Allianz SE posted a record Q1 2026 operating profit of €4.52 billion, 4% above the €4.36 billion consensus for the quarter.
Property‑casualty profit rose 11.1% YoY to €2.41 billion, driven by 3.3% price and 3.1% volume growth; combined ratio improved to 91%.
Life/health profit fell 5.1% to €1.35 billion, missing estimates; new business value €1.26 billion, 9% below consensus due to UniCredit JV exit.
Shareholders’ core net income jumped 48.4% to €3.79 billion; buyback programme of €2.5 billion underway with €300 million completed in Q1.