{"id":4884,"date":"2026-05-13T10:20:00","date_gmt":"2026-05-13T08:20:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=c9eeebe2f00485a30c5901f5743edd37"},"modified":"2026-05-13T10:20:00","modified_gmt":"2026-05-13T08:20:00","slug":"allianz-delivers-record-operating-profit-in-strong-start-to-2026","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=4884","title":{"rendered":"Allianz Delivers Record Operating Profit in Strong Start to 2026"},"content":{"rendered":"<p>MUNICH--(BUSINESS WIRE)--<b>1Q 2026<\/b><\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802890\/5\/OliverBate_Photo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802890\/22\/OliverBate_Photo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802890\/5\/OliverBate_Photo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802890\/21\/OliverBate_Photo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802886\/4\/AZ_Logo_100.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802886\/22\/AZ_Logo_100.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802886\/4\/AZ_Logo_100.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260512320157\/en\/2802886\/21\/AZ_Logo_100.jpg\" \/><\/a><ul class=\"bwlistdisc\">\n<li>\n<b>Total business volume<\/b> at 53.0 billion euros, an internal growth of 3.5 percent<sup>1<\/sup>. This was driven by a strong development in Property-Casualty and Asset Management<\/li>\n<li>\n<b>Operating profit<\/b> rises 6.6 percent and reaches a record level of 4.5 billion euros<\/li>\n<li>\n<b>Shareholders\u2019 core net income<\/b> advances by 48.4 percent to 3.8 billion euros, impacted by the sale of the stakes in our Indian Joint Ventures. Underlying growth, which adjusts for the sale effects and offsetting measures, is strong at 7 percent<sup>2<\/sup><\/li>\n<li>\n<b>Core earnings per share<\/b> grow 50.7 percent and reach 9.96 euros. Adjusted for the above-mentioned effects, underlying growth is excellent at 9 percent <sup>2<\/sup><\/li>\n<li>\n<b>Annualized core RoE<\/b> at 24.2 percent, underlying level very strong at 18 percent <sup>2<\/sup><\/li>\n<li>\n<b>Solvency II<\/b> <b>ratio<\/b><sup>3<\/sup> increases by 2 percentage points to 221 percent<sup>4<\/sup>. Capital generation was strong<\/li>\n<\/ul><p>\n<b>Outlook &amp; other<\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nAllianz is on track to achieve its <b>full-year operating profit<\/b> <b>outlook<\/b> of 17.4 billion euros, plus or minus 1 billion euros<sup>5<\/sup><\/li>\n<li>\n<b>Share buy-back program<\/b> of up to 2.5 billion euros announced on February 25, 2026 underway; 0.3 billion euros completed in 1Q 2026<\/li>\n<\/ul><p>\n<b>CEO comment<\/b><\/p><p>\n\u201cAllianz delivered a record operating profit in the first quarter of 2026 \u2013 a testament to the strength of our fundamentals and the effectiveness of our customer-centered strategy.<\/p><p>\nWe remain disciplined in our delivery as we work to expand affordable protection and retirement for more people, harnessing the potential of AI to serve them in an even more efficient and personalized way.<\/p><p>\nBy rigorously combining technological advancements with our expertise and empathy to meet customer needs, we create a unique value proposition and opportunities for everyone who puts their trust into Allianz.\u201c<\/p><p>\n<b>- Oliver B\u00e4te, Chief Executive Officer of Allianz SE<\/b><\/p><p>\n<b>FINANCIAL HIGHLIGHTS<\/b><\/p><p>\n<b>Allianz Group: Strong start to 2026<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nKey performance indicator<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1Q 2026<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nChange vs\n<br\/>prior year<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTotal business volume (\u20ac bn); change shows internal growth<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n53.0<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3.5%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating profit (\u20ac mn)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,517<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6.6%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShareholders\u2019 core net income (\u20ac mn)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,785<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n48.4%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCore return on equity (annualized) (%) <sup>6<\/sup><\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n24.2<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6.1%-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSolvency II ratio (%) <sup>6<\/sup><\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n221<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2%-p<\/p><\/td><\/tr>\n<\/table><p>\n<b>CFO comment<\/b><\/p><p>\n\u201cAllianz\u2019s first-quarter performance reflects the quality of our diversified portfolio and the rigorous execution of our strategic priorities.<\/p><p>\nWe built on the momentum of an excellent 2025, achieving profitable growth and a record operating profit of 4.5 billion euros. These results demonstrate our ability to create sustainable value for our customers and shareholders, even in a demanding operating environment.<\/p><p>\nWe remain focused on the delivery of our ambitions and affirm our full-year outlook with confidence.\u201d<\/p><p>\n<b>- Claire-Marie Coste-Lepoutre, Chief Financial Officer of Allianz SE<\/b><\/p><p>\nOur total business volume amounted to 53.0 billion euros (1Q 2025: 54.0 billion euros). Internal growth, which excludes the effects of foreign-currency translation as well as acquisitions and divestments, was 3.5 percent. The Property-Casualty segment was the main contributor with strong business growth also in Asset Management.<\/p><p>\nOperating profit rose 6.6 percent to a record level of 4.5 (4.2) billion euros and reached 26 percent of our full-year outlook midpoint. This reflects a strong development of our Property-Casualty and Asset Management segments. The performance of our Life\/Health segment was resilient in a volatile market environment.<\/p><p>\nShareholders\u2019 core net income advanced 48.4 percent to 3.8 (2.6) billion euros. Adjusted for the effects of the sale of the stakes in our Indian Joint Ventures and offsetting measures, shareholders\u2019 core net income advanced strongly by 7 percent<sup>2<\/sup>, almost exclusively driven by a higher operating profit.<\/p><p>\nCore earnings per share (EPS)<sup>7<\/sup> amounted to 9.96 (6.61) euros, an increase of 50.7 percent. Adjusted for the above-mentioned effects, growth was excellent at 9 percent<sup>2<\/sup>, the top-end of our 7-9 percent CAGR target for the 2025-2027 strategic cycle.<\/p><p>\nAllianz delivered an annualized core return on equity (RoE)<sup>7<\/sup> of 24.2 percent in 1Q 2026 (12M 2025: 18.1 percent). Adjusted for the above-mentioned effects, our annualized core return on equity was at a very strong level of 18 percent<sup>2<\/sup>.<\/p><p>\nThis performance was achieved while we further strengthened our capitalization. Our Solvency II ratio reached 221 percent, an increase of 2 percentage points compared to full-year 2025 (218 percent), supported by strong capital generation.<\/p><p>\n<b>Outlook<\/b><\/p><p>\nAllianz is on track to achieve its full-year outlook of an operating profit of 17.4 billion euros, plus or minus 1 billion euros.<\/p><p>\n<b>Other<\/b><\/p><p>\nThe share buy-back program of up to 2.5 billion euros, announced on February 25, 2026, is underway and 0.3 billion euros were completed in the first three months of 2026.<\/p><p>\n<b>Property-Casualty insurance: Another record performance<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwwidth52 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nKey performance indicator<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth21 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1Q 2026<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwwidth21 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nChange vs\n<br\/>prior year<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTotal business volume (\u20ac bn); change shows internal growth<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n28.3<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6.8%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating profit (\u20ac mn)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,411<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n11.1%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCombined ratio (%)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n91.0<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.9%-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLoss ratio (%)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n67.3<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.4%-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nExpense ratio (%)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n23.7<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.5%-p<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwtopsingle bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Core messages Property-Casualty insurance 1Q 2026<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nSustained strong internal growth, in particular in retail<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nHighest quarterly operating profit ever, reaching 27 percent of our full-year outlook midpoint<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwsinglebottom bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nCombined ratio excellent; strong underwriting performance and very good expense ratio<\/li>\n<\/ul>\n<\/td><\/tr>\n<\/table><p>\nIn <b>1Q 2026<\/b>,<b> <\/b>total business volume reached 28.3 (1Q 2025: 27.0) billion euros. Internal growth was strong at 6.8 percent, sustaining the good momentum from last year. Allianz maintained a successful balance of growing its business while keeping underwriting discipline.<\/p><p>\nThe record operating profit of 2.4 (2.2) billion euros marked a successful start to the year, reaching 27 percent of our full-year outlook midpoint. Operating profit advanced 11.1 percent, entirely driven by a higher insurance service result.<\/p><p>\nThe combined ratio improved to an excellent level of 91.0 percent (91.8 percent), ahead of our full-year outlook of 92 to 93 percent. This development was supported by the loss ratio and expense ratio.<\/p><p>\nThe loss ratio was at a strong level of 67.3 percent (67.7 percent), an improvement of 0.4 percentage points. The expense ratio developed favorably by 0.5 percentage points to 23.7 percent, reflecting top-line growth and productivity gains.<\/p><p>\nThe retail<sup>8<\/sup> business sustained its momentum and delivered strong internal growth of 8 percent. The segment\u2019s combined ratio further improved to 91.4 percent (91.8 percent).<\/p><p>\nIn the commercial<sup>9<\/sup> business, internal growth of 6 percent was good. The segment achieved an excellent combined ratio of 90.3 percent (91.7 percent).<\/p><p>\n<b>Life\/Health insurance: Resilient performance<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwwidth52 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nKey performance indicator<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth21 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1Q 2026<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwwidth21 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nChange vs\n<br\/>prior year<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPVNBP (\u20ac mn)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n23,727<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-9.1%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNew business margin (%)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5.3<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.2%-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nVNB (\u20ac mn)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,260<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-12.5%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating profit (\u20ac mn)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,354<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-5.1%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContractual Service Margin (\u20ac bn, eop)<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n55.4<\/p><\/td><td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.7% <sup>10<\/sup><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwtopsingle bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Core messages Life\/Health insurance 1Q 2026<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nValue of new business at a good level of 1.3 billion euros, with a high-quality business mix<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nNew business margin of 5.3 percent above our ambition level of at least 5 percent<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwsinglebottom bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nOperating profit of 1.4 billion euros resilient in a volatile environment<\/li>\n<\/ul>\n<\/td><\/tr>\n<\/table><p>\nIn <b>1Q 2026<\/b>, PVNBP, the present value of new business premiums, amounted to a good level of 23.7 (1Q 2025: 26.1) billion euros. Adjusted for foreign currency translation effects and the sale of our stake in UniCredit Allianz Vita, PVNBP reduced only marginally \u2013 by 1 percent \u2013 from an exceptionally strong prior year level. 91 percent (91 percent) of our new business was generated in our preferred lines of business (capital-efficient products, unit-linked without guarantees, protection &amp; health).<\/p><p>\nThe new business margin (NBM) was healthy at 5.3 percent (5.5 percent), ahead of our ambition level of at least 5 percent. The value of new business (VNB) reached a good level of 1.3 (1.4) billion euros. Adjusted for foreign currency translation effects, the sale of our stake in UniCredit Allianz Vita, and exceptional large contracts in Germany in the prior year quarter, VNB remained broadly stable<i>.<\/i><\/p><p>\nOperating profit remained resilient at 1.4 (1.4) billion euros in a volatile operating environment. Adjusted for foreign currency translation effects as well as the sale of the stakes in our Indian Joint Ventures and in UniCredit Allianz Vita, operating profit was up 3 percent.<\/p><p>\nThe Contractual Service Margin (CSM) was 55.4 (12M 2025: 55.7) billion euros. Normalized CSM growth was 1.7 percent, supporting our full-year expectations of around 5 percent.<\/p><p>\n<b>Asset Management: Excellent organic growth with record 1Q inflows<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nKey performance indicator<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1Q 2026<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nChange vs\n<br\/>prior year<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating revenues (\u20ac bn); change shows internal growth<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.2<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n12.7%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating profit (\u20ac mn)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n857<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5.8%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCost-income ratio (%)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n60.4<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.9%-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nThird-party net flows (\u20ac bn)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n45.2<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n57.6%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nThird-party assets under management (\u20ac bn)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,043<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6.7%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth52\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAverage third-party assets under management (\u20ac bn)<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,041<\/p><\/td><td class=\"bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5.1%<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwtopsingle bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Core messages Asset Management 1Q 2026<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nAssets under management (AUM)-driven revenues grow by 11 percent (F\/X adjusted)<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nOperating profit increases by 15 percent (F\/X adjusted)<\/li>\n<\/ul>\n<\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwleftsingle bwrightsingle bwsinglebottom bwwidth100\" colspan=\"1\" rowspan=\"1\"><ul class=\"bwlistdisc\">\n<li>\nRecord first quarter net inflows of 45 billion euros<\/li>\n<\/ul>\n<\/td><\/tr>\n<\/table><p>\nIn<b> 1Q 2026<\/b>, operating revenues increased to 2.2 billion euros, an internal growth of 12.7 percent. This was supported by higher AuM-driven revenues, which advanced by 11.1 percent (F\/X adjusted), as well as by higher performance fees.<\/p><p>\nOperating profit was strong at 857 (1Q 2025: 811) million euros, up 5.8 percent. Adjusted for foreign currency translation effects, operating profit increased by 15.0 percent. The cost-income ratio (CIR) improved to a very good level of 60.4 percent (61.3 percent), which is ahead of our full-year ambition of less than 61 percent. This development reflects sustained top-line momentum and management actions.<\/p><p>\nThird-party assets under management reached a record level of 2.043 trillion euros as of March 31, 2026 (4Q 2025: 1.990 trillion euros; 1Q 2025: 1.914 trillion euros). Very strong net inflows of 45 billion euros were the main contributor. Average third-party assets under management increased to 2.041 trillion euros, 5.1 percent above 1Q 2025.<\/p><p>\n<b>FOOTNOTES<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwalignl bwvertalignt bwtopsingle\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>1<\/sup><\/p><\/td><td class=\"bwtopsingle\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTotal growth -1.8 percent in 1Q 26.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>2<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAdjusted for sale of stakes in Indian JVs (net income impact: -0.1 billion euros tax provision in 1Q 25 and 1.1 billion euros gain in 1Q 26) and offsetting measures (net income impact: -0.15 billion euros in 1Q 26).<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<sup>3<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSolvency II ratio \/ Solvency II capitalization ratio: ratio that expresses the capital adequacy of a company by comparing own funds to SCR. This applies to all information related to the Solvency II ratio in this document.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<sup>4<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBased on quarterly dividend accrual; additional accrual to reflect FY dividend would impact Solvency II capitalization ratio by -11%-p as of March 31, 2026. This applies to all information regarding the Solvency II capitalization ratio in this document.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<sup>5<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAs always, natural catastrophes and adverse developments in the capital markets, as well as factors stated in our cautionary note regarding forward-looking statements may severely affect the operating profit and\/or net income of our operations and the results of the Allianz Group.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<sup>6<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nChange versus full-year 2025.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>7<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCore EPS and core RoE calculation based on shareholders\u2018 core net income.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>8<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRetail including SME and Fleet. This applies to all information related to retail in this document.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>9<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCommercial including large Corporate, MidCorp, credit insurance, internal and 3rd party R\/I. This applies to all information related to commercial in this document.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadr0 bwalignl bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<sup>10<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNormalized CSM growth compared to December 31, 2025.<\/p><\/td><\/tr>\n<\/table><p>\n<b>1Q 2026 RESULTS TABLE<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Allianz Group - key figures 1st quarter 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n1Q 2026<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n1Q 2025<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\nDelta<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total business volume<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac bn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>53.0<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>54.0<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>-1.8%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Property-Casualty<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac bn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n28.3<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n27.0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n4.9%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Life\/Health<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac bn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n22.6<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n25.0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-9.6%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Asset Management<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac bn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n2.2<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n2.1<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n3.5%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl3\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Consolidation<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac bn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-0.1<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-0.1<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n4.1%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Operating profit \/ loss<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac mn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>4,517<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>4,238<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>6.6%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Property-Casualty<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n2,411<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n2,170<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n11.1%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Life\/Health<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n1,354<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n1,427<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-5.1%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Asset Management<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n857<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n811<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n5.8%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Corporate and Other<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-114<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-165<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-30.9%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Consolidation<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n8<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-4<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\nn.m.<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net income<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac mn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>3,846<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>2,581<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>49.0%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl3\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- attributable to non-controlling interests<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n156<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n158<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-1.3%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl3\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- attributable to shareholders<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u20ac mn<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n3,690<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n2,423<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n52.3%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Shareholders\u2019 core net income<sup>1<\/sup><\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac mn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>3,785<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>2,550<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>48.4%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Core earnings per share<sup>2<\/sup><\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>9.96<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>6.61<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>50.7%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Additional KPIs<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Group<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCore return on equity<sup>3<\/sup><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n24.2%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n18.1%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n6.1%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Property-Casualty<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCombined ratio<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n91.0%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n91.8%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-0.9%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Life\/Health<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNew business margin<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n5.3%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n5.5%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-0.2%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwwidth31 bwpadl3\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Asset Management<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCost-income ratio<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n60.4%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n61.3%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-0.9%<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n-p<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n03\/31\/2026<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n12\/31\/2025<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\nDelta<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Shareholders' equity<sup>4<\/sup><\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac bn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>65.9<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>62.7<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>5.1%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Contractual service margin (net)<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac bn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>34.9<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>35.4<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>-1.3%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Solvency II capitalization ratio<sup>5<\/sup><\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>221%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>218%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>2%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>-p<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Third-party assets under management<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>\u20ac bn<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>2,043<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>1,990<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignl bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwvertalignt bwalignl bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignl\">\n<b>2.6%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Please note: <\/b>The figures are presented in millions of Euros, unless otherwise stated. Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n1_<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPresents the portion of shareholders\u2019 net income before non-operating market movements and before amortization of intangible assets from business combinations (including any related income tax effects).<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n2_<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCalculated by dividing the respective period\u2019s shareholders' core net income, adjusted for net financial charges related to undated subordinated bonds classified as shareholders' equity, by the weighted average number of shares outstanding (basic core EPS).<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n3_<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRepresents the annualized ratio of shareholders\u2019 core net income to the average shareholders\u2019 equity at the beginning and at the end of the period. Shareholders\u2019 core net income is adjusted for net financial charges related to undated subordinated bonds classified as shareholders\u2019 equity. From the average shareholders\u2019 equity, undated subordinated bonds classified as shareholders\u2019 equity, unrealized gains and losses from insurance contracts and other unrealized gains and losses are excluded. Annualized figures are not a forecast for full year numbers. For 1Q 2025, the core return on equity for the respective full year is shown.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n4_<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nExcluding non-controlling interests.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth31\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n5_<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0\" colspan=\"11\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRisk capital figures are group diversified at 99.5% confidence level. Solvency II capitalization ratio is based on quarterly dividend accrual; additional accrual to reflect FY dividend would impact solvency II capitalization ratio by -11%-p as of 31 March 2026.<\/p><\/td><\/tr>\n<\/table><p>\n<b>RATING<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Ratings<sup>1<\/sup><\/b><\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>S&amp;P Global<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Moody\u2019s<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>A.M. Best<sup>2<\/sup><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInsurer financial strength rating<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAA | stable outlook<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAa2 | stable outlook<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nA+ | stable outlook<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCounterparty credit rating<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAA | stable outlook<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNot rated<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\naa<sup>3<\/sup> | stable<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSenior unsecured debt rating<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAA<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAa2 | stable outlook<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\naa | stable<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSubordinated debt rating<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nA+\/A<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nA1\/A3<sup>4<\/sup> | stable outlook<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\naa- \/ a+ | stable<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCommercial paper (short term) rating<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nA-1+<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth24\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPrime-1<\/p><\/td><td class=\"bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNot rated<\/p><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<sup>1<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIncludes ratings for securities issued by Allianz Finance II B.V. and Allianz Finance Corporation.<\/p><\/td><\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<sup>2<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nA.M. Best's Rating Reports reproduced on <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.allianz.com&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=www.allianz.com&amp;index=1&amp;md5=9fec4f3d3d44961895e78beed1b01ff8\" rel=\"nofollow\" shape=\"rect\">www.allianz.com<\/a> appear under licence from A.M. Best Company and do not constitute, either expressly or implicitly, an endorsement of Allianz's products or services. A.M. Best's Rating Reports are the copyright of A.M. Best Company and may not be reproduced or distributed without the express written consent of A.M. Best Company. Visitors to <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.allianz.com&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=www.allianz.com&amp;index=2&amp;md5=7ffb4e80ad4c07bfb0987dbf358d525c\" rel=\"nofollow\" shape=\"rect\">www.allianz.com<\/a> are authorised to print a single copy of the rating report displayed there for their own use. Any other printing, copying or distribution is strictly prohibited. A.M. Best's ratings are under continual review and subject to change or affirmation. To confirm the current rating visit <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=www.ambest.com&amp;index=3&amp;md5=aa53a3e1a9a63e9d132eea6901761717\" rel=\"nofollow\" shape=\"rect\">www.ambest.com<\/a>.<\/p><\/td><\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<sup>3<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIssuer credit rating.<\/p><\/td><\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<sup>4<\/sup><\/p><\/td><td colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFinal ratings vary on the basis of the terms.<\/p><\/td><\/tr>\n<\/table><p>\n<b>Related links<\/b><\/p><p>\n<b>Media Conference\n<br\/><\/b><b>May 13, 2026, 9:30 AM CEST: <\/b><a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.youtube.com%2Flive%2FOTL5-KZ3QTw&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=YouTube+%28English+language%29&amp;index=4&amp;md5=165ef95d9f06151d3afc02529c5a9bf5\" rel=\"nofollow\" shape=\"rect\"><b>YouTube (English language)<\/b><\/a><\/p><p>\n<b>Analyst Conference\n<br\/><\/b><b>May 13, 2026, 2:30 PM CEST: <\/b><a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DtmFWmENnZiM&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=YouTube+%28English+language%29&amp;index=5&amp;md5=ef5ff155b68df4b7b8d2ed5da51516fe\" rel=\"nofollow\" shape=\"rect\"><b>YouTube (English language)<\/b><\/a><\/p><p>\n<b>Results\n<br\/><\/b><b>The results and related documents can be found in the <\/b><a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.allianz.com%2Fen%2Finvestor_relations%2Fresults-reports%2Fresults.html&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=download+center&amp;index=6&amp;md5=6d91830a426561af1efab82f2012b2fe\" rel=\"nofollow\" shape=\"rect\"><b>download center<\/b><\/a><b>.<\/b><\/p><p>\n<b>Upcoming events<\/b><\/p><p>\nFinancial Results 2Q &amp; 6M 2026\n<br\/><b>August 7, 2026<\/b><\/p><p>\nMore information can be found in the <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.allianz.com%2Fen%2Finvestor_relations%2Fconferences-presentations%2Ffinancial-calendar.html&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=financial+calendar&amp;index=7&amp;md5=086690314ab34633e51e82aacf615f2f\" rel=\"nofollow\" shape=\"rect\"><b>financial calendar<\/b><\/a>.<\/p><p>\n<b>About Allianz<\/b><\/p><p>\nThe Allianz Group is one of the world\u2019s leading insurers and asset managers, active in almost 70 countries and serving around 97 million private and corporate customers*. Our customers benefit from a broad range of personal and corporate insurance services, including property, life and health insurance, as well as assistance services, credit and global business insurance. Recognized for the seventh consecutive year as the number one global insurance brand in Interbrand\u2019s Best Global Brands 2025 ranking, Allianz\u2019s success is built on technology-enabled customer centricity \u2013 providing peace of mind, protection, and prevention for our customers and strengthening the resilience of individuals, communities, and societies. We are one of the world\u2019s largest investors, managing around 770 billion euros** on behalf of our insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 2.0 trillion euros** of third-party assets. Thanks to our systematic integration of environmental and social criteria in our business processes and investment decisions, Allianz received an MSCI ESG Rating of AAA (as of March 2026). In 2025, our 156,000 dedicated employees achieved a total business volume of 186.9 billion euros and an operating profit of 17.4 billion euros for our shareholders.<\/p><p>\n* As of December 31, 2025. Customer count reflects Allianz customers in consolidated entities that are part of the customer reporting scope only.<\/p><p>\n** As of March 31, 2026.<\/p><p>\nThese assessments are, as always, subject to the disclaimer provided below.<\/p><p>\n<b>Cautionary note regarding forward-looking statements<\/b><\/p><p>\nThis document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.<\/p><p>\nDeviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz\u2019s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR\/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and\/or global level. Many of these changes can be exacerbated by terrorist activities.<\/p><p>\n<b>No duty to update<\/b><\/p><p>\nAllianz assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.<\/p><p>\n<b>Other<\/b><\/p><p>\nThe figures regarding the net assets, financial position and results of operations have been prepared in conformity with International Financial Reporting Standards. This Quarterly Earnings Release is not an Interim Financial Report within the meaning of International Accounting Standard (IAS) 34. This is a translation of the German Quarterly Earnings Release of the Allianz Group. In case of any divergences, the German original is binding.<\/p><p>\n<b>Privacy Note<\/b><\/p><p>\nAllianz SE is committed to protecting your personal data. Find out more in our <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.allianz.com%2Fen%2Fprivacy-statement.html&amp;esheet=54534211&amp;newsitemid=20260512320157&amp;lan=en-US&amp;anchor=privacy+statement&amp;index=8&amp;md5=76184196281942a932c6869a588d4884\" rel=\"nofollow\" shape=\"rect\"><b>privacy statement<\/b><\/a>.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nMedia contacts\n<br\/>Frank Stoffel Tel. +49 160 9011 5157 e-mail: <a  href=\"mailto:frank.stoffel@allianz.com\" rel=\"nofollow\" shape=\"rect\">frank.stoffel@allianz.com<\/a><br\/>Ann-Kristin Manno Tel. +49 151 2990 1517 e-mail: <a  href=\"mailto:ann-kristin.manno@allianz.com\" rel=\"nofollow\" shape=\"rect\">ann-kristin.manno@allianz.com<\/a><br\/>Johanna Oltmann Tel. +49 151 1164 6551 e-mail: <a  href=\"mailto:johanna.oltmann@allianz.com\" rel=\"nofollow\" shape=\"rect\">johanna.oltmann@allianz.com<\/a><br\/>Fabrizio Tolotti Tel. +49 151 5995 6396 e-mail: <a  href=\"mailto:fabrizio.tolotti@allianz.com\" rel=\"nofollow\" shape=\"rect\">fabrizio.tolotti@allianz.com<\/a><\/p><p>\nInvestor Relations contacts\n<br\/>Andrew Ritchie Tel. +49 89 3800 3963 e-mail: <a  href=\"mailto:andrew.ritchie@allianz.com\" rel=\"nofollow\" shape=\"rect\">andrew.ritchie@allianz.com<\/a><br\/>Reinhard Lahusen Tel. +49 89 3800 17224 e-mail: <a  href=\"mailto:reinhard.lahusen@allianz.com\" rel=\"nofollow\" shape=\"rect\">reinhard.lahusen@allianz.com<\/a><br\/>Christian Lamprecht Tel. +49 89 3800 3892 e-mail: <a  href=\"mailto:christian.lamprecht@allianz.com\" rel=\"nofollow\" shape=\"rect\">christian.lamprecht@allianz.com<\/a><br\/>Tobias Rupp Tel. +49 89 3800 7151 e-mail: <a  href=\"mailto:tobias.rupp@allianz.com\" rel=\"nofollow\" shape=\"rect\">tobias.rupp@allianz.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>MUNICH&#8211;(BUSINESS WIRE)&#8211;1Q 2026<\/p>\n<p>Total business volume at 53.0 billion euros, an internal growth of 3.5 percent1. This was driven by a strong development in Property-Casualty and Asset Management<\/p>\n<p>Operating profit rises 6.6 percent and reaches a recor&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4884","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/4884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4884"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/4884\/revisions"}],"predecessor-version":[{"id":4885,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/4884\/revisions\/4885"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}