Allianz: Q1 2023 results

As at 31 March 2023, Allianz has recorded a 3.9% increase in its turnover to 46 billion EUR (50 billion USD).

The net profit has jumped from 474 million EUR (527.8 million USD) in the first quarter of 2022 to 2.032 billion EUR (2.2 billion USD) twelve months later, showing a substantial progression of 329%.

The operating result has gone up by 24.2% over a year to 3.731 billion EUR (4.1 billion USD).

The German group has launched a 1.5 billion EUR (1.6 billion USD) share buy-back program which will start at the end of May 2023 and will be closed by 31 December of the current year.

By way of reminder, Allianz's Q1 2022 results had been impacted by the establishment of a provision related to a litigation involving the "Alpha" structured funds distributed by its asset management subsidiary Allianz Global Investors (USA).