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Allianz SE

ALV: XETR (DEU)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Allianz Is Probably the Best-Executing European Multiline Insurer

Henry Heathfield

Aug 5, 2026

Business Strategy and Outlook

Allianz is one of the best-performing multiline insurers in our European insurance coverage. The company combines a unique set of assets to generate returns that are better than most of its peers. In its property and casualty division, the company has continued to invest in technology and data to improve customer experience, as well as its policy and claims processing. By increasing the speed of its first notice of loss, the company gets ahead of inflation and can manage repairs and claims more effectively. While the division has not earned economic returns, from an underwriting perspective, it is one of the better-performing divisions.

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