Allianz SE books provision in Q1 2022 for Structured Alpha

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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 around 125 million* private and corporate customers in nearly 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 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 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 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of March 31, 2024.

Press contacts

Holger Klotz
Allianz SE
Lauren Day
Allianz SE
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