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Allianz Research

Powering ahead:
Global Wealth Report 2025

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All chapters

Executive summary

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Financial assets: powering ahead

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Liabilities: No recovery

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Real estate: Bottoming out

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Distribution: No progress

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Appendices

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Our team

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Major insolvencies: Close to 150 large companies went bust in Q2 2020

Our latest reporting of insolvencies of large companies - those with over EUR50mn of turnover - points to a surge in major insolvencies in Q2 2020 after a soft start of the year. Retail, services and energy were the most impacted sectors,  but automotive also stood out with a noticeable increase. What does this mean for companies? As the Covid-19 pandemic creates an insolvency time bomb, we expect a stronger risk of domino effects, notably on fragile providers along supply chains.

 

Covid-19 to increase firms’ liquidity needs to a record USD8tn as payment delays and inventories surge

Covid-19 entails longer payment delays and rising inventories among large corporates. Global firms’ liquidity needs, as measured by Working Capital Requirements (WCR) will increase by +5 days to 74 days in 2020 or USD8tn (+USD140bn). These liquidity needs are unfortunately not on the radar of policymakers, yet represent the equivalent of close to 10% of the global money supply. As a result, suppliers will continue to play the invisible bank to their clients, use more short-term credit lines from banks and look for additional funds from shareholders.


Bruised but not beaten, Europe’s textile industry is a perfect candidate for a greener and digital recovery

A Faustian bargain to limit short-term economic pain: Since the onset of Covid-19, policymakers have taken swift and unprecedented action.

608 releases in total