Allianz SE reports record operating profit for Q2 2026

Allianz SE reported a record operating profit for the second quarter of 2026, demonstrating the stability of its business model. While the half-year results exceeded expectations, net results were impacted by restructuring costs related to IT assets.

The company confirmed it remains on track to meet its annual targets. Financial analysts hold diverging views on the stock's valuation following these results. Berenberg issued a ‘Buy’ rating with a price target of 684 euros, citing potential growth from artificial intelligence and asset management inflows. Conversely, RBC provided a more cautious ‘Sector Perform’ rating with a target of 450 euros, while DZ Bank raised its fair value to 486 euros.