Allianz Q4 Profit Climbs, Issues FY24 Profit View; Lifts Dividend; Plans EUR 1 Bln Share Buyback

(RTTNews) - German financial services major Allianz SE (ALIZY) reported Friday that its fourth-quarter net income attributable to shareholders surged 95 percent to 2.15 billion euros from last year's 1.10 billion euros.

Shareholders' core net income increased 46.4% to 2.35 billion euros from last year's 1.61 billion euros, due to a higher operating profit and non-operating result.

Core earnings per share were 6 euros, up 50.3 percent from 3.99 euros a year ago.

Operating profit was at 3.8 billion euros, up by 17 percent, driven by the Life/Health business segment, supported by solid results in all other business segments.

Total business volume rose 7.8 percent to 39.6 billion euros from 36.7 billion euros a year ago, driven by all business segments. Internal growth was 10.9 percent.

Further, the company said its nanagement will propose a dividend per share of 13.80 euros, an increase of 21.1 percent from 2022.

In addition, Allianz announced a renewed share buy-back program of up to 1 billion euros.

Looking ahead for fiscal 2024, the company projects operating profit at 14.8 billion euros, plus or minus 1 billion euros. In fiscal 2023, operating profit was 14.75 billion euros.

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