Allianz insurance company reported higher annual profits

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Allianz closed last year with a higher profit than a year earlier. The German insurer sold more insurance policies and benefited from higher margins on investments at its life and health insurance division. In addition, the total assets that Allianz invests for other parties increased, resulting in higher fees.

Turnover for 2019 rose by 7.6 percent on an annual basis to EUR 142.2 billion. Allianz then posted a net profit of 7.9 billion euros, more than 6 percent more than in the previous year.

Allianz lets its shareholders share in the profit. The insurance giant announced a new share buyback program of 1.5 billion euros. The group also raised the dividend.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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