The German insurer's net result recorded an increase of 23.6% in the third quarter of 2018. It reached 1.94 billion EUR (2.2 billion USD) and exceeded the analysts ' estimates of 1.88 billion EUR (2.18 billion USD)
Thanks to this performance, the result of the first nine months of 2018 amounted to 5.77 billion EUR (6.69 billion USD), representing a growth of 7.2% compared to the same period of 2017.
These good results are accounted for by the decrease in claims related to natural disasters and by a strong premiums' growth. The combined ratio reached 99.8% against 103.5% for the same period of 2017, a result consistent with the company's objective according to Giulio Terzariol, CFO of Allianz.
The German giant is currently conducting a strategy review of its property and casulaty business. This review whose results will be revealed at the end of this month, should not lead to major restructurings according to the executives.