Allianz announced that it will undertake a forecast of 1.9 billion euros in the first quarter, following the further arrangements it made in relation to Structured Alpha funds in the USA.
The forecast will affect the group’s quarterly net profit by $ 1.6 billion after taxes, resulting in a net profit of 600 million euros in the quarter by the end of March, the German insurance company said.
The German company had previously forecast € 3.7 billion in its 201 capital accounts at Allianz Global Investors, which suffered $ 1 billion in losses amid a market turmoil at the start of the pandemic.
The company stressed that the Solvency II solvency ratio at the end of the first quarter stood at 199% and the dividend policy remains unchanged.
The share is up 2.5%.
Source: Capital
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