Allianz S.E. had internet revenue of €2.03 billion ($2.50 billion) within the first quarter of 2018, up 5.7% from the identical interval final yr, the German insurer mentioned in its earnings assertion Tuesday.
First-quarter income grew by zero.7% from a yr in the past to € 36.50 billion as property/casualty income rose 1.1% to €17.9 billion.
Gross property/casualty premiums written elevated by 1.1% p.c to €17.9 billion, the assertion mentioned.
“Premium revenue rose and the mixed ratio improved within the quarter, underscoring the well being of our property and casualty enterprise,” Giulio Terzariol, chief monetary officer of Allianz, mentioned within the assertion. “Our underwriting consequence strengthened on account of disciplined efforts to enhance technical excellence and productiveness.”
The corporate’s first-quarter property/casualty mixed ratio improved to 94.eight% from 95.6% a yr in the past.
“Allianz loved begin into 2018. We had will increase in each the highest and the underside strains, even when market volatility was seen at an working degree within the first quarter,” Allianz CEO Oliver Bäte mentioned within the assertion. “This good efficiency places Allianz on monitor to fulfill its 2018 yearly targets.”