IR releases

Inaugural restricted tier 1 bond offering in Europe, Asia and the United States with a dual-tranche in EUR and USD

Following the determination of the tax treatment of restricted tier 1 (RT1) instruments by the German Federal Ministry of Finance in October 2020, Allianz SE has today completed the issuance of a dual tranche RT1 bond denominated in US dollars and Euros.

Allianz achieves 2.9 billion euros operating profit in 3Q 2020

• 3Q 2020 net income attributable to shareholders up 5.9 percent to 2.1 billion euros
• 3Q 2020 total revenues decreased by 6.1 percent to 31.4 billion euros, 9M 2020 total revenues slightly down at 104.9 billion euros 
• 9M 2020 operating profit of 7.8 billion euros, rising to 9.1 billion euros excluding COVID-19 impact
• 9M 2020 net income attributable to shareholders decreased 17.6 percent to 5.0 billion euros
• Solvency II capitalization ratio of 192 percent at the end of 3Q 2020

Solvency II: Clarification on taxation enhances capitalization and funding options

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.

Changes to the Allianz SE Board of Management

• Barbara Karuth-Zelle to succeed Christof Mascher
• Christopher Townsend to succeed Niran Peiris
• Board mandates of Sergio Balbinot, Giulio Terzariol and Ivan de la Sota extended

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