Provision with respect to AllianzGI US Structured Alpha Funds; new share buy-back of up to EUR 1 billion

With respect to the pending court and governmental proceedings in the U.S. in relation to the Structured Alpha Funds, Allianz anticipates settlements with major investors in those Funds shortly. In anticipation thereof and in light of current discussions with U.S. governmental authorities, Allianz today decided to book a provision of 3.7 billion euros in the financial statements 2021. This provision reduced the 2021 Group net income by 2.8 billion euros.

The anticipated settlements are an important step towards a resolution of the various proceedings. Discussions with remaining plaintiffs, the U.S. Department of Justice and the U.S. Securities and Exchange Commission remain ongoing and the timing and nature of any global or coordinated resolution of these matters is not certain. Therefore, as of today, the total financial impact of the Structured Alpha matter cannot be reliably estimated and Allianz SE expects to incur additional expenses before these matters are finally resolved.

In fiscal 2021, operating profit of Allianz Group increased by 24.6 percent to 13.4 billion euros. Shareholders’ net income declined by 2.9 percent to 6.6 billion euros. The Solvency II ratio reached 209 percent. In line with the dividend policy announced on December 2, 2021 the Board of Management intends to propose a dividend in the amount of 10.80 euros per share after 9.60 euros last year.

Allianz SE has further resolved today on a new share buy-back program for 2022. The volume of such new program will amount to up to 1 billion euros. Allianz SE will cancel all repurchased shares.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.

 

We will regularly inform you about the progress of the share buy-back program on this website:

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