IR releases

Allianz achieves 2.6 billion euros operating profit in 2Q 2020

• 2Q 2020 operating profit of 2.6 billion euros
• 2Q 2020 net income attributable to shareholders down 28.6 percent to 1.5 billion euros
• 6M 2020 total revenues stable at 73.5 billion; in 2Q 2020 total revenues decreased by 6.8 percent to 30.9 billion euros
• 6M 2020 operating profit of 4.9 billion euros
• 6M 2020 net income attributable to shareholders decreased 28.8 percent to 2.9 billion euros
• Good Solvency II capitalization ratio of 187 percent

Current bond information

No offer – This announcement and the information it contains are not being issued and may not be distributed in the United States of America. This announcement does not constitute an offer of securities for sale in the United States of America or to, or for the account or benefit of, any U.S. person or in any other jurisdiction. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States of America or any other jurisdiction absent registration or an applicable exemption from registration.

Allianz reports 2.3 billion euros operating profit in 1Q 2020

• Internal revenue growth of 3.7 percent in 1Q 2020
• 1Q 2020 operating profit of 2.3 billion euros
• 1Q 2020 net income attributable to shareholders down 28.9 percent to 1.4 billion euros
• Solvency II capitalization ratio of 190 percent
• 2020 operating profit outlook 12 billion euros, plus or minus 500 million euros, has been withdrawn due to COVID-19 uncertainties

Allianz withdraws profit target

On the basis of the preliminary results for the first quarter 2020 Allianz Group expects an operating profit for 1Q of 2.3 billion euros (1Q 2019: 3.0 billion euros) and a shareholder’s net income for 1Q of 1.4 billion euros (1Q 2019: 2.0 billion euros).

Allianz and BBVA to form long-term bancassurance joint venture in Spain

• Allianz to create bancassurance joint venture with Banco Bilbao Vizcaya Argentaria (BBVA) in Spain and to acquire 50 percent plus 1 share
• Allianz and BBVA to combine know-how in underwriting, data and business analytics to digitally embed insurance into banking customer journeys and build together a new and innovative bancassurance platform
• Long-term exclusive distribution agreement with BBVA in Spain for property-casualty insurance products
• Partnership between BBVA and Allianz brings together two strong and innovative global leaders with common strategic priorities
• Transaction is subject to customary regulatory approvals

Virtual Annual General Meeting with date and dividend proposal unchanged

The convocation of the physical Annual General Meeting from March 19, 2020 has been cancelled by publication in the Federal Gazette (Bundesanzeiger) on April 6, 2020. The convocation of a virtual Annual General Meeting will be announced in the Federal Gazette on April 14 at the latest.

Information on Annual General Meeting on May 6, 2020

Convocation of the Annual General Meeting according to schedule

Allianz reports 11.9 billion euros operating profit in 2019 – the fifth consecutive increase

• Internal revenue growth of 5.9 percent in 2019
• 2019 operating profit of 11.9 billion euros in the upper half of the 2019 target range
• 2019 net income attributable to shareholders up 6.1 percent to 7.9 billion euros; basic earnings per share (EPS) increase 8.4 percent to a record 18.90 euros; very strong return on equity (RoE) of 13.6 percent
• Solvency II capitalization ratio of 212 percent at end-2019, an increase of 10 percentage points compared to the end of the third quarter 2019
• Board of Management proposes a dividend of 9.60 euros per share, up 6.7 percent and the seventh increase in a row
• New share buy-back program of up to 1.5 billion euros announced
• 4Q 2019 internal revenue growth of 5.5 percent, 4Q 2019 operating profit stable at 2.8 billion euros; 4Q 2019 net income attributable to shareholders up 9.5 percent to 1.9 billion euros
• 2020 operating profit target of 12.0 billion euros up 4.3 percent compared to previous target, plus or minus 500 million euros – barring unforeseen events, crises or natural catastrophes
• Allianz on track to deliver its Renewal Agenda 2.0 targets

Change to the Allianz SE Board of Management

Change to the Allianz SE Board of Management: Klaus-Peter Röhler succeeds Axel Theis