FAQ - frequently asked questions

Understandably, we are currently receiving many questions from shareholders about whether the Annual General Meeting and thus the dividend payment can take place on schedule. We have therefore put together the answers to the most frequent questions for you.

On March 28, 2020, the law to smoothen the impact of the COVID-19 pandemic in civil, insolvency, and criminal law has come into force. Part of this legislative package is aimed at allowing for an AGM without physical presence of shareholders or representatives to avoid gatherings of people provided that certain requirements are met. The following answers are subject to the provisions that the Management Board and the Supervisory Board decide to make use of the possibilities offered by the new law. We assume that this will be done by April 5, 2020.


1. Will the Annual General Meeting of Allianz SE take place as scheduled?

Yes. The Annual General Meeting will take place in Munich on May 6, 2020.

2. How can shareholders follow the AGM?

Shareholders of Allianz SE can follow the entire Annual General Meeting live via the Online Service. We have already been offering our shareholders this option since 2002. If you have not already registered for the AGM invitation by e-mail delivery, you will find the access data for the Online Service in the invitation, which we are planning to send out in the second half of April. The opening of the Annual General Meeting by the Chairman of the Annual General Meeting as well as the speech of the Chairman of the Management Board will be publicly broadcast on www.allianz.com/agm without requiring access data.

3. How can shareholders exercise their voting right?

Shareholders may exercise their voting right as usual by absentee vote or by granting authorization and instructions to persons appointed by Allianz SE, in both paper and electronical form. If you exercise your voting rights by absentee vote or by granting authorization and instructions to persons appointed by Allianz SE, you can change your instructions via the Online Service until the end of the general debate. 

4. When will the invitations be sent out?

We have canceled the mailing of the invitations, which was planned for the beginning of April. The new requirements imposed on us by the law to smoothen the impact of the COVID-19 pandemic make it necessary to convene again and print supplementary documents. The invitations will be sent out following the re-convening by mail and e-mail. Due to the high print run – per March 27, 2020, Allianz has approx. 633,000 shareholders – reprinting and enveloping of the documents is a time consuming process. Against this background, the legislator has shortened the deadlines compared to the regular deadlines under stock corporation law. 

5. Is the execution of an Annual General Meeting in the form of a physical meeting mandatory in Germany?

In principle yes. However, the law to smoothen the impact of the COVID-19 pandemic, which was passed on March 27, 2020, allows an AGM to be held in 2020 without physical presence of shareholders or their representatives. 

6. How many persons usually attend the Annual General Meeting in person?

In 2019, the AGM was attended by 3,900 shareholders and shareholder representatives, with an average number of attendees for the last three years of just under 3,600. On average, the number of shareholders present at the time of the passing of the resolutions, was approximately 175 for the last 3 years. Due to its longer duration, this number was just slightly above 100 at the Annual General Meeting 2019. In comparison to the total number of shareholders: the number amounted to approximately 633,000 on March 27, 2020.

7. By when does the Annual General Meeting need to take place?

The AGM of Allianz SE as a Societas Europaea (SE) needs to take place within the first 6 months following the end of the business year it is related to, i.e. by June 30. This is a special rule for companies in the legal form of an SE deviating from the general rule which requires the AGM to be held within the first 8 months. The extension of the deadline until December 31, 2020, which the law to smoothen the impact of the COVID-19 pandemic allows public limited companies, does not apply to companies that have the legal form of an SE.

8. How long in advance does the AGM need to be convoked?

In principle, Allianz SE has a notice period of 37 calendar days, not counting the day of the AGM. The law to mitigate the consequences of the COVID-19 pandemic provides for a shortened period of 21 calendar days before the day of the Annual General Meeting for 2020. The changed participation modalities granted by the special law require a new convocation.

9.  Is an Annual General Meeting required for the pay-out of the dividend?

Yes. According to the German Stock Corporation Act (Aktiengesetz), the Annual General Meeting has to approve the proposed appropriation of net earnings in order to authorize the company to pay out the dividends. Without this resolution dividend payments by Allianz SE cannot occur. 

10. Do Allianz’s statutes allow for an advance payment of retained earnings?

No. Allianz's statutes do not provide for the possibility of an advance payment of retained earnings. However, the law to smoothen the impact of the COVID-19 pandemic, which was passed on March 27, 2020, provides for this option in 2020 even without amending the statutes. 

11. Is there any risk that the dividend will be cut?

No. As announced in the convocation of March 19, 2020, a dividend of EUR 9.60 per share will be proposed to shareholders under agenda item 2.

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