Allianz reduced net profit by 2.9% in 2021

Germany’s major insurer, Allianz, ended 2021 with a net profit of 6.61 billion euros. In twelve months, its capacity fell by 2.9%. At the same time, an increase of 5.7% was shown by annual revenue, amounting to 148.5 billion euros. According to the trimestrial report, in October-December last year, the company recorded a net loss of 292 million euros against a profit of 1.817 billion euros in the equal term of the previous year. At the similar period, operating profit of 3.51 billion euros increased by 18% compared to the fourth quarter a year before. Earnings excluding non-recurring items jumped 38.2%. Quarterly revenue amounted to 38.4 billion euros, for the year it increased by 7.9%. In property and casualty insurance, operating profit was recorded at the level of 1.551 billion euros, which is 76.1% higher than the same indicator of the previous year. This figure in the field of life insurance and health insurance in the amount of 1.264 billion euros fell by 11.6% in the quarter. The capitalization of Allianz is 92.01 billion euros. Since the beginning of 2022, it has grown by 5.8%.

Source: xCritical.com