MADRID, 10 Nov. (EUROPA PRESS) -

The German insurer Allianz obtained an attributable net profit of 6,390 million euros in the first nine months of 2023, which represents an advance of 20.2% compared to its result for the same period of 2022, as reported by the entity.

However, the German company highlighted that its third quarter accounts reflected a 29.5% drop in attributable net profit, to 2,021 million euros, due to the lower operating result of insurance services in the non-life segment by "a exceptionally high level of claims from natural disasters".

Allianz's turnover between January and September stood at 122,106 million euros, 4.7% below the figure for the same period in 2022, with an increase of 2% in income in the life segment and 8 .7% in non-life, while the asset management business fell 5.9%.

In the third quarter of the year, the insurer's income increased by 4.5%, to 36,517 million euros, after income from the life segment grew by 3.7% and those from the insurance area by 6.1%. non-life, while asset management decreased by 2.7%.

"In the first nine months of this year, we have seen solid growth in our turnover, operating profit and core net profit," said Oliver Bäte, CEO of Allianz.

In this way, the executive advanced that the focus on execution and operational efficiency is allowing profitable growth with healthy margins, which places Allianz "on an excellent trajectory to achieve its objectives."

"We confidently confirm our operating profit target of €14.2 billion, plus or minus €1 billion," he added.