Allianz Charts 2027 Growth Path as Berenberg Backs 684-Euro Target and Boardroom Reshuffle Takes Shape

Berenberg reiterates buy on Allianz with a 684 euro target, as the insurer reshuffles unit leadership and preps Q3 results for 12 November.

Berenberg has thrown its weight behind Allianz, with analyst Michael Huttner reaffirming a buy rating on the Munich insurance giant on 29 September and setting a price target of 684 euros. The call rests on the revenue and operating profit growth Huttner expects the group to deliver through to the end of its current strategic plan in 2027.

The stock finished Friday's session at 417.60 euros, a gain of 1.4 percent on the day. That leaves the shares up 6.6 percent since the start of the year, and trading 5.2 percent above their 200-day moving average of 397.06 euros. The price is nonetheless 8.1 percent short of its 52-week high.

Berenberg's optimism leans on the operational steadiness of the DAX-listed group. Management is targeting dependable expansion across its core divisions, with Allianz drawing on a broad footprint that spans property and casualty insurance as well as life and health.

Leadership Changes Across Subsidiaries and the Board

While the capital markets digest that outlook, Allianz has been busy redrawing the top of its operating units. On Thursday the group confirmed a series of appointments covering both specialised subsidiaries and its highest executive body, all of them subject to approval by the relevant regulators.

Philipp Kroetz will move from Allianz Direct to Allianz Partners on 1 November 2026 to take the helm there. Laurent Floquet will assume leadership of Allianz Direct on the same date. Further out, Tomas Kunzmann is set to join the board of Allianz SE on 1 January 2027.

In the industrial insurance arm, Allianz Commercial named Stephen Morton as Global Head of Captive Fronting and Captive Solutions on 22 September. He is due to step into the role on 1 March 2027, succeeding Brian McNamara following his retirement.

Buyback Winds Down as Wealth Report Sets a Record

Running alongside these personnel moves, Allianz's share buyback programme was considered nearly complete around two weeks ago, and the stock has since shed 3.2 percent. Within the framework of that programme, the company repurchased a further 182,616 of its own shares between 21 and 22 September.

On the research front, the group published the 17th edition of its Global Wealth Report on 29 September, a study examining the assets and liabilities of private households across almost 60 countries. The report put the rise in global financial assets for 2025 at 8.6 percent, lifting the total to a record 268.4 trillion euros. While the release was not a direct driver of the share price, it underscores the group's expertise in the worldwide wealth and retirement market.

Q3 Figures Set for 12 November

Attention now turns to the next hard numbers. Allianz SE will report results for the third quarter and the first nine months on 12 November. That release should reveal how the insurance business has performed across individual divisions, and what momentum the newly assembled teams can bring to the coming financial year — as well as the extent to which the growth assumptions underpinning the 2027 strategy are already showing up in the interim accounts.