In light of the uncertainties for the macroeconomic development caused by the current pandemic and the now available updated financial plans of the operating entities of the Group, from today’s perspective the Board of Management does not assume that Allianz Group can achieve the target range for the operating profit for 2020 in the amount of 12 billion euros +/- 500 million euros. A new profit target for 2020 will be announced by the Board of Management upon completion of the revised planning.
Explanations of the alternative financial ratios used can be found here: