Allianz can promise shareholders strong growth in the years ahead. The share reacts positively.
Allianz SE, headquartered in Munich, is a listed insurance group founded in 1890 and one of the largest insurers in the world. The company operates worldwide under the name Allianz Group. Oliver Bäte has been Chairman of the Executive Board since May 2015.
As Allianz aims to achieve higher margins in its operating business and buy back shares, earnings per share are expected to grow faster than revenue, the group said in Munich on Friday. Allianz also announced further increases in dividends. The forecast sales and the expected profit growth as well as the increase in dividends are in line with analysts’ expectations.
Sales are expected to increase to more than 160 billion euros by 2024. That would be an increase of three to four percent annually. In the current year, the Group expects revenues of between 140 and 145 billion euros. As a result, sales increased by an average of around three percent between 2018 and 2021 and significantly more than in previous years. Earnings per share are expected to increase by between five and seven percent per year to around 25 euros in 2024 – about the same as last time, at least if the economic consequences of the Corona pandemic are excluded.
Operating profit is expected to increase by an average of four percent in the coming years to more than 14.5 billion euros in 2024. The operating result in the property and casualty insurance business – the Group’s most important profit earner – is expected to climb by an average of six percent to 6.6 billion euros. In life and health insurance, operating profit is expected to increase by an average of three percent to 5.3 billion euros. And a higher operating profit is also expected in asset management – by an average of five percent to 3.7 billion euros.
On Friday, the share gained 0.55 percent and was quoted at 198.38 euros.
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