Allianz reported mixed second-quarter results, with group operating profit rising 10.6% to a record €4.874 billion as total business volume increased 5.7% on an internal basis to €45.6 billion, while net profit attributable to shareholders fell 8.7% year on year to €2.595 billion. The company said earlier that the decline in bottom-line profit reflected higher restructuring expenses tied to changes in its IT estate linked to AI-enabled workflows and solutions. For the first half of 2026, operating profit rose 8.6% to a record €9.39 billion, shareholders’ core net income increased 15.5% to €6.385 billion, core earnings per share climbed 17.5% to €16.44, and the Solvency II ratio improved to 225% from 218% at the end of 2025. Allianz said all three business segments contributed to internal growth, with Asset Management particularly strong, and it remains on track to meet its full-year operating profit outlook of €17.4 billion, plus or minus €1 billion. A share buyback program of up to €2.5 billion announced on February 25, 2026 is underway, with €1.4 billion completed in the first half.