Press release -
Allianz delivers strong full-year 2025 performance in the UK
Full year results for Allianz Group released today reveal revenues of £7.3bn across Allianz UK, Allianz Commercial, Allianz Trade and Allianz Partners.
12M 2025
- Allianz in the UK continues to grow across insurance businesses
- Overall UK total business volume rises 3.7% to £7.3bn
- Allianz UK reports 29.5% increase in operating profit to £476m
- Allianz UK improves combined operating ratio to 93.0%
Colm Holmes, Chief Executive Officer, Allianz UK said:
“I’m pleased with what Allianz UK has achieved in 2025, with revenue growth in all three lines of business – Commercial, Personal and Specialty.
“We also reduced our combined operating ratio (COR) by 2 percentage‑points, increased operating profit by almost 30% and improved productivity by 10%. All of which was delivered against a backdrop of soft market conditions and inflationary pressures. The results demonstrate our investment in transformation and digitalisation, focus on disciplined underwriting and service excellence.
“Our continued investment in technology, automation and AI also strengthened our performance. We’ve deployed AI and advanced analytics across underwriting, broker engagement and service operations, including end-to-end customer solutions, to improve decision‑making, speed, and efficiency. These capabilities are now being scaled across multiple business functions and, collectively, have the potential to deliver further significant uplifts in productivity.
“Specialty had a very strong year, further reinforcing our pet insurance business, Petplan, as an industry leader. Commercial traded well in a tough market, delivering growth in targeted mid‑market segments and benefiting from continued digitalisation to support our broker service. In Personal, new pricing optimisation tools and clearer product tiering increased customer choice and improved value for customers, delivering close to 3 percentage-point improvement to COR.
“Most importantly these results demonstrate the dedication of our people and the trust our customers and partners place in us. This is reflected in Allianz UK retaining Net Promoter Score (NPS) loyalty leadership across Personal, Commercial and Specialty.”
FINANCIAL HIGHLIGHTS
Allianz’s insurance businesses in the UK
| Total Business Volume | FY 2025 (£m) | FY 2024 (£m) | Variance | ||||
| Allianz UK | £4,643.9 | £4,658.7 | -0.3% | ||||
| Allianz Commercial (formerly AGCS), | £2,687.9 | £2,412.9 | 11.4% | ||||
| Total | £7,331.8 | £7,071.6 | 3.7% |
| Allianz UK (Holdings) | FY 2025 (£m) | FY 2024 (£m) | Variance | ||||
| Operating Profit | £476.2 | £367.8 | 29.5% | ||||
| Total Business Volume | £4,643.9 | £4,658.7 | -0.3% | ||||
| Combined Operating Ratio | 93.0% | 95.0% | 2pp |
Segmental Highlights
Allianz UK Commercial
- Agility in in pricing and strong trading partnerships ensured that Allianz Commercial performed confidently in 2025 with an 11.9% increase in operating profit and further 1.3 pp reduction in COR to 94.1%. Clear appetite articulation has driven success across Commercial with Mid-Market cross selling nearly doubled from 2024.
- Allianz Commercial’s unwavering commitment to service excellence and digital advancement is transforming broker interactions and driving significant efficiency improvements making life easier for customers, partners, and suppliers.
- During 2026 Allianz Commercial will continue with the exciting roll out of the transformation programme, concentrate on disciplined underwriting, and strengthen broker partnerships with an ongoing ambition to be the easiest insurer to deal with.
Allianz UK Personal
- Allianz Personal’s growth and expansion agenda delivered an impressive 69.2% increase in operating profit and a 2.7pp improvement in COR to 94.5% during 2025.
- The dual focus on disciplined pricing and investment in technology has streamlined the customer journey across personal lines products offering customers more choice and faster service. Investment in the Allianz brand and the announcements of high-profile partnerships has driven awareness and retention.
- In recognition of changing customer demands the business will continue to embrace digital solutions and invest in data and pricing capabilities to ensure technical excellence and maintain an excellent claims service.
Allianz UK Specialty (Pet)
- Allianz Specialty performed exceptionally well in 2025 growing and improving across all metrics
including delivering a 24.5% increase in operating profit and a further reduction in COR to 85.0%. - The pet market remains highly competitive although inflation has been gradually stabilising. The cost of vet treatment remains an area of interest, and we look forward to understanding the outcome of the CMA’s investigation into vet pricing practices in a few months’ time.
- These deliveries have been driven by an unceasing focus on technical excellence, the benefits of Allianz’s transformation programme and continued investment in customer service tools. Through utilising all distribution channels Specialty is positioned to continue to deliver profitable growth in 2026.
Outlook for 2026
Colm Holmes continued:
“We enter 2026 with real momentum built on disciplined underwriting, ongoing investment across the business, and the extraordinary commitment of our people. I’d like to thank them for all their continued professionalism and unwavering focus on providing the best of Allianz to our customers, brokers, and partners.
“In 2026, we will deepen our broker partnerships, sharpen our pricing and technical capabilities, and accelerate digital transformation to continue to make insurance simpler and more intuitive for our customers. But above all we remain committed to strengthening our brand, enhancing service excellence, and supporting our customers and partners in a world that continues to evolve at pace.”
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About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance.
About Allianz
The Allianz Group is one of the world’s leading insurers and asset managers with around 97 million customers* in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 764 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 2.0 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2025, over 156,000 employees achieved total business volume of 186.9 billion euros and an operating profit of 17.4 billion euros for the Group.
*Customer count reflects Allianz customers in consolidated entities that are part of the customer reporting scope only.
** As of December 31, 2025.
Mandatory corporate information: Corporate disclosures
These assessments are, as always, subject to the disclaimer provided below.
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This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.
Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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