Allianz SE (OTCPK:ALIZF)

$ 288.92 -5.78 (-1.96%) Market Cap: 110.76 Bil Enterprise Value: 132.30 Bil PE Ratio: 12.49 PB Ratio: 1.81 GF Score: 76/100

Q3 2023 Allianz SE Earnings Press Conference Transcript

Nov 10, 2023 / 10:00AM GMT

Release Date Price: $238 (+3.01%)

Transcript

Holger Klotz

Good morning, everyone, and welcome to Allianz third quarter results web audio conference. As usual, our CFO, Giulio Terzariol, will guide you through the quarterly results, and we'll then take your questions.

I hereby hand over to Giulio, please.

Giulio Terzariol

Allianz SE - CFO & Member of the Management Board

Thank you, Holger, and good morning to everybody. Welcome to the call for the third quarter results of Allianz. As always, going to page 3. I'm going to start from the 9 months result first. And as you see, we have a strong set of results with a growth of 7%, which is driven by the property casualty segment. So here, you can see our continued effort to react to the inflation that we have been seeing. And also, we see growth on this basis in the Life and Health Insurance segment. The operating profit is at EUR 11 billion, which is about 4% higher compared to the operating profit of last year. And also it's ahead of our expectation.

When we look at the segment in the Property Casualty segment, we have a EUR 5.3 billion of

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