ALLIANZ SE
In the fourth quarter of 2020, operating revenues grew by 3.4 percent to 2.1 billion euros, as a result of higher
AuM-driven revenues. Given this increase in operating revenues and the fact that operating expenses decreased, the
cost-income ratio went down to 58.7 (62.7) percent. Operating profit rose by 14.2 percent to 857 (750) million euros.
Adjusted for foreign currency translation effects, operating profit increased by 20.7 percent. Third-party assets under
management increased by 42 billion euros compared to the end of the third quarter of 2020: positive market effects of
61.6 billion euros and third-party net inflows of 27.7 billion euros were partly offset by negative effects from
foreign currency translation of 47.7 billion euros.
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^[1] Excluding the application of transitional measures for technical provisions.
^[2] Including the application of transitional measures for technical provisions, the Solvency II capitalization ratio
amounted to 240 percent at the end of 2020 (224 percent at the end of the third quarter of 2020).
^[3] PVNBP is shown after non-controlling interests, unless otherwise stated.
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Allianz Group - preliminary key figures 4th quarter and fiscal year 2020
4Q 2020 4Q 2019 Delta 12M 2020 12M 2019 Delta
Total revenues EUR bn 35.6 35.5 0.3% 140.5 142.4 -1.3%
- Property-Casualty^1 EUR bn 12.7 13.1 -2.8% 59.4 59.2 0.4%
- Life/Health EUR bn 20.9 20.5 2.0% 74.0 76.4 -3.1%
- Asset Management EUR bn 2.1 2.0 3.4% 7.3 7.2 2.6%
- Corporate and Other EUR bn 0.1 0.0 48.3% 0.2 0.2 2.5%
- Consolidation EUR bn -0.2 -0.2 13.6% -0.6 -0.6 -3.7%
Operating profit / loss EUR mn 2,975 2,751 8.2% 10,751 11,855 -9.3%
- Property-Casualty EUR mn 881 861 2.4% 4,371 5,045 -13.4%
- Life/Health EUR mn 1,429 1,298 10.1% 4,359 4,708 -7.4%
- Asset Management EUR mn 857 750 14.2% 2,853 2,704 5.5%
- Corporate and Other EUR mn -197 -158 24.8% -831 -602 38.1%
- Consolidation EUR mn 4 0 n.m. -1 0 n.m.
Net income EUR mn 1,901 1,954 -2.7% 7,133 8,302 -14.1%
- attributable to non-controlling interests EUR mn 84 96 -12.4% 326 387 -15.8%
- attributable to shareholders EUR mn 1,817 1,858 -2.2% 6,807 7,914 -14.0%
Basic earnings per share EUR 4.41 4.46 -1.1% 16.48 18.90 -12.8%
Diluted earnings per share EUR 4.39 4.44 -1.2% 16.32 18.83 -13.4%
Dividend per share EUR - - - 9.60 9.60 0.0%
Additional KPIs
- Group Return on equity^3, 4 % - - - 11.4% 13.6% -2.2% -p
- Property-Casualty Combined ratio % 97.4% 99.6% -2.2% -p 96.3% 95.5% 0.8% -p
- Life/Health New business margin % 2.7% 2.9% -0.1% -p 2.8% 3.2% -0.4% -p
- Life/Health Value of new business EUR mn 521 519 0.4% 1,743 2,167 -19.6%
- Asset Management Cost-income ratio % 58.7% 62.7% -3.9% -p 61.2% 62.3% -1.1% -p
12/31/2020 12/31/2019
Shareholders' equity^4 EUR bn 80.8 74.0 9.2%
Solvency II capitalization ratio^5 % 207% 212% -5% -p
Third-party assets under management EUR bn 1,712 1,686 1.5%
Please note: The figures are presented in millions of Euros, unless otherwise stated. Due to rounding,
numbers presented may not add up precisely to the totals provided and percentages may not precisely
reflect the absolute figures.
^1 Total revenues comprise gross premiums written and fee and commission income.
^2 Proposal.
^3 Represents the ratio of net income attributable to shareholders to the average shareholders' equity at
the beginning of the period and at the end of the period. The net income attributable to shareholders is
adjusted for net financial charges related to undated subordinated bonds classified as shareholders'
equity. From the average shareholders' equity undated subordinated bonds classified as shareholders'
equity and unrealized gains/losses on bonds net of shadow accounting are excluded.
^4 Excluding non-controlling interests.
^5 Risk capital figures are group diversified at 99.5% confidence level. Including the application of
transitional measures for technical provisions, the Solvency II capitalization ratio is 240% as of
December 31, 2020. These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
No duty to update The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
Other The figures regarding the net assets, financial position and results of operations have been prepared in conformity with International Financial Reporting Standards. Information is based on preliminary figures. Final results for fiscal year 2020 will be released on March 5, 2021 (publication of the Annual Report).
This is a translation of the German Quarterly and Full Year Earnings Release of the Allianz Group. In case of any divergences, the German original is binding.
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2021-02-19 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: Allianz SE
Königinstr. 28
80802 München
Germany
Phone: +49 (0)89 38 00 - 7555
E-mail: investor.relations@allianz.com
Internet: www.allianz.com
ISIN: DE0008404005
WKN: 840400
Indices: DAX-30, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart;
Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1169540
End of News DGAP News Service
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(END) Dow Jones Newswires
February 19, 2021 01:01 ET (06:01 GMT)
