Allianz Seguros in Spain, which groups Allianz Seguros, Allianz Investment Solutions, and BBVA Allianz Seguros, recorded an operating result of 154 million euros in the first half of 2026, representing an increase of 45.6% compared to the same period of the previous year, thanks to an improvement in business profitability, as detailed by the entity in a statement.
The Non-Life segment consolidated as the main driver of this evolution in the first six months of the fiscal year, combining an improvement in technical profitability with an increase in premiums. In total, Non-Life premiums amounted to 1.865 billion euros, 3.7% more year-on-year.
By segments, products aimed at individuals increased by 5%, reaching 501 million euros in premiums. Meanwhile, Auto premiums grew by 3.1%, to 993 million euros, while the Corporate business reached 371 million euros, 3.2% more than in the same period of the previous year.
The improvement in the business was accompanied by a decrease in the combined ratio, which stood at 94%, compared to the 96.6% recorded in the first half of 2025. This drop of 2.6 percentage points highlights the strengthening of technical profitability. In this regard, the insurer indicated that the evolution was mainly supported by "the favorable behavior of claims in the Auto and Corporate businesses."
Additionally, the company emphasized that the strength of the operating result allowed the group to absorb the impact derived from the meteorological episodes recorded during the first quarter of the year.
Positive evolution of the Life business
The Life segment also experienced favorable behavior in terms of business volume between January and June, driven by the dynamism of "Unit Linked" solutions and "Asset Management," which compensated for the slight decline observed in savings products. Thus, the operating result of the Life business reached 23 million euros in the first half of the year.
"We closed a very positive first half of the year, with a significant improvement in profitability and solid business growth. These results confirm the strength of Allianz Spain and our ability to generate sustainable value for our clients, even in a demanding environment. At the same time, we are preparing for the last part of the year by investing in prevention and customer experience," highlighted the CEO of Allianz Spain, Veit Stutz.