Across Allianz Partners’ lines of business:

•  The Health business saw particularly strong performance driven by organic growth, the SME segment and new local insurance partnerships. 
• The strong development of the Assistance business was largely driven by the Roadside Assistance and Home & Easy Living business areas, while growth in Mobility came from existing and new clients in Europe and North America. 
• The growth in our Travel insurance business was powered by the solid performance in APAC, North America, and Europe. 

• The Health business grew substantially, up 23.4%, with revenues of 2.959 billion euros last year. The business continued its double-digit growth in revenue, driven by a combination of organic growth, a strengthened presence in the Small and Medium Enterprises (SME) segment worldwide and new partnerships with local insurers for expanded client coverage. Cross-border health insurance, services and administration have been reinforced by a significant increase in regional footprint through additional operational support centers for customers in Asia Pacific and the Middle East. Together with the roll-out of digital healthcare services through the Lumi health ecosystem that has benefited over 1 million users in 2023 alone, these changes place the business in a strong position to continue to scale-up. 
  
  

• The Travel Insurance business increased by 8.0%, with 3.297 billion euros in revenues in 2023. This significant development was driven by growth in APAC, North America, and Europe. The travel recovery in Australia and New Zealand fuelled the APAC travel growth following the end of all restrictions for incoming and outgoing travelers. The North America travel performance continued, contributing to a further increase in offline channels and B2C business. European growth was primarily driven by the financial services sector in UK, along with airlines and travel agencies in France. With the recent launch of the allyz mobile app, Allianz Partners is continuing its expansion and investment into digital customer platforms.
  
  

• The Mobility & Assistance business reported 2.902 billion euros in revenue, representing an annual increase of 11.2%. The Roadside Assistance business showed strong growth in European markets, notably in France, Spain, and Switzerland, as well as in Latin America, mainly in Brazil. The Home business performed well across Europe, mainly in Germany and Austria, in addition to achieving substantial growth in Australia. Easy Living, providing daily life services such as rehabilitation support, also grew year on year, primarily due to new clients in Eastern Europe. The Mobile Device and Digital Risk (MDDR) business remained stable overall, with significant growth in India, Spain, and France, offset by portfolio cleaning in selected markets. Mobility registered an 8% increase in revenue, driven by existing client relationships, new clients in European and Asian target markets, embedded insurance, and the growth of special covers, particularly around new and micro-mobility. The Mobility line of business also successfully entered the US market, with further opportunity for growth in 2024.