By Elena Vardon

Allianz is scheduled to report results for the fourth quarter of 2024 on Friday. Here is what you need to know:

NET PROFIT FORECAST: Europe's largest insurer is expected to report net profit attributable to shareholders of 2.32 billion euros ($2.44 billion) for the three months ended Dec. 31, according to a company-compiled consensus of up to 11 analysts' estimates. This compares with a net profit of 2.15 billion euros in the same period of 2023.

OPERATING PROFIT FORECAST: Consensus estimates that the German company will post 3.975 billion euros in group operating profit for the quarter, an increase on the previous year's 3.765 billion euros. Investors will watch whether Allianz met its operating profit guidance for the year, which it raised to the upper half of its target range of 13.8 billion to 15.8 billion euros at its third-quarter results.

Allianz shares last traded at 326 euros and are up 10% since the start of the year, against a 8.7% gain in the Stoxx Europe 600 Insurance index in the same period.

WHAT TO WATCH:

--The Munich-based group's exposure to natural catastrophes will be in focus, particularly Hurricane Milton and floods across Europe. Morgan Stanley analysts expect the exposure to remain within the quarterly budget. The market will also look out for comments on any impact from the wildfires that struck southern California in January.

--Allianz is expected to report a combined ratio--a key profitability metric--at its property-casualty segment of 93.5% compared with 94.9% a year prior. Allianz is set to benefit from improvements in Spain and Latin America--which make up 8% of this unit's revenue--based on readacross from Spanish peer Mapfre, Berenberg analyst Michael Huttner said.

--At its life and health unit, Allianz's new business margin is seen 5.9%, flat compared with a year prior.

--Analysts expect net flows at its asset-management segment--which houses Pimco and Allianz Global Investors--of 24 billion euros. This would take its third-party assets under management to 1.880 trillion euros at the end of the period. "We believe that Pimco's Q4 2024 performance and performance fees were relatively strong," Berenberg said, adding that fees for the business along with AGI are mainly earned in this three-month period.

--The group is set to outline its guidance for 2025. Morgan Stanley expects it to be in line with current market views and potentially underwhelm, depending on how management frames the outlook.

--Allianz is forecast to declare a dividend of 15.20 euros a share, according to the consensus, up from 13.80 euros a year prior.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

February 26, 2025 03:00 ET (08:00 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.