Allianz Hits Fresh Record High as RBC Lifts Target and Australian Travel Insurance Deal Clears

Allianz shares surge 1.41% to record €431.30 after RBC hikes target to €440 and Australian regulator approves nib travel insurance acquisition.

Allianz shares powered to a new all-time high on Monday, propelled by a bullish analyst revision and the green light for a A$50 million travel insurance acquisition Down Under. The stock climbed 1.41 percent to €431.30, putting it within touching distance of its record peak after closing Friday at €425.30. The advance extended the insurer's month-to-date gain to roughly six percent, while the 12-month return now stands at more than a quarter.

RBC Capital Markets provided the catalyst, hiking its price target on Allianz from €400 to €440. Analyst Ben Cohen kept his "Sector Perform" rating, however, signaling that while the property and casualty division looks set for strong results — aided by low natural catastrophe claims and positive signals from reinsurer Munich Re — the relative upside against the broader European insurance sector is now more limited. RBC also lifted its target for French rival Axa from €48 to €52, describing its valuation as undemanding.

The target upgrade comes on the heels of JPMorgan raising its own Allianz price target to €430 last Thursday, reflecting the stock's recent momentum. Yet not all analysts share the enthusiasm: one research house reaffirmed a far more cautious stance in mid-July with a €325 target, arguing that stable market expectations for European insurers are already baked into the price. The wide dispersion of analyst targets underscores just how divided opinion has become after Allianz's sustained rally.

On the corporate front, the Australian Competition and Consumer Commission approved Allianz Partners' acquisition of nib's travel insurance portfolio, which includes the TID brand, existing intermediary relationships, and a 20-year distribution agreement. The purchase price reaches A$50 million, with A$30 million payable on completion and a further A$20 million contingent on conditions. For nib, the sale marks its second exit from travel insurance this year, following the A$67.5 million disposal of the World Nomads business in February — potentially generating combined proceeds of up to A$117.5 million. The transaction is the first major insurance deal under Australia's mandatory merger control regime, which took effect at the start of the year.

Allianz's expansion strategy is underpinned by its own growth projections. The group estimates global insurance premiums rose to around €6.9 trillion in 2025, an increase of 7.1 percent year-on-year, and expects a compound annual growth rate of 5.3 percent through 2036. The health segment is forecast to lead the way at 6.7 percent annually, with Asia — particularly China and India — set to capture a growing share of the global market.

Share buybacks are also providing structural support. Between July 13 and 17, Allianz repurchased 268,007 of its own shares as part of a €2.5 billion buyback program launched in March. Media reports indicate the group is additionally investing roughly €2.0 billion in new growth initiatives to strengthen its operational base.

The stock's 14-day relative strength index now sits at 73.2, a level that technical analysts typically consider overbought in the short term. Still, the fundamental trend remains intact, and the current price of €430.50 sits just 0.39 percent below its 52-week high of €432.20 — a sign of how tightly the shares are hugging the upper end of their trading range.

All eyes now turn to August 7, when Allianz is due to publish its second-quarter and first-half interim report. The recent run-up in the share price and the flurry of analyst target upgrades suggest the market is banking on solid numbers. With a market capitalization approaching €162 billion, the Munich-based insurer remains one of the DAX's heavyweight constituents, giving its moves outsized influence on Germany's benchmark index.