Total revenues of 41.4 billion euros, adjusted for currency and consolidation effects, flat compared to prior year level
1Q 2021 operating profit up 44.8 percent to 3.3 billion euros
1Q 2021 net income attributable to shareholders increased 83.4 percent to 2.6 billion euros
Solvency II capitalization ratio of 210 percent1
2021 operating profit target confirmed at 12.0 billion euros, plus or minus 1 billion euros
Allianz Global Corporate & Specialty (AGCS) gross premium written decreased by €73 million to €2.938 billion (3M 2020: €3.011 billion). Positive impact from effective rate changes of 22% for renewal business across the portfolio was offset by underwriting actions targeting loss making accounts and segments
See attached release from Allianz Group and update from AGCS for more information.
Source: Allianz Global Corporate & Specialty (AGCS) Africa
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A method of calculating the unearned premium provision and earned premium revenue (for annual premiums when they are to be spread evenly over the policy term). This method assumes that all premiums are written in the middle of the month, with the result that in the first month, one twenty fourth of the premium is earned, in the second month, three twenty fourths is earned, and so on.