Allianz SE

Allianz also continues to strengthen its franchise on selected markets, which should add to overall business growth. Given the gradually improving operating environment for non-life retail lines, more ambitious new risk additions, some small bolt-on acquisitions, and continued modest growth in life insurance, under our base-case conditions we now expect Allianz's revenue growth will be 4%-8% over 2025-2027. The stable outlook reflects our view that Allianz's earnings will remain robust and resilient on the back of strong and diverse income streams from all businesses, including non-life, life, and asset management. Furthermore, we anticipate that, over the next two years, Allianz will maintain its excellent brand reputation. In our view, the group's financial profile will continue to benefit from very comfortable

...The group continued to display strong growth in both insurance and asset management business through 2024. Allianz insurance revenue grew by a strong 7% in 2024 to almost 97.7 billion, supported by both non-life and life insurance business. The retail insurance environment in Germany and some of the company's other key European insurance markets is gradually improving. We therefore think Allianz remains very well positioned to capitalize on its leading retail franchise, which should help to maintain growth momentum. We expect the group will continue to tap some growth opportunities in global lines, primarily through Allianz Commercial and Allianz Partners. Allianz also continues to strengthen its franchise on selected markets, which should add to overall business growth. Given the gradually improving operating environment for non-life retail lines, more ambitious new risk additions, some small bolt-on acquisitions, and continued modest growth in life insurance, under our base-case conditions...

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