Allianz
Sphere eu
Pocket
Insurance
Solvency-II-constrained capital pool; owns PIMCO for bond-market reach.
The metrics
- Posture high
- consolidating 1 src →
- Capital · available low
- Own general-account investments ~EUR 810B (~$890B) — but solvency-constrained, NOT free dry powder; deployable headroom is the Solvency-II surplus, not the whole pile. FX: reported in EUR … 1 src →
- Capital · operating high
- ~EUR 186.94B/yr total revenue/business volume (2025); operating profit ~EUR 17.37B; net income ~EUR 11.43B. FX flag: EUR. 1 src →
- Capital · deployed high
- ~EUR 2.512T (~$2.76T) total AUM (2025) — but ~EUR 1.8T of that is THIRD-PARTY fiduciary money (PIMCO + Allianz Global Investors), not Allianz's own balance sheet. Total assets ~EUR 1.024T … 3 src →
- Capital · in high
- Premium inflows across P&C, life/health, plus asset-management fee inflows on the EUR 1.8T third-party book; ~EUR 187B/yr business volume. 1 src →
- Capital · out high
- Claims/benefits; acquisitions (HSBC Life SG $2.09B; Viridium consortium buy EUR 3.5B with BlackRock/T&D, Mar 2025); disposals return capital (Bajaj JV EUR 2.6B); Allianz runs recurring … 1 src →
- Optionality med
- constrained — Solvency II caps deployable capital to the surplus; ~EUR 1.8T of managed money is third-party fiduciary (cannot be redeployed). Own general account is liability-matched. 1 src →
- Gravity high
- ~EUR 187B/yr GROSS business volume routed + PIMCO bond-market reach (a top-tier global fixed-income voice) — gravity is thin vs the ~EUR 2.5T commanded pile, but PIMCO adds real … 1 src →
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Vocabulary