Allianz SE books provision in Q1 2022 for Structured Alpha

Downloads

Related information

Pursuant to its active efforts to compensate investors in the Structured Alpha Funds of Allianz Global Investors U.S. Allianz has achieved additional settlements. In light thereof and progressing discussions with governmental authorities in the U.S., Allianz SE has decided today to book an additional provision of EUR 1.9 billion in Q1 2022 before tax. Allianz SE believes that this provision booked is a fair estimate of its remaining financial exposure in relation to compensation payments to investors and to payments under any resolution of the governmental proceedings. 

Allianz SE is seeking a timely resolution to the governmental proceedings in ongoing discussions with the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Allianz SE will inform about a resolution and its consequences for Allianz Global Investors beyond the aforementioned payment obligations once an agreement with the authorities has been reached. 

The provision will negatively impact the Q1 Group net income by EUR 1.6 billion after tax, resulting in a net income attributable to shareholders of EUR 0.6 billion. Group operating profit in the first Quarter 2022 amounts to EUR 3.2 billion, while the Solvency II capitalization ratio stands at 199%. Net income attributable to shareholders will be adjusted for the Structured Alpha provision for the calculation of the dividend payout. Allianz SE policy to offer a dividend per share which is the higher of a 50% payout ratio or a 5% increase from the preceding year’s dividend remains unchanged.

Explanations of the alternative financial ratios used (Alternative Performance Measures (APM)) can be found on the website of Allianz SE (available at dummy Alternative Performance Measures (allianz.com)).

The Allianz Group is one of the world's leading insurers and asset managers with 126 million* private 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 716 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance  industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

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

*Including non-consolidated entities with Allianz customers.
** As of June 30, 2022

Press contacts

Holger Klotz
Allianz SE
Lauren Day
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

Further information

Allianz achieves 3.5 billion euros operating profit in 2Q

With the publication of its second quarter and half-year 2022 financial results today, Allianz Group confirmed its full-year outlook.

AllianzGI and Voya Financial announce plans to enter long-term strategic partnership

Allianz Global Investors (“AllianzGI”) announced today that it had entered into a memorandum of understanding (“MOU”) with Voya Financial relating to a strategic partnership whereby AllianzGI would transfer selected investment teams and assets comprising most of its US business (“AGI US”) to Voya Investment Management (“Voya IM”) in return for an up to 24% equity stake in the enlarged asset manager.

Allianz SE announces resolution of U.S. governmental investigations concerning Structured Alpha with a guilty plea by AGI U.S. Allianz SE also announces signing of a MoU for a new long-term partnership

Allianz SE announces that its indirect subsidiary Allianz Global Investors U.S. LLC (“AGI U.S.”) today has entered into settlements with the U.S. Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) in connection with the Structured Alpha matter.