The German group can increase its operating profit.
(Photo: dpa)
Munich Germany’s largest insurance group, Allianz, once again generated record results last year, exceeding analysts’ expectations. Allianz increased its operating profit by almost six percent to 14.2 billion euros, as the insurer announced on Friday in Munich.
The value is at the upper end of the range set by management. At the same time, it exceeded the average analyst estimate by around half a billion euros.
At the end of the year, Allianz made a spurt, especially in the life and health insurance business. At 6.7 (6.6) billion euros, net profit was only slightly above the previous year’s level, after the insurer still had to bear special charges from the scandal surrounding “Structured Alpha” hedge funds in the USA.
The dividend is expected to increase to EUR 11.40 (2021: 10.80) per share. For the current year, the insurer has made an operating profit between 13.2 and 15.2 billion euros.