Allianz Says Pretax Provisions Led to 4Q Loss
18 February 2022 - 6:59AM
Dow Jones News
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)
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