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Share Name Share Symbol Market Type
Allianz AG XE:ALV XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.30 -1.27% 178.78 178.78 178.50 181.92 177.58 181.46 838,328 16:45:00

Allianz Says Pretax Provisions Led to 4Q Loss

17/02/2022 7:59pm

Dow Jones News


Allianz (XE:ALV)
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By Stephen Nakrosis

 

Financial services company Allianz SE on Thursday reported fourth-quarter revenue of EUR38.4 billion ($43.6 billion) and a loss per share of EUR0.74.

Loss attributable to shareholders was EUR292 million euros. Allianz said the loss was "due to a pre-tax provision of EUR3.7 billion in anticipation of settlements with major investors in the AllianzGI U.S. Structured Alpha funds and in light of current discussions with U.S. governmental authorities." Excluding the one-time pretax provision, net income rose 38.2% to EUR2.5 billion, Allianz said.

In the prior-year fourth quarter, Allianz reported earnings per share of EUR4.39 on revenue of EUR35.6 billion.

For full year 2021, the company reported net income attributable to shareholders of EUR6.6 billion on revenue of EUR148.5 billion. In 2020, Allianz had net income attributable to shareholders of EUR6.8 billion on revenue of EUR140 billion.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

February 17, 2022 14:44 ET (19:44 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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