Allianz withdraws 2020 profit target

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On the basis of the preliminary results for the first quarter 2020 Allianz Group expects an operating profit for Q1 of 2.3 billion euros (Q1 2019: 3.0 billion) and a shareholder's net income for Q1 of 1.4 billion euros (Q1 2019: 2.0 billion).

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 (Alternative Performance Measures (APM)) can be found on the website of Allianz SE

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 774 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

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Holger Klotz
Allianz SE
Daniela Markovic
Allianz SE
Aurika von Nauman
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
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