- AGCS continued its growth in 2015, generating a premium income of €8.1 billion, exceeding the previous year by €2.7 billion.
- 2015’s combined ratio of 102.9% (2014: 94.8%) was impacted by the negative run-off effects from prior year underwriting, mainly related to reserve strengthening to parts of the legacy FFIC portfolio, despite solid performance from the active business which once again demonstrated the value of a globally diversified portfolio.
- Operating profit for 2015 totaled €423 million (2014: €506 million) supported by increased investment income from the combined asset base of AGCS and FFIC, and reflecting one-off effects such as the sale of FFIC’s Personal Insurance business and restructuring costs.
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About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.
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