Solvency II ratio (%)















218









10%-p










CFO comment

“We had an excellent start into our new strategic cycle. Our performance highlights the strength and resilience of Allianz’s business model.

Allianz’s record results for 2025 are characterized by very good growth across our segments and excellent profitability, while we further enhanced our financial strength. This demonstrates our ability to create sustainable value for our customers and shareholders alike.

As we pursue our 2026 target of an operating profit of 17.4 billion euros, plus or minus 1 billion euros, we continue the focused execution of our strategic Capital Ma
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