Allianz to axe up to 1,800 jobs in travel insurance segment

Core Insights - Allianz is planning to reduce its workforce in the travel insurance segment by 1,500 to 1,800 employees over the next 12 to 18 months, primarily affecting call center positions as the company integrates AI into its processes [1][2] - The company has a total workforce of 22,600 employees, with approximately 14,000 involved in handling customer queries and claims by phone [1] - Allianz anticipates that these changes will create opportunities for learning and new roles, although they may impact positions reliant on manual processes [2] Financial Performance - Allianz's net income attributable to shareholders for Q3 2025 increased by 15.2% to €2.8 billion ($3.24 billion) compared to €2.4 billion in the same period last year [3] - Operating profit for the same period rose by 12.6% to €4.4 billion from €3.9 billion a year earlier [3] - For the first nine months of 2025, net income attributable to shareholders was €8.11 billion, an increase of 8.7% from €7.4 billion in the same period a year earlier [4]