Allianz Ireland plans to pay an €81 million dividend to its immediate parent within the wider German group after its insurance underwriting result rose against the wider Irish market trend.
The so-called foreseeable dividend was disclosed in the company’s latest solvency and financial condition report (SFCR), published on its website, which also confirmed that a €53 million payment was made during 2025.
The planned dividend will bring the total such distributions by the company since the Covid-19 pandemic, when insurers were asked by regulators to hold off on dividends and buy-backs to protect their capital positions, to €434 million. It equates to a payout of €1.39 million a week over six years.
The latest SCFR of Allianz plc, the registered name of Allianz Ireland, shows the company’s gross written premiums rose 9.5 per cent to €876.8 million last year. Net earned premiums, including premiums ceded to another arm of Allianz under a reinsurance agreement, advanced 11.8 per cent to €378.6 million.
Some 98 per cent of the company’s premiums relate to risks located in the Republic, according to a company spokeswoman.
“The increase in premium was driven largely by retail and commercial business through a combination of rate strengthening and increase in policy volumes, while maintaining underwriting discipline,” the company said in the report.
Allianz Ireland, led by chief executive Phillip Gronemeyer, usurped Axa Ireland to become the largest insurer in the Republic in 2024, according to data from Insurance Ireland, the industry representative body. The German group has had a presence in Ireland since 1902.
The company’s profit rose almost 25 per cent to €68.6 million last year. The insurance underwriting result rose 11.7 per cent to €49.5 million, while the investment result advanced 12.5 per cent to €10.8 million.
The SCFR did not give details of other financial factors that contributed to last year’s profit figure.
The company is alone among top Irish players to report on their performance for last year to disclose an increase in its insurance underwriting result. Aviva Insurance Ireland, FBD and Intact Insurance Ireland (formerly RSA Insurance Ireland) each reported a decline in insurance underwriting profits as a result of claims stemming from Storm Éowyn in January 2025.
The so-called extratropical cyclone was the most expensive insurance event in Irish history, with industry costs exceeding €300 million.
“Allianz Ireland plans for severe weather events and operates a sophisticated reinsurance programme to limit earnings volatility. While Storm Éowyn generated our expected share of gross claims, the impact net of reinsurance was broadly in line with expectations,” the spokeswoman said.
“Differences year-on-year and versus peers can reflect both the structure of reinsurance programmes and the frequency of storm events across the year.”
The company’s shareholder funds rose to €326.2 million in December from €295.7 million a year earlier. That left the insurer with €125 million more capital than needed for its regulatory requirements, the SCFR said.
Allianz plc’s immediate parent is an Irish holding company, which typically remits any dividend income received to an overseas unit of the ultimate German parent.
