Home Breadcrumb caret News Breadcrumb caret Risk Allianz Group reports combined ratio of 94.3% Allianz Group recently released its financial results for 2016, reporting a 0.3-point improvement to its combined ratio in property & casualty. The P&C combined ratio last year was 94.3% for Munich-based Allianz, compared to 94.6% in 2015 “due in part to lower claims from natural catastrophes,” the firm reported Feb. 16. The loss ratio was […] By Canadian Underwriter | February 22, 2017 | Last updated on October 30, 2024 2 min read Allianz Group recently released its financial results for 2016, reporting a 0.3-point improvement to its combined ratio in property & casualty. The P&C combined ratio last year was 94.3% for Munich-based Allianz, compared to 94.6% in 2015 “due in part to lower claims from natural catastrophes,” the firm reported Feb. 16. The loss ratio was 65.6% in 2016, compared to 66.2% in 2015. The natural catastrophe impact was 1.6 points in 2015 and 1.5 points in 2016. For the final quarter, the combined ratio was 94% in 2016, down 2.2 points from 96.2% in the last three months of 2015. This was due in part to “lower claims from natural catastrophes and large losses.” Gross premiums written rose 2.4% to 11.2 billion euros in the fourth quarter in the P&C segment, Allianz reported. “Adjusted for foreign exchange and consolidation effects, internal growth was 3.6 percent, driven by a positive volume effect of 2.0 percent and a positive price effect of 1.6 percent,” the insurer added of its Q4 2016 results compared to Q4 2015. For the full year, gross premiums written were 51.5 billion euros in 2016, essentially unchanged from 51.6 billion euros in 2015, Allianz said. Allianz’s operations include Allianz Global Corporate & Specialty (AGSC), which writes commercial insurance worldwide, including in Canada. AGCS North America writes property, casualty, financial lines, aviation, energy, marine, entertainment and mid-corporate risk. AGCS had a combined ratio of in 108.8% in the latest quarter, up from 5.3 points from 103.5% in Q4 2015. Allianz Group reported net income of 7.25 billion euros in 2016, compared to 6.987 billion euros in 2015. The firm reported net income of 1.826 billion euros in the latest quarter, compared to 1.5 billion euros in Q4 2015. Allianz subsidiaries in Canada include investment fund provider Pimco Canada Corp. and trade credit insurance company Euler Hermes. Canadian Underwriter Save Stroke 1 Print Group 8 Share LI logo