Allianz Se Unsp/Adr (ALIZY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Allianz's first quarter 2026 media conference call. Thank you very much for joining us today. My name is Frank Stoffel, Head of Financial Communications and Valuation Relations, and I'm speaking to you from our headquarters here in Munich. I am joined today by our Chief Financial Officer, Claire Marie Coste-Poutre. Before going into the presentation, let me briefly cover the usual housekeeping items. We will answer all questions in English. However, if you feel more comfortable asking your question in German, please feel free to do so. We will then repeat the question in English for everyone else on the call. If you want to ask a question during the Q&A session, press star 5 if you have joined via telephone or press the talk request button on the web audio call. If you are on an IP-based telephone, this may cause technical problems for you. If this is the case, please email media.contact at allianz.com, and we can assist you with your setup. Or we can take your question and ask it on your behalf. Today's conference call is scheduled for 60 minutes, and as usual, we will answer your questions following our presentation by our CFO. With this, it is my pleasure to hand over to Claire Marie. Thank you very much, Franck, and good morning, everyone. Let me start with an overview of the group results for the first quarter of 2026. So the overall picture from my perspective is one of a strong start to the year, which allows to reaffirm our full year outlook of an operating profit of 17.4 billion plus minus 1 billion euros. We can confidently do so despite an elevated market volatility and a more uncertain macro environment. Across our three strategic levers, growth, productivity, and resilience, we continue to execute with discipline an...