A disappointing third quarter of 2015 for Allianz

After a very good 2015 first half, Allianz recorded a decline in its results in the third quarter. The turnover fell by 4.3% to 27.5 billion EUR (30.92 billion USD). The operating result and profit of the company are also sharply decreasing. They respectively showed a decline of 7.5% to 2.75 billion USD and 15.4% to 1.53 billion USD. This deterioration is partly due to the drop in Property & Casualty whose combined ratio deteriorated by 0.6% to reach 94.1%.

Despite this poor third quarter, Allianz confirms its forecast for the year 2015. The turnover for the combined first three quarters rose by 3.5% at 107.38 billion USD. The operating profit remained stable at 9.16 billion USD. The German insurer seeks an operating profit between 11.24 and 12.14 billion USD for the whole exercise 2015.