Allianz reports 2.3 billion euros operating profit in 1Q 2020

The COVID-19 induced turmoil in the financial markets and a slowing economy have clearly aggravated busi-ness conditions for the financial services industry. However, Allianz with its well-diversified business portfolio and a robust balance sheet is well prepared to manage the Corona crisis and has achieved good results in the first quarter of 2020.

Allianz withdraws profit target for 2020

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 and Banco Bilbao Vizcaya Argentaria have signed an agreement to create a bancassurance joint venture in Spain including a long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in Spain.

Allianz strengthens its Alternatives capabilities

Allianz announced its intention to combine the strengths of PIMCO, one of the world’s premier fixed income investment managers, and Allianz Real Estate, the captive real estate specialist with more than 70 billion euros of assets under management.

Allianz to invest in ControlExpert

Allianz X, the digital investment unit of Allianz Group, in cooperation with Allianz Germany, has entered into binding agreements with General Atlantic and other shareholders of ControlExpert for a majority investment in the company. The transaction is subject to the approval of the relevant antitrust authorities.

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

Allianz Group achieved outstanding results in revenues, operating profit and net income in 2019 despite a further decline in interest rates. Internal revenue growth, which adjusts for currency and consolidation effects, amounted to 5.9 percent, driven by all business segments.

Allianz SE resolves on new share buy-back program with a volume of up to 1.5 billion euros

Allianz SE has resolved on a new share buy-back program. The volume of such new program will amount to up to 1.5 billion euros. The program shall start in March 2020 and be finalized by December 31, 2020 at latest. Allianz SE will cancel all repurchased shares

Allianz enters JV agreement with AEON Financial Service

Allianz SE has entered into an agreement to form a life insurance joint venture (JV) with AEON Financial Service (AFS) to develop and market life insurance solutions for local customers in Japan.

Allianz completes purchase of LV GIG and General Insurance division of Legal & General

Allianz Holdings plc has completed the planned acquisition of the remaining 51 percent of the LV General Insurance Group (LV GIG) from Liverpool Victoria Friendly Society (LVFS). The total consideration by Allianz for 100 percent of LV GIG will be up to 1.078 billion pounds.