capital Markets Day targets.

• Core net income increased 11% to €11.1 billion; core EPS grew 13%, surpassing target range.

• Dividend per share proposed at €17.10, up 11%, and a €2.5 billion share buyback announced.

• Solvency II ratio reached 218%, a 10-point increase from prior year, reflecting strong capital position.

Financial highlights

• Revenue: €187 billion (+8% year-over-year); internal growth also 8%.

• Operating profit: €17.4 billion (+8% year-over-year; +11% excluding FX).

• Core net income: €11.1 billion (+11% year-over-year).

• Core EPS: +13% year-over-year, building on 12% growth in prior year.

• Return on equity: 18.1%, up 1.2 percentage points.

Outlook and guidance

• Confident in delivering on Capital Markets Day targets for 2026 and beyond.

• 2026 operating profit target set at €17.4 billion, plus or minus €1 billion.

• Outlook range for operating profit unchanged, allowing for market volatility and FX risks.

• IFRS gains from Bajaj JV disposal to be reinvested in productivity and higher-yielding bonds.

• Share buyback and dividend policy to continue supporting EPS growth.