Allianz Reports Record Profits in 2024 as Premiums Surge

The insurance giant announces increased dividends and a major share buyback, while customers face steep price hikes across services.

Allianz achieved a record operating profit of €16 billion in 2024, marking a 9% increase from the previous year.
Shareholders will benefit from an 11.6% dividend increase to €15.40 per share and a €2 billion share buyback program.
The company attributes rising customer premiums, particularly in auto and property insurance, to inflation, higher repair costs, and climate-related damages.
CEO Oliver Bäte highlighted cost-saving measures like repair shop agreements and telemedicine as ways to manage expenses and improve services.
Despite financial success, Allianz acknowledges the strain on customers and is exploring strategies to make insurance more affordable and sustainable.