Allianz Turns To Profit In Q4; Propose Higher Dividend - Quick Facts

(RTTNews) - Allianz SE (ALIZY), a German financial services provider, reported that its fourth quarter net income attributable to shareholders was 2.0 billion euros compared to a loss of 0.3 billion euros in the prior period.

Operating profit for the fourth quarter climbed 12.7 percent year-over-year to 4.0 billion euros, driven by strong performance in the Life/Health business segment.

But total revenues for the fourth quarter were 36.7 billion euros, down 4.5 percent from the prior year. Statutory premiums declined in the Life/Health business segment, mainly due to softer single-premium sales in Germany and unit-linked products in Italy.

The company said its board will propose a dividend of 11.40 euros per share for 2022, an increase of 5.6 percent from 2021.

The company said it looks forward with confidence to a strong 2023 and targets a full-year operating profit of 14.2 billion euros, plus or minus 1 billion euros.

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