Allianz Q3 2018 results posted a net profit attributable to shareholders of €1.93bn ($2.17bn) for the third quarter of 2018, a 24% jump compared to €1.56bn a year earlier.
Diluted earnings per share were €4.54, as against €3.52 in the previous year.
The firm’s operating profit for the quarter ended 30 September 2018 was €2.98bn, up 21% from €2.47bn in the same period last year.
Total revenues at the firm were €30.5bn, an increase of 8% on a year-on-year basis.
Third-party assets under management totalled €1.48 trillion at the end of September 2018.
Why did we get these Allianz Q3 2018 results?
The rise in profit at the group is said to be driven by its property-casualty business. In this segment, operating profit surged 45% year-on-year to €1.5bn.
Allianz CFO Giulio Terzariol said: “Our property-casualty business had a successful third quarter of 2018 supported by strong results in our core markets.”
Compared to last year, asset management segment’s operating profit rose 11% to €650m whereas the life/health segment’s profit dropped slightly to €1.05bn.
Allianz CEO Oliver Bäte said: “During the first nine months of 2018 Allianz showed a strong performance across the board, now also supported by substantial productivity gains.
“Especially in challenging times, customers are looking for a financially solid partner for their insurance and investment needs. Allianz has been that reliable partner year after year. And we are very confident to reach our targets also for this year.”